611 W Gray StElmiraNY14905
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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 Elmira at 611 W Gray St, Elmira, NY, 14905 offers $2,249/mo rent that, after a $778/mo payment, leaves $1,187/mo cash flow. Total monthly income is $2,249/mo, and annual cash flow is $14,249/yr on $52,709 cash. Return on cash invested measures 46.94% in year one, and rental yield stands at 16.97% at a $159,000 entry. Equity gained on principal adds $1,026/yr while 5% annual appreciation compounds into $43,929 by year five. Five-year ROI records 248.52% and total cumulative return in cash reaches $130,992. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,249/mo property income versus a $778/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in N/A
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 14905, Elmira, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,227 (100%) |
| Owner Occupied HU | 2,550 (60.3%) |
| Renter Occupied HU | 1,261 (29.8%) |
| Vacant Housing Units | 416 ( 9.8%) |
| Median Home Value | $185,958 |
| Average Home Value | $200,465 |
Housing Distribution
Address Breakdown
Residential
4,031
Single Family
3,892
Multi-Family
139
Businesses
106
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Listed by: Michelle Simmons • Howard Hanna Corning Market St.
Mls Name: ECMLS
Mls Provider:
Mls ID: #278264
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.