113-115 W 1st St SUITE 117SalemVA24153
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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
Investment property for sale in Salem at 113-115 W 1st St SUITE 117, Salem, VA, 24153 offers a 2.65% rental yield on a $949,950 purchase with $2,100/mo rent. 32% in year one. Equity gained on principal adds $6,130/yr while 5% annual appreciation supports $262,454 over five years. Portfolio math shows five-year ROI at 29.64% and total cumulative return in cash at $92,650. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,100/mo property income against a $4,650/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 2006
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24153, Salem, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 11,469 (68.0%) |
| Renter Occupied HU | 4,141 (24.5%) |
| Vacant Housing Units | 1,264 ( 7.5%) |
| Median Home Value | $317,038 |
| Average Home Value | $367,775 |
Housing Distribution
Address Breakdown
Residential
16,321
Single Family
15,046
Multi-Family
1,275
Businesses
1,603
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