1385 Waller St SE, Salem, OR, 97302 | $589/mo Cash Flow

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1385 Waller St SE, Salem, OR, 97302 | $589/mo Cash Flow | 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

Investment property for sale in Salem at 1385 Waller St SE, Salem, OR, 97302 offers a 9.1% rental yield on a $379,900 purchase with $2,882/mo rent. Total monthly income registers $2,882/mo, and a $1,859/mo payment leaves $589/mo available for distribution. Annual cash flow reaches $7,071/yr on $125,937 to close, and return on cash invested stands at 25.52% in year one. Equity gained on principal adds $2,451/yr while 5% annual appreciation supports $104,959 over five years. Portfolio math shows five-year ROI at 132.77% and total cumulative return in cash at $167,201. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,882/mo property income against a $1,859/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1920

5,250 sqft lot

$N/A/sqft

No HOA

More details about the property

Open the door to a bright updated home. Wonderful 1920's home in the heart of Salem. Brand new flooring, trim and interior paint. Freshly updated bathroom. 3 bedrooms and 1 bath downstairs. Take advantage of the extra space upstairs for another bedroom or office. Attached garage and a huge 16'x25' shop that features a loft for extra storage! Alley access. Close to bush park, shopping, & downtown.

Neighborhood Data

Neighborhood data shown for ZIP Code: 97302, Salem, OR area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	18,440 (100%)
Owner Occupied HU	10,373 (56.3%)
Renter Occupied HU	7,247 (39.3%)
Vacant Housing Units	820 ( 4.4%)
Median Home Value	$492,171
Average Home Value	$541,750