723 Lakeview DrCortlandOH44410
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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 Cortland at 723 Lakeview Dr, Cortland, OH, 44410 priced at $119,900 converts $1,056/mo rent into $267/mo cash flow after a $587/mo obligation. Total monthly income equals $1,056/mo, and annual cash flow totals $3,206/yr on $39,747 invested. Return on cash invested prints 27.98% in year one, and rental yield reads 10.57% against a $119,900 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation compiles into $33,126 by year five. Five-year ROI reaches 146.73% and total cumulative return in cash sums $58,320. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,056/mo property income covering a $587/mo payment, not borrower’s personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44410, Cortland, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,604 (100%) |
| Owner Occupied HU | 5,689 (74.8%) |
| Renter Occupied HU | 1,374 (18.1%) |
| Vacant Housing Units | 541 ( 7.1%) |
| Median Home Value | $205,225 |
| Average Home Value | $216,773 |
Housing Distribution
Address Breakdown
Residential
7,744
Single Family
7,498
Multi-Family
246
Businesses
500
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