520 E 2nd StEriePA16507
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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
Investment property for sale in Erie at 520 E 2nd St, Erie, PA, 16507 uses $46,410 cash to close to unlock $754/yr annual cash flow and $63/mo monthly cash flow. Total monthly income runs $980/mo, and a $685/mo payment keeps the spread at $63/mo. Purchase price stands at $140,000, and rental yield measures 8.4% with $980/mo rent. Return on cash invested shows 21.53% in year one, and 5% annual appreciation builds toward $38,679 over five years. Five-year ROI reaches 112.06% and total cumulative return in cash records $52,006. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $980/mo property income covering a $685/mo payment rather than investor’s personal income.
Multi Family
Built in 1917
2,700 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16507, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,038 (100%) |
| Owner Occupied HU | 1,142 (28.3%) |
| Renter Occupied HU | 2,148 (53.2%) |
| Vacant Housing Units | 748 (18.5%) |
| Median Home Value | $69,504 |
| Average Home Value | $121,219 |
Housing Distribution
Address Breakdown
Residential
3,625
Single Family
3,283
Multi-Family
342
Businesses
319
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Listed by: Dan Cruz • Agresti Real Estate
Mls Name: GEMLS
Mls ID: #184250