5611 Independence DrLorainOH44053
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderCapital preservation and steady income define 5611 Independence Dr, Lorain, OH, 44053 in Lorain. Rental yield 7.32%. The 1.36 coverage passes Ziffy Mortgage's DSCR threshold for non-U.S. residents. Five-year appreciation of $67,661 and $2,256/yr in principal reduction project total return of $85,759.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.3% | 5.8% |
| Monthly Cash Flow | $(117) | $420 |
City averages based on Lorain market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,494 |
| Total Monthly Debt Service | $1,513 |
| DSCR Ratio | 0.99x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in 1978
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44053, Lorain, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,893 (100%) |
| Owner Occupied HU | 6,090 (61.6%) |
| Renter Occupied HU | 3,174 (32.1%) |
| Vacant Housing Units | 629 ( 6.4%) |
| Median Home Value | $216,801 |
| Average Home Value | $251,076 |
Housing Distribution
Address Breakdown
Residential
9,715
Single Family
7,830
Multi-Family
1,885
Businesses
424
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1978
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44053, Lorain, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,893 (100%) |
| Owner Occupied HU | 6,090 (61.6%) |
| Renter Occupied HU | 3,174 (32.1%) |
| Vacant Housing Units | 629 ( 6.4%) |
| Median Home Value | $216,801 |
| Average Home Value | $251,076 |
Housing Distribution
Address Breakdown
Residential
9,715
Single Family
7,830
Multi-Family
1,885
Businesses
424
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices