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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Salem at 1585 E Park Ave NE, Salem, OR, 97301 priced at $389,000 pairs $2,617/mo rent with $269/mo cash flow after a $1,904/mo payment. Total monthly income equals $2,617/mo, and annual cash flow comes to $3,227/yr on $128,954 invested. Return on cash invested is 22.41% in year one, and rental yield stands at 8.07% on a $389,000 basis. Equity gained on principal adds $2,510/yr, and 5% annual appreciation accumulates to $107,474 by year five. Five-year ROI measures 116.06% and total cumulative return in cash reaches $149,658. For financing, Ziffy Mortgage’s DSCR program evaluates $2,617/mo property income against a $1,904/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1943
5,663 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
| 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 |
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
Date | Event | Price |
|---|---|---|
| 2025-04-04 | Listed for sale | $389,000 |
| 2024-10-05 | Listing removed | $315,000 |
| 2022-03-03 | Listing removed | N/A |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-04-04 | $2347.56 | 2.88% | $116,130 | N/A |
| 2022-04-04 | $2281.94 | 2.94% | $116,130 | 3.00% |
| 2021-04-04 | $2216.76 | 3.00% | $112,750 | 6.08% |
Listed by: KEVIN RILEY • Vantage Point Brokers, Llc
Mls Name: WVMLS
Mls Provider:
Mls ID: #827272
Disclaimer: Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market.
