6769 Melridge DrPainesvilleOH44077
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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 Painesville at 6769 Melridge Dr, Painesville, OH, 44077 generates $2,028/mo in rent and, after a $1,395/mo payment, leaves $153/mo in cash flow. Total monthly income is $2,028/mo, and annual cash flow is $1,839/yr on $94,478 invested. Return on cash invested sits at 21.86% in year one, and rental yield is 8.54% on a $285,000 entry. Equity gained on principal adds $1,839/yr, while 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 113.81% and total cumulative return in cash sums $107,526. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,028/mo property income rather than buyer’s personal income.
Single Family
Built in 1957
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44077, Painesville, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,374 (100%) |
| Owner Occupied HU | 17,667 (69.6%) |
| Renter Occupied HU | 6,312 (24.9%) |
| Vacant Housing Units | 1,395 ( 5.5%) |
| Median Home Value | $257,846 |
| Average Home Value | $298,922 |
Housing Distribution
Address Breakdown
Residential
24,650
Single Family
23,364
Multi-Family
1,286
Businesses
1,304
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Listed by: Judie Crockett • Howard Hanna
Mls Name: MLS Now
Mls ID: #5166039