1602 NE Riverside Dr UNIT 27McMinnvilleOR97128
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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 27, McMinnville, OR, 97128 offers a 27.19% rental yield on a $109,000 purchase with $2,470/mo rent. Total monthly income registers $2,470/mo, and a $534/mo payment leaves $1,812/mo available for distribution. Annual cash flow reaches $21,739/yr on $36,134 to close, and return on cash invested stands at 80.07% in year one. Equity gained on principal adds $703/yr while 5% annual appreciation supports $30,115 over five years. Portfolio math shows five-year ROI at 425.32% and total cumulative return in cash at $153,682. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,470/mo property income against a $534/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Manufactured
Built in 1985
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: Marjorie Baker • NW HomeBuyers net LLC
Mls Name: My State MLS
Mls ID: #11352427