6 W 37th StEriePA16508
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayYield and appreciation often trade off, and at 6 W 37th St, Erie, PA, 16508 in Erie the bet is firmly on appreciation. Rental yield 4.54%. The 4.54% gross yield on a $349,000 price is below income-first thresholds, but 5%/yr value growth projects $96,422 in equity by year five. Ziffy Mortgage's non-U.S. DSCR mortgage (0.84) finances the acquisition on rental income alone. A larger down payment (30–35%) reduces monthly debt service and tightens the spread. Total projected cumulative return: $70,370.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.5% | 7.8% |
| Monthly Cash Flow | $(972) | $450 |
City averages based on Erie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,320 |
| Total Monthly Debt Service | $2,153 |
| DSCR Ratio | 0.61x |
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 1955
10,084 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16508, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,921 (100%) |
| Owner Occupied HU | 4,354 (62.9%) |
| Renter Occupied HU | 1,997 (28.9%) |
| Vacant Housing Units | 570 ( 8.2%) |
| Median Home Value | $130,047 |
| Average Home Value | $187,683 |
Housing Distribution
Address Breakdown
Residential
6,931
Single Family
6,764
Multi-Family
167
Businesses
601
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 1955
10,084 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16508, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,921 (100%) |
| Owner Occupied HU | 4,354 (62.9%) |
| Renter Occupied HU | 1,997 (28.9%) |
| Vacant Housing Units | 570 ( 8.2%) |
| Median Home Value | $130,047 |
| Average Home Value | $187,683 |
Housing Distribution
Address Breakdown
Residential
6,931
Single Family
6,764
Multi-Family
167
Businesses
601
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices