1602 NE Riverside Dr UNIT 2McMinnvilleOR97128
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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 McMinnville at 1602 NE Riverside Dr UNIT 2, McMinnville, OR, 97128 uses $50,720 cash to close to unlock $2,956/yr annual cash flow and $246/mo monthly cash flow. Total monthly income runs $1,170/mo, and a $749/mo payment keeps the spread at $246/mo. Purchase price stands at $153,000, and rental yield measures 9.18% with $1,170/mo rent. Return on cash invested shows 25.74% in year one, and 5% annual appreciation builds toward $42,271 over five years. Five-year ROI reaches 133.96% and total cumulative return in cash records $67,944. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,170/mo property income covering a $749/mo payment rather than investor’s personal income.
Manufactured
Built in 1984
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97128, Mcminnville, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,432 (100%) |
| Owner Occupied HU | 9,318 (60.4%) |
| Renter Occupied HU | 5,237 (33.9%) |
| Vacant Housing Units | 877 ( 5.7%) |
| Median Home Value | $475,888 |
| Average Home Value | $526,058 |
Housing Distribution
Address Breakdown
Residential
15,300
Single Family
13,960
Multi-Family
1,340
Businesses
1,475
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Listed by: James Bailes • Affordable Homes Company
Mls Name: My State MLS
Mls ID: #11604941