862 E 28th StEriePA16504
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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 862 E 28th St, Erie, PA, 16504 uses $34,443 cash to close to unlock $4,940/yr annual cash flow and $412/mo monthly cash flow. Total monthly income runs $1,093/mo, and a $509/mo payment keeps the spread at $412/mo. Purchase price stands at $103,900, and rental yield measures 12.62% with $1,093/mo rent. Return on cash invested shows 34.25% in year one, and 5% annual appreciation builds toward $28,706 over five years. Five-year ROI reaches 180.28% and total cumulative return in cash records $62,092. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,093/mo property income covering a $509/mo payment rather than investor’s personal income.
Multi Family
Built in 1926
2,191 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16504, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,866 (100%) |
| Owner Occupied HU | 4,241 (61.8%) |
| Renter Occupied HU | 2,060 (30.0%) |
| Vacant Housing Units | 565 ( 8.2%) |
| Median Home Value | $111,232 |
| Average Home Value | $181,587 |
Housing Distribution
Address Breakdown
Residential
6,589
Single Family
6,038
Multi-Family
551
Businesses
196
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Listed by: Dorotha Argaez • Keller Williams Realty
Mls Name: GEMLS
Mls ID: #187079