508 W 23rd StLorainOH44052
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 508 W 23rd St, Lorain, OH, 44052 in Lorain hard to pass up. The 12.02% gross yield on a $155,000 purchase results in $1,553/mo in rent and $533/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.23). Annual cash flow of $6,401, five-year appreciation of $42,824, and $1,428/yr in equity build-up combine for a projected total cumulative return of $93,414.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12% | 5.8% |
| Monthly Cash Flow | $533 | $420 |
City averages based on Lorain market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,553 |
| Total Monthly Debt Service | $958 |
| DSCR Ratio | 1.62x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1900
7,405 sqft lot
$N/A/sqft
No HOA
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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
Multi Family
Built in 1900
7,405 sqft lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices