11 Read St #5SalemMA01970
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 11 Read St #5, Salem, MA, 01970 in Salem. Priced at $280,500, it generates $3,385/mo in gross rent and $1,242/mo in net monthly cash flow, a 14.48% yield that comfortably supports the 2.68 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $14,907. Five-year appreciation: $77,497. Equity from principal paydown: $2,583/yr. Total projected cumulative return: $188,061.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.5% | 5.2% |
| Monthly Cash Flow | $1,242 | $250 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,385 |
| Total Monthly Debt Service | $2,031 |
| DSCR Ratio | 1.67x |
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 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1980
N/A lot
$N/A/sqft
$375 monthly 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
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
Condo
Built in 1980
N/A lot
$N/A/sqft
$375 monthly 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
Nearby investment properties with comparable prices