1406 Lancer DrSalemVA24153
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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
Investment property for sale in Salem at 1406 Lancer Dr, Salem, VA, 24153 earns $348/mo cash flow from $2,112/mo rent with a $1,444/mo payment. Total monthly income totals $2,112/mo, and annual cash flow totals $4,182/yr on $97,776 capital. ROI tracks 24.19% on current figures, and rental yield reads 8.59% at a $294,950 purchase. Equity gained on principal adds $1,903/yr, and 5% annual appreciation supports $81,489 over five years. Five-year ROI reaches 125.53% and total cumulative return in cash sums $122,734. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,112/mo property income instead of your personal income.
Single Family
Built in 1973
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24153, Salem, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 11,469 (68.0%) |
| Renter Occupied HU | 4,141 (24.5%) |
| Vacant Housing Units | 1,264 ( 7.5%) |
| Median Home Value | $317,038 |
| Average Home Value | $367,775 |
Housing Distribution
Address Breakdown
Residential
16,321
Single Family
15,046
Multi-Family
1,275
Businesses
1,603
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