3439 Morningside WayLorainOH44053
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Lorain at 3439 Morningside Way, Lorain, OH, 44053 offers a 8.72% rental yield on a $335,000 purchase with $2,434/mo rent. Total monthly income registers $2,434/mo, and a $1,640/mo payment leaves $230/mo available for distribution. Annual cash flow reaches $2,761/yr on $111,053 to close, and return on cash invested stands at 22.4% in year one. Equity gained on principal adds $2,162/yr while 5% annual appreciation supports $92,554 over five years. Portfolio math shows five-year ROI at 116.72% and total cumulative return in cash at $129,620. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,434/mo property income against a $1,640/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2017
4,839 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44053, Lorain, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,893 (100%) |
| Owner Occupied HU | 6,090 (61.6%) |
| Renter Occupied HU | 3,174 (32.1%) |
| Vacant Housing Units | 629 ( 6.4%) |
| Median Home Value | $216,801 |
| Average Home Value | $251,076 |
Housing Distribution
Address Breakdown
Residential
9,715
Single Family
7,830
Multi-Family
1,885
Businesses
424
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