714 W 3rd StEriePA16507
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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 Erie at 714 W 3rd St, Erie, PA, 16507 offers a 14.15% rental yield on a $183,500 purchase with $2,164/mo rent. Total monthly income registers $2,164/mo, and a $898/mo payment leaves $953/mo available for distribution. Annual cash flow reaches $11,432/yr on $60,830 to close, and return on cash invested stands at 38.7% in year one. Equity gained on principal adds $1,184/yr while 5% annual appreciation supports $50,698 over five years. Portfolio math shows five-year ROI at 204.17% and total cumulative return in cash at $124,200. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,164/mo property income against a $898/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1882
6,804 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16507, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,038 (100%) |
| Owner Occupied HU | 1,142 (28.3%) |
| Renter Occupied HU | 2,148 (53.2%) |
| Vacant Housing Units | 748 (18.5%) |
| Median Home Value | $69,504 |
| Average Home Value | $121,219 |
Housing Distribution
Address Breakdown
Residential
3,625
Single Family
3,283
Multi-Family
342
Businesses
319
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Listed by: Nanci Lorei • Marsha Marsh RES Peach
Mls Name: GEMLS
Mls ID: #180418
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.