818 Washington PlEriePA16502
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Nearby investment properties with comparable prices
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 Erie at 818 Washington Pl, Erie, PA, 16502 offers $1,651/mo rent that, after a $827/mo payment, leaves $544/mo cash flow. Total monthly income is $1,651/mo, and annual cash flow is $6,525/yr on $56,024 cash. Return on cash invested measures 31.56% in year one, and rental yield stands at 11.72% at a $169,000 entry. Equity gained on principal adds $1,091/yr while 5% annual appreciation compounds into $46,692 by year five. Five-year ROI records 165.8% and total cumulative return in cash reaches $92,887. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,651/mo property income versus a $827/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
5,022 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16502, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,681 (100%) |
| Owner Occupied HU | 2,457 (32.0%) |
| Renter Occupied HU | 4,325 (56.3%) |
| Vacant Housing Units | 899 (11.7%) |
| Median Home Value | $87,569 |
| Average Home Value | $133,334 |
Housing Distribution
Address Breakdown
Residential
6,831
Single Family
6,046
Multi-Family
785
Businesses
424
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Listed by: Jennifer L. Ferrick • eXp Realty - Erie
Mls Name: GEMLS
Mls ID: #188545