1361 Madras St SESalemOR97306
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
Investment Highlights
Rental property for sale in Salem at 1361 Madras St SE, Salem, OR, 97306 priced at $237,097 converts $2,093/mo rent into $357/mo cash flow after a $1,160/mo obligation. Total monthly income equals $2,093/mo, and annual cash flow totals $4,285/yr on $78,598 invested. Return on cash invested prints 25.36% in year one, and rental yield reads 10.59% against a $237,097 entry. Equity gained on principal adds $1,530/yr, while 5% annual appreciation compiles into $65,506 by year five. Five-year ROI reaches 133.63% and total cumulative return in cash sums $105,027. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,093/mo property income covering a $1,160/mo payment, not borrower’s personal income.
Condo
Built in 1973
559 sqft lot
$N/A/sqft
$290 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97306, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,384 (100%) |
| Owner Occupied HU | 8,940 (66.8%) |
| Renter Occupied HU | 3,980 (29.7%) |
| Vacant Housing Units | 464 ( 3.5%) |
| Median Home Value | $505,414 |
| Average Home Value | $554,238 |
Housing Distribution
Address Breakdown
Residential
13,956
Single Family
13,531
Multi-Family
425
Businesses
207
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: SEAN NIKAS • Busy Bees Team
Mls Name: WVMLS
Mls Provider:
Mls ID: #828333
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.