1602 NE Riverside Dr UNIT 2, McMinnville, OR, 97128 | $299/mo Cash Flow

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1602 NE Riverside Dr UNIT 2, McMinnville, OR, 97128 | $299/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 McMinnville at 1602 NE Riverside Dr UNIT 2, McMinnville, OR, 97128 uses $50,720 cash to close to unlock $3,592/yr annual cash flow and $299/mo monthly cash flow. Total monthly income runs $1,223/mo, and a $749/mo payment keeps the spread at $299/mo. Purchase price stands at $153,000, and rental yield measures 9.59% with $1,223/mo rent. Return on cash invested shows 26.99% in year one, and 5% annual appreciation builds toward $42,271 over five years. Five-year ROI reaches 140.68% and total cumulative return in cash records $71,352. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,223/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

More details about the property

FOR SALE 1984 Fleetwood Manufactured Home in EXCELLENT condition. Beautifully updated, new paint (inside and out), new laminate flooring, new carpet in bedrooms, new double paned white vinyl windows, new stainless-steel appliances, updated cabinets throughout and countertops, new soaker tub/shower, new vaulted ceilings, new roof, new gutters &siding, new deck and porch, new underbelly and insulation, more to see! 3 Bedrooms 2 bath, 1100 sq ft. Awesome Pool and Clubhouse with a Great Neighborhood, 55+ park. $750 space rent $153,000 FINANCING AVAILABLE!.

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