351 E 3rd StEriePA16507
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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
Rental property for sale in Erie at 351 E 3rd St, Erie, PA, 16507 priced at $102,900 converts $778/mo rent into $103/mo cash flow after a $504/mo obligation. Total monthly income equals $778/mo, and annual cash flow totals $1,240/yr on $34,111 invested. Return on cash invested prints 23.54% in year one, and rental yield reads 9.07% against a $102,900 entry. Equity gained on principal adds $664/yr, while 5% annual appreciation compiles into $28,429 by year five. Five-year ROI reaches 122.92% and total cumulative return in cash sums $41,930. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $778/mo property income covering a $504/mo payment, not borrower’s personal income.
Single Family
Built in 1900
5,362 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16507, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,038 (100%) |
| Owner Occupied HU | 1,142 (28.3%) |
| Renter Occupied HU | 2,148 (53.2%) |
| Vacant Housing Units | 748 (18.5%) |
| Median Home Value | $69,504 |
| Average Home Value | $121,219 |
Housing Distribution
Address Breakdown
Residential
3,625
Single Family
3,283
Multi-Family
342
Businesses
319
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Listed by: Melissa Ellis • Glowacki Management Company
Mls Name: GEMLS
Mls ID: #182121
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.