1385 Norway St NESalemOR97301
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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
Total monthly income runs $1,975/mo, and a $1,747/mo payment. Purchase price stands at $357,000, and rental yield measures 6.64% with $1,975/mo rent. Return on cash invested shows 18.09% in year one, and 5% annual appreciation builds toward $98,633 over five years. Five-year ROI reaches 92.89% and total cumulative return in cash records $109,936. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,975/mo property income covering a $1,747/mo payment rather than investor’s personal income.
Single Family
Built in 1948
5,000 sqft lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
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Listed by: MELINA TOMSON • Tomson Burnham, Llc
Mls Name: WVMLS
Mls Provider:
Mls ID: #828002
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.