87 N Main StHomerNY13077
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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 Homer at 87 N Main St, Homer, NY, 13077 priced at $249,900 converts $1,697/mo rent into $28/mo cash flow after a $1,223/mo obligation. Total monthly income equals $1,697/mo, and annual cash flow totals $340/yr on $82,842 invested. Return on cash invested prints 20.32% in year one, and rental yield reads 8.15% against a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation compiles into $69,043 by year five. Five-year ROI reaches 105.7% and total cumulative return in cash sums $87,566. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,697/mo property income covering a $1,223/mo payment, not borrower’s personal income.
Single Family
Built in 1940
0.42 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13077, Homer, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,032 (100%) |
| Owner Occupied HU | 2,050 (67.6%) |
| Renter Occupied HU | 621 (20.5%) |
| Vacant Housing Units | 361 (11.9%) |
| Median Home Value | $184,349 |
| Average Home Value | $277,991 |
Housing Distribution
Address Breakdown
Residential
2,718
Single Family
2,606
Multi-Family
112
Businesses
184
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