1056 Padre Dr UNIT 8SalinasCA93901
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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 Salinas at 1056 Padre Dr UNIT 8, Salinas, CA, 93901 generates $2,503/mo in rent, after a $2,389/mo payment. Total monthly income is $2,503/mo. Return on cash invested sits at 16.08% in year one, and rental yield is 6.15% on a $488,000 entry. Equity gained on principal adds $3,149/yr, while 5% annual appreciation builds toward $134,825 over five years. Five-year ROI reaches 82.3% and total cumulative return in cash sums $133,136. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,503/mo property income rather than buyer’s personal income.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93901, Salinas, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,104 (100%) |
| Owner Occupied HU | 4,339 (39.1%) |
| Renter Occupied HU | 6,104 (55.0%) |
| Vacant Housing Units | 661 ( 6.0%) |
| Median Home Value | $758,452 |
| Average Home Value | $876,198 |
Housing Distribution
Address Breakdown
Residential
10,686
Single Family
8,645
Multi-Family
2,041
Businesses
2,450
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Listed by: Richard Gonzales • Coldwell Banker Realty
Mls Name: MLSListings Inc
Mls ID: #ML82025206