6311 Velma AveParmaOH44129
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
Investment Highlights
Investment property for sale in Parma at 6311 Velma Ave, Parma, OH, 44129 listed at $245,000 pairs $1,483/mo rent with a $1,199/mo payment. Total monthly income runs $1,483/mo. Return on cash invested measures 18.01% in year one, and rental yield registers 7.26% at a $245,000 basis. Equity gained on principal adds $1,581/yr, and annual property appreciation at 5% supports $67,689 by year five. Five-year ROI tracks 93.2% and total cumulative return in cash totals $75,696. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,483/mo property income relative to a $1,199/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1952
5,601 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44129, Cleveland, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,757 (100%) |
| Owner Occupied HU | 8,374 (65.6%) |
| Renter Occupied HU | 3,570 (28.0%) |
| Vacant Housing Units | 813 ( 6.4%) |
| Median Home Value | $167,812 |
| Average Home Value | $206,631 |
Housing Distribution
Address Breakdown
Residential
12,631
Single Family
10,499
Multi-Family
2,132
Businesses
743
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Listed by: Andrey Godes • Keller Williams Living
Mls Name: MLS Now
Mls Provider:
Mls ID: #5135615
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