508 Colorado DrEriePA16505
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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 508 Colorado Dr, Erie, PA, 16505 priced at $224,900 converts $1,688/mo rent into $214/mo cash flow after a $1,101/mo obligation. Total monthly income equals $1,688/mo, and annual cash flow totals $2,568/yr on $74,554 invested. Return on cash invested prints 23.35% in year one, and rental yield reads 9.01% against a $224,900 entry. Equity gained on principal adds $1,451/yr, while 5% annual appreciation compiles into $62,136 by year five. Five-year ROI reaches 121.86% and total cumulative return in cash sums $90,853. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,688/mo property income covering a $1,101/mo payment, not borrower’s personal income.
Single Family
Built in 1951
6,098 sqft lot
$N/A/sqft
No HOA
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Nearby investment properties with comparable prices
Listed by: Amy Gierlak • Coldwell Banker Select - Edinboro
Mls Name: GEMLS
Mls ID: #188196