58 Cortland StHomerNY13077
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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 Homer at 58 Cortland St, Homer, NY, 13077 priced at $187,000 converts $1,409/mo rent into $161/mo cash flow after a $915/mo obligation. Total monthly income equals $1,409/mo, and annual cash flow totals $1,926/yr on $61,991 invested. Return on cash invested prints 23.02% in year one, and rental yield reads 9.04% against a $187,000 entry. Equity gained on principal adds $1,207/yr, while 5% annual appreciation compiles into $51,665 by year five. Five-year ROI reaches 120.16% and total cumulative return in cash sums $74,490. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,409/mo property income covering a $915/mo payment, not borrower’s personal income.
Single Family
Built in 1947
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13077, Homer, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,032 (100%) |
| Owner Occupied HU | 2,050 (67.6%) |
| Renter Occupied HU | 621 (20.5%) |
| Vacant Housing Units | 361 (11.9%) |
| Median Home Value | $184,349 |
| Average Home Value | $277,991 |
Housing Distribution
Address Breakdown
Residential
2,718
Single Family
2,606
Multi-Family
112
Businesses
184
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