1515 Norway St NE, Salem, OR, 97301 | $170/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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1515 Norway St NE, Salem, OR, 97301 | $170/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 1515 Norway St NE, Salem, OR, 97301 uses $109,395 cash to close to unlock $2,043/yr annual cash flow and $170/mo monthly cash flow. Total monthly income runs $2,162/mo, and a $1,615/mo payment keeps the spread at $170/mo. Purchase price stands at $330,000, and rental yield measures 7.86% with $2,162/mo rent. Return on cash invested shows 21.78% in year one, and 5% annual appreciation builds toward $91,173 over five years. Five-year ROI reaches 112.69% and total cumulative return in cash records $123,275. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,162/mo property income covering a $1,615/mo payment rather than investor’s personal income.

Single Family

Built in 1948

4,791 sqft lot

$N/A/sqft

No HOA

More details about the property

Open house on 10/11 1-3pm. Welcome home to this charming 3-bedroom, 1-bath residence in a well-established neighborhood. Step inside to find gleaming hardwood floors, a cozy fireplace, and a thoughtful layout that feels both spacious and inviting. The primary bedroom features brand-new carpet, while the kitchen and bathroom boast fresh flooring for a modern touch. Enjoy year-round relaxation in the enclosed patio with hot tub, overlooking the fully fenced backyard perfect for gatherings, pets, or play. With its blend of comfort, updates, and character, this home is ready and waiting for its next chapter.

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