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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 1113 W 7th St, Erie, PA, 16502 earns $683/mo cash flow from $1,427/mo rent with a $489/mo payment. Total monthly income totals $1,427/mo, and annual cash flow totals $8,196/yr on $33,150 capital. ROI tracks 44.63% on current figures, and rental yield reads 17.12% at a $100,000 purchase. Equity gained on principal adds $645/yr, and 5% annual appreciation supports $27,628 over five years. Five-year ROI reaches 237.08% and total cumulative return in cash sums $78,592. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,427/mo property income instead of your personal income.
Single Family
Built in 1909
3,262 sqft lot
$N/A/sqft
No HOA
More details about the property
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
Price History
Date | Event | Price |
|---|---|---|
| 2024-10-10 | Price change | $100,000 |
| 2024-10-03 | Listed for sale | $110,000 |
| 2018-09-17 | Sold | $20,500 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-10-15 | $2559.71 | 2.14% | $68,100 | N/A |
| 2022-10-15 | $2506.01 | N/A | $68,100 | N/A |
| 2021-10-15 | $2506.01 | 95.43% | $68,100 | N/A |
Nearby investment properties with comparable rents
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Facts & Features
General Information
- Type: SingleFamily
- Year Built: 1909
- Architectural Style: Two Story
- Building Area: 1,544
- Living Area: 1,544 sqft
- Property Condition: Good Condition,Resale
Features & Amenities
- Heating: Forced Air, Gas
- Cooling: N/A
- Flooring: Carpet, Vinyl
- Interior Features: N/A
- Exterior Features: Storage
- Parking Features: N/A
Location
- City: Erie
- Subdivision: N/A
- Lot Size: 3,262 sqft
- Lot Features: Flat
- View: N/A
HOA & Fees
- HOA Fee: N/A
- Association Fee: N/A
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: N/A
- Sewer: Public Sewer
- Water Source: Public
- Road Surface Type: Paved
School Information
- Elementary School: N/A
- Middle School: N/A
- High School: N/A
Listed by: JP Hood • eXp Realty, LLC
Mls Name: GEMLS
Mls ID: #180238
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.