10 Norman St APT 502SalemMA01970
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 10 Norman St APT 502, Salem, MA, 01970 in Salem earns a 9.71% gross yield at $449,000. Rent of $3,634/mo nets $301/mo after the $2,128/mo mortgage. The 1.71 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $124,050 and $3,764/yr in equity accumulation project a total cumulative return of $213,809.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 5.2% |
| Monthly Cash Flow | $301 | $250 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $3,634 |
| Total Monthly Debt Service | $2,761 |
| DSCR Ratio | 1.32x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
Nearby investment properties with comparable rents
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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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: MLS PIN
Mls ID: #73570488
