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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 705 E 5th St, Erie, PA, 16507 earns $812/mo cash flow from $1,385/mo rent with a $428/mo payment. Total monthly income totals $1,385/mo, and annual cash flow totals $9,745/yr on $28,973 capital. ROI tracks 53.54% on current figures, and rental yield reads 19.02% at a $87,400 purchase. Equity gained on principal adds $564/yr, and 5% annual appreciation supports $24,147 over five years. Five-year ROI reaches 283.86% and total cumulative return in cash sums $82,244. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,385/mo property income instead of your personal income.
Single Family
Built in 1900
2,635 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 |
|---|---|---|
| 2024-10-02 | Listed for sale | $87,400 |
| 2010-01-26 | Sold | $6,500 |
| 2009-12-15 | Sold | $1,364 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-01-08 | $1044.93 | 2.14% | $27,800 | N/A |
| 2022-01-08 | $1023.01 | N/A | $27,800 | N/A |
| 2021-01-08 | $1023.01 | 95.42% | $27,800 | 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: 1900
- Architectural Style: Two Story
- Building Area: 1,320
- Living Area: 1,320 sqft
- Property Condition: Good Condition
Features & Amenities
- Heating: Forced Air, Gas
- Cooling: N/A
- Flooring: Vinyl
- Interior Features: Cable TV
- Exterior Features: Porch
- Parking Features: N/A
Location
- City: Erie
- Subdivision: N/A
- Lot Size: 2,635 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: Cate Hoopaugh • Howard Hanna Erie Southwest
Mls Name: GEMLS
Mls ID: #180224
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.