505 Cherrywood LnPainesvilleOH44077
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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 Painesville at 505 Cherrywood Ln, Painesville, OH, 44077 offers $1,979/mo rent that, after a $1,512/mo payment. Total monthly income is $1,979/mo. Return on cash invested measures 18.95% in year one, and rental yield stands at 7.69% at a $308,900 entry. Equity gained on principal adds $1,993/yr while 5% annual appreciation compounds into $85,343 by year five. Five-year ROI records 98.31% and total cumulative return in cash reaches $100,666. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,979/mo property income versus a $1,512/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2007
7,501 sqft lot
$N/A/sqft
$350 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44077, Painesville, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,374 (100%) |
| Owner Occupied HU | 17,667 (69.6%) |
| Renter Occupied HU | 6,312 (24.9%) |
| Vacant Housing Units | 1,395 ( 5.5%) |
| Median Home Value | $257,846 |
| Average Home Value | $298,922 |
Housing Distribution
Address Breakdown
Residential
24,650
Single Family
23,364
Multi-Family
1,286
Businesses
1,304
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Listed by: Judie Crockett • Howard Hanna
Mls Name: MLS Now
Mls ID: #5126208