1409 Rig StSalemIL62881
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1409 Rig St, Salem, IL, 62881 in Salem at $148,000 earns $1,182/mo in rent and nets $155/mo after the $666/mo payment, a 9.58% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $40,890 over five years. Ziffy Mortgage underwrites this on a 1.77 DSCR without U.S. credit history. With $1,363/yr in principal paydown, total projected return reaches $66,575.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 7.0% |
| Monthly Cash Flow | $155 | $300 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,182 |
| Total Monthly Debt Service | $968 |
| DSCR Ratio | 1.22x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1999
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62881, Salem, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,931 (100%) |
| Owner Occupied HU | 3,300 (66.9%) |
| Renter Occupied HU | 1,177 (23.9%) |
| Vacant Housing Units | 454 ( 9.2%) |
| Median Home Value | $119,093 |
| Average Home Value | $157,119 |
Housing Distribution
Address Breakdown
Residential
4,702
Single Family
4,462
Multi-Family
240
Businesses
492
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
Single Family
Built in 1999
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62881, Salem, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,931 (100%) |
| Owner Occupied HU | 3,300 (66.9%) |
| Renter Occupied HU | 1,177 (23.9%) |
| Vacant Housing Units | 454 ( 9.2%) |
| Median Home Value | $119,093 |
| Average Home Value | $157,119 |
Housing Distribution
Address Breakdown
Residential
4,702
Single Family
4,462
Multi-Family
240
Businesses
492
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices