458 W 2nd StEriePA16507
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
Investment property for sale in Erie at 458 W 2nd St, Erie, PA, 16507 uses $36,432 cash to close to unlock $1,588/yr annual cash flow and $132/mo monthly cash flow. Total monthly income runs $874/mo, and a $538/mo payment keeps the spread at $132/mo. Purchase price stands at $109,900, and rental yield measures 9.54% with $874/mo rent. Return on cash invested shows 24.27% in year one, and 5% annual appreciation builds toward $30,363 over five years. Five-year ROI reaches 127.05% and total cumulative return in cash records $46,288. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $874/mo property income covering a $538/mo payment rather than investor’s personal income.
Single Family
Built in 1912
2,252 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: PJ Albrecht • Agresti Real Estate - Meadville
Mls Name: GEMLS
Mls ID: #185944
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.