1045 Cardinal St NWSalemOR97304
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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
Investment Highlights
Rental property for sale in Salem at 1045 Cardinal St NW, Salem, OR, 97304 generates $1,980/mo in rent, after a $1,394/mo payment. Total monthly income is $1,980/mo. Return on cash invested sits at 17.09% in year one, and rental yield is 8.34% on a $284,900 entry. Equity gained on principal adds $1,838/yr, while 5% annual appreciation builds toward $78,713 over five years. Five-year ROI reaches 89.78% and total cumulative return in cash sums $84,791. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,980/mo property income rather than buyer’s personal income.
Condo
Built in 1970
N/A lot
$N/A/sqft
$475 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97304, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,298 (100%) |
| Owner Occupied HU | 9,012 (63.0%) |
| Renter Occupied HU | 4,744 (33.2%) |
| Vacant Housing Units | 542 ( 3.8%) |
| Median Home Value | $502,291 |
| Average Home Value | $545,006 |
Housing Distribution
Address Breakdown
Residential
13,298
Single Family
12,487
Multi-Family
811
Businesses
616
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Nearby investment properties with comparable prices
Listed by: CONNIE BASINGER • Berkshire Hathaway Homeservices R E Prof
Mls Name: WVMLS
Mls Provider:
Mls ID: #830777
Disclaimer: Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market.