1015 W Spruce StSalemIL62881
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Investment Highlights
Rental property for sale in Salem at 1015 W Spruce St, Salem, IL, 62881 generates $1,418/mo in rent, after a $1,052/mo payment. Total monthly income is $1,418/mo. Return on cash invested sits at 18.68% in year one, and rental yield is 7.92% on a $214,900 entry. Equity gained on principal adds $1,387/yr, while 5% annual appreciation builds toward $59,373 over five years. Five-year ROI reaches 97.3% and total cumulative return in cash sums $69,318. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,418/mo property income rather than buyer’s personal income.
Single Family
Built in 1974
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62881, Salem, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,931 (100%) |
| Owner Occupied HU | 3,300 (66.9%) |
| Renter Occupied HU | 1,177 (23.9%) |
| Vacant Housing Units | 454 ( 9.2%) |
| Median Home Value | $119,093 |
| Average Home Value | $157,119 |
Housing Distribution
Address Breakdown
Residential
4,702
Single Family
4,462
Multi-Family
240
Businesses
492
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
