700-702 W Water 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
Investment property for sale in Elmira at 700-702 W Water St, Elmira, NY, 14905 uses $51,349 cash to close to unlock $7,041/yr annual cash flow and $587/mo monthly cash flow. Total monthly income runs $1,621/mo, and a $758/mo payment keeps the spread at $587/mo. Purchase price stands at $154,900, and rental yield measures 12.56% with $1,621/mo rent. Return on cash invested shows 33.62% in year one, and 5% annual appreciation builds toward $42,796 over five years. Five-year ROI reaches 177.02% and total cumulative return in cash records $90,896. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,621/mo property income covering a $758/mo payment rather than investor’s personal income.
Multi Family
Built in 1957
4,356 sqft 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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