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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
Rental property for sale in Erie at 1627 Myrtle St, Erie, PA, 16502 priced at $100,000 pairs $759/mo rent with $29/mo cash flow after a $489/mo payment. Total monthly income equals $759/mo, and annual cash flow comes to $349/yr on $33,150 invested. Return on cash invested is 20.96% in year one, and rental yield stands at 9.11% on a $100,000 basis. Equity gained on principal adds $645/yr, and 5% annual appreciation accumulates to $27,628 by year five. Five-year ROI measures 110.13% and total cumulative return in cash reaches $36,508. For financing, Ziffy Mortgage’s DSCR program evaluates $759/mo property income against a $489/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1887
4,356 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 |
|---|---|---|
| 2025-04-02 | Listed for sale | $100,000 |
| 2020-07-02 | Sold | $50,000 |
| 2020-06-04 | Pending sale | $55,000 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-04-03 | $2390.57 | 2.14% | $63,600 | N/A |
| 2022-04-03 | $2340.42 | N/A | $63,600 | N/A |
| 2021-04-03 | $2340.42 | 95.43% | $63,600 | N/A |
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
No similar price properties found nearby.
Facts & Features
General Information
- Type: SingleFamily
- Year Built: 1887
- Architectural Style: N/A
- Building Area: 2,323
- Living Area: 2,323 sqft
- Property Condition: Resale
Features & Amenities
- Heating: Forced Air, Gas
- Cooling: N/A
- Flooring: Carpet, Hardwood, Laminate, Wood
- Interior Features: Cable TV
- Exterior Features: Deck, Fence, Paved Driveway, Security Lighting
- Parking Features: Detached, Garage
Location
- City: Erie
- Subdivision: N/A
- Lot Size: 4,356 sqft
- Lot Features: Corner Lot
- 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: Leslie Jaglowski • RE/MAX Real Estate Group Erie
Mls Name: GEMLS
Mls ID: #182191
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.