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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 225 W 2nd St, Erie, PA, 16507 listed at $324,900 pairs $3,553/mo rent with a $1,590/mo payment to leave $1,424/mo cash flow. Total monthly income runs $3,553/mo, and annual cash flow reaches $17,090/yr on $107,704 cash to close. Return on cash invested measures 35.78% in year one, and rental yield registers 13.12% at a $324,900 basis. Equity gained on principal adds $2,097/yr, and annual property appreciation at 5% supports $89,764 by year five. Five-year ROI tracks 188.43% and total cumulative return in cash totals $202,949. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,553/mo property income relative to a $1,590/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Multi Family
Built in 1852
5,279 sqft lot
$N/A/sqft
No HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 16507, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,038 (100%) |
| Owner Occupied HU | 1,142 (28.3%) |
| Renter Occupied HU | 2,148 (53.2%) |
| Vacant Housing Units | 748 (18.5%) |
| Median Home Value | $69,504 |
| Average Home Value | $121,219 |
Housing Distribution
Address Breakdown
Residential
3,625
Single Family
3,283
Multi-Family
342
Businesses
319
Price History
Date | Event | Price |
|---|---|---|
| 2025-02-12 | Listed for sale | $324,900 |
| 2021-04-19 | Sold | $185,000 |
| 2021-02-08 | Pending sale | $179,900 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
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: MultiFamily
- Year Built: 1852
- Architectural Style: Two Story
- Building Area: 4,656
- Living Area: 4,656 sqft
- Property Condition: Excellent,Resale
Features & Amenities
- Heating: Forced Air, Gas
- Cooling: None
- Flooring: N/A
- Interior Features: N/A
- Exterior Features: N/A
- Parking Features: N/A
Location
- City: Erie
- Subdivision: N/A
- Lot Size: 5,279 sqft
- Lot Features: Sloped
- 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: Brandon Penn • Keller Williams Realty
Mls Name: GEMLS
Mls ID: #181554
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