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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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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% |
Rental property for sale in Salem at 1085 15th St NE, Salem, OR, 97301 generates $1,663/mo in rent, after a $1,554/mo payment. Total monthly income is $1,663/mo. Return on cash invested sits at 17.02% in year one, and rental yield is 6.29% on a $317,500 entry. Equity gained on principal adds $2,049/yr, while 5% annual appreciation builds toward $87,719 over five years. Five-year ROI reaches 87.15% and total cumulative return in cash sums $91,726. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,663/mo property income rather than buyer’s personal income.
Single Family
Built in 1939
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,878 (100%) |
| Owner Occupied HU | 9,197 (44.1%) |
| Renter Occupied HU | 10,642 (51.0%) |
| Vacant Housing Units | 1,039 ( 5.0%) |
| Median Home Value | $368,479 |
| Average Home Value | $403,096 |
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
Date | Event | Price |
|---|---|---|
| 2025-08-05 | Sold | $317,500 |
| 2025-07-01 | Contingent | $305,000 |
| 2025-06-26 | Listed for sale | $305,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-27 | $2081.83 | 3.03% | $106,030 | 6.07% |
| 2023-10-27 | $2020.62 | 2.87% | $99,960 | N/A |
| 2022-10-27 | $1964.23 | 2.94% | $99,960 | 3.00% |
Listed by: MAT GENUSER • Works Real Estate
Mls Name: WVMLS
Mls Provider:
Mls ID: #830203
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.
