501 Lake AveEriePA16511
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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 501 Lake Ave, Erie, PA, 16511 generates $1,568/mo in rent and, after a $783/mo payment, leaves $520/mo in cash flow. Total monthly income is $1,568/mo, and annual cash flow is $6,238/yr on $53,007 invested. Return on cash invested sits at 31.68% in year one, and rental yield is 11.77% on a $159,900 entry. Equity gained on principal adds $1,032/yr, while 5% annual appreciation builds toward $44,177 over five years. Five-year ROI reaches 166.43% and total cumulative return in cash sums $88,218. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,568/mo property income rather than buyer’s personal income.
Single Family
Built in 1951
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16511, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,888 (100%) |
| Owner Occupied HU | 3,105 (63.5%) |
| Renter Occupied HU | 1,440 (29.5%) |
| Vacant Housing Units | 343 ( 7.0%) |
| Median Home Value | $196,274 |
| Average Home Value | $227,448 |
Housing Distribution
Address Breakdown
Residential
4,845
Single Family
4,529
Multi-Family
316
Businesses
190
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Listed by: Donald Chandley • RE/MAX Real Estate Group East
Mls Name: GEMLS
Mls ID: #189267