4613 Andover AveLorainOH44055
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 Lorain at 4613 Andover Ave, Lorain, OH, 44055 priced at $149,900 converts $1,278/mo rent into $292/mo cash flow after a $734/mo obligation. Total monthly income equals $1,278/mo, and annual cash flow totals $3,500/yr on $49,692 invested. Return on cash invested prints 26.95% in year one, and rental yield reads 10.23% against a $149,900 entry. Equity gained on principal adds $967/yr, while 5% annual appreciation compiles into $41,415 by year five. Five-year ROI reaches 141.17% and total cumulative return in cash sums $70,151. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,278/mo property income covering a $734/mo payment, not borrower’s personal income.
Single Family
Built in 1961
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44055, Lorain, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,704 (100%) |
| Owner Occupied HU | 4,106 (47.2%) |
| Renter Occupied HU | 3,726 (42.8%) |
| Vacant Housing Units | 872 (10.0%) |
| Median Home Value | $101,932 |
| Average Home Value | $142,395 |
Housing Distribution
Address Breakdown
Residential
7,731
Single Family
7,308
Multi-Family
423
Businesses
373
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Andrea Neal • Russell Real Estate Services
Mls Name: MLS Now
Mls Provider:
Mls ID: #5093364
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