1148 Icel Ct NE, Salem, OR, 97301 | 6.86% Rental Yield

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1148 Icel Ct NE, Salem, OR, 97301 | 6.86% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Salem at 1148 Icel Ct NE, Salem, OR, 97301 generates $2,057/mo in rent, after a $1,762/mo payment. Total monthly income is $2,057/mo. Return on cash invested sits at 18.74% in year one, and rental yield is 6.86% on a $359,900 entry. Equity gained on principal adds $2,322/yr, while 5% annual appreciation builds toward $99,434 over five years. Five-year ROI reaches 96.43% and total cumulative return in cash sums $115,046. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,057/mo property income rather than buyer’s personal income.

Single Family

Built in 1952

9,148 sqft lot

$N/A/sqft

No HOA

More details about the property

Beautifully updated single-level 2-Bedroom home with a huge, magical, fenced back yard. Updates include new roof, all new paint inside and out, refinished cabinets, all new quartz countertops, refinished genuine hardwood floors, all new plumbing and light fixtures, new furnace and nice storage cabinets in the garage and so much more... come take a look. You're in for a treat!

Neighborhood Data

Neighborhood data shown for ZIP Code: 97301, Salem, OR area.

Housing Distribution

Housing Statistics

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