424 Hess AveEriePA16507
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 424 Hess Ave, Erie, PA, 16507 offers $1,562/mo rent that, after a $529/mo payment, leaves $854/mo cash flow. Total monthly income is $1,562/mo, and annual cash flow is $10,247/yr on $35,802 cash. Return on cash invested measures 48.53% in year one, and rental yield stands at 17.36% at a $108,000 entry. Equity gained on principal adds $697/yr while 5% annual appreciation compounds into $29,838 by year five. Five-year ROI records 256.8% and total cumulative return in cash reaches $91,940. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,562/mo property income versus a $529/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
3,781 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: Tim Johns • REALTY ONE GROUP LANDMARK
Mls Name: WPMLS
Mls Provider:
Mls ID: #1705507
Disclaimer: Listing 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.