3935 Myrtle StEriePA16508
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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 3935 Myrtle St, Erie, PA, 16508 offers $2,874/mo rent that, after a $1,419/mo payment, leaves $955/mo cash flow. Total monthly income is $2,874/mo, and annual cash flow is $11,462/yr on $96,102 cash. Return on cash invested measures 31.84% in year one, and rental yield stands at 11.9% at a $289,900 entry. Equity gained on principal adds $1,871/yr while 5% annual appreciation compounds into $80,094 by year five. Five-year ROI records 167.41% and total cumulative return in cash reaches $160,881. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,874/mo property income versus a $1,419/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1930
6,899 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16508, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,921 (100%) |
| Owner Occupied HU | 4,354 (62.9%) |
| Renter Occupied HU | 1,997 (28.9%) |
| Vacant Housing Units | 570 ( 8.2%) |
| Median Home Value | $130,047 |
| Average Home Value | $187,683 |
Housing Distribution
Address Breakdown
Residential
6,931
Single Family
6,764
Multi-Family
167
Businesses
601
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Listed by: Tim Bogdanets • Howard Hanna Erie Southwest
Mls Name: GEMLS
Mls ID: #177979
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.