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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 1351 Elm St NW, Salem, OR, 97304 offers $2,420/mo rent that, after a $1,659/mo payment, leaves $374/mo cash flow. Total monthly income is $2,420/mo, and annual cash flow is $4,488/yr on $112,362 cash. Return on cash invested measures 23.9% in year one, and rental yield stands at 8.57% at a $338,950 entry. Equity gained on principal adds $2,187/yr while 5% annual appreciation compounds into $93,646 by year five. Five-year ROI records 124.1% and total cumulative return in cash reaches $139,441. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,420/mo property income versus a $1,659/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
4,792 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97304, Salem, OR area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,298 (100%) |
| Owner Occupied HU | 9,012 (63.0%) |
| Renter Occupied HU | 4,744 (33.2%) |
| Vacant Housing Units | 542 ( 3.8%) |
| Median Home Value | $502,291 |
| Average Home Value | $545,006 |
Residential
13,298
Single Family
12,487
Multi-Family
811
Businesses
616
Date | Event | Price |
|---|---|---|
| 2025-04-01 | Listed for sale | $338,950 |
| 2023-11-22 | Listing removed | N/A |
| 2023-10-19 | Listed for rent | $1,995 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-04-03 | $2325.54 | 3.31% | $123,390 | 3.00% |
| 2022-04-03 | $2251.12 | 2.93% | $119,800 | 2.99% |
| 2021-04-03 | $2187.02 | 3.05% | $116,320 | 2.99% |
Listed by: HANNAH THOMPSON • Ned Baker Real Estate
Mls Name: WVMLS
Mls Provider:
Mls ID: #827156
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.
