1556 Joplin St SSalemOR97302
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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 1556 Joplin St S, Salem, OR, 97302 uses $132,600 cash to close to unlock $1,504/yr annual cash flow and $125/mo monthly cash flow. Total monthly income runs $2,540/mo, and a $1,958/mo payment keeps the spread at $125/mo. Purchase price stands at $400,000, and rental yield measures 7.62% with $2,540/mo rent. Return on cash invested shows 21.04% in year one, and 5% annual appreciation builds toward $110,513 over five years. Five-year ROI reaches 108.74% and total cumulative return in cash records $144,196. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,540/mo property income covering a $1,958/mo payment rather than investor’s personal income.
Single Family
Built in 1967
8,000 sqft lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
17,376
Single Family
15,481
Multi-Family
1,895
Businesses
2,021
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