7560 Monterey Bay Dr UNIT 2Mentor On The LakeOH44060
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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 Mentor On The Lake at 7560 Monterey Bay Dr UNIT 2, Mentor On The Lake, OH, 44060 uses $96,102 cash to close to unlock $1,584/yr annual cash flow and $132/mo monthly cash flow. Total monthly income runs $2,299/mo, and a $1,419/mo payment keeps the spread at $132/mo. Purchase price stands at $289,900, and rental yield measures 9.52% with $2,299/mo rent. Return on cash invested shows 21.56% in year one, and 5% annual appreciation builds toward $80,094 over five years. Five-year ROI reaches 113.35% and total cumulative return in cash records $108,933. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,299/mo property income covering a $1,419/mo payment rather than investor’s personal income.
Condo
Built in 1997
N/A lot
$N/A/sqft
$260 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44060, Mentor, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,459 (100%) |
| Owner Occupied HU | 22,116 (80.5%) |
| Renter Occupied HU | 4,392 (16.0%) |
| Vacant Housing Units | 951 ( 3.5%) |
| Median Home Value | $260,396 |
| Average Home Value | $289,288 |
Housing Distribution
Address Breakdown
Residential
26,825
Single Family
25,277
Multi-Family
1,548
Businesses
2,273
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Listed by: Beth M Barker • Howard Hanna
Mls Name: MLS Now
Mls ID: #5120069