7567 Monterey Bay Dr UNIT 4Mentor 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 7567 Monterey Bay Dr UNIT 4, Mentor On The Lake, OH, 44060 offers a 7.96% rental yield on a $284,900 purchase with $1,890/mo rent. Total monthly income registers $1,890/mo, and a $1,394/mo payment leaves $16/mo available for distribution. Annual cash flow reaches $197/yr on $94,444 to close, and return on cash invested stands at 20.12% in year one. Equity gained on principal adds $1,838/yr while 5% annual appreciation supports $78,713 over five years. Portfolio math shows five-year ROI at 104.49% and total cumulative return in cash at $98,687. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,890/mo property income against a $1,394/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1997
0.29 Acres lot
$N/A/sqft
No 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: Michael Kaim • Real of Ohio
Mls Name: MLS Now
Mls ID: #5174497