1602 NE Riverside Dr UNIT 27, McMinnville, OR, 97128 | $1,812/mo Cash Flow

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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 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

More details about the property

1985 Commodore, 1248 ft. three bedrooms, two bath, textured walls, vaulted ceilings, heat pump, mini split, all kitchen appliances, including washer dryer. Wheelchair ramp with front deck. Wood laminate flooring, breakfast bar, fenced yard for small dog. Several ceiling fans, side by side parking, next to parks overflow parking, space rent of only $715, Located in 55% community with Clubhouse. 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