1602 NE Riverside Dr UNIT 28McMinnvilleOR97128
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Rental property for sale in McMinnville at 1602 NE Riverside Dr UNIT 28, McMinnville, OR, 97128 generates $1,098/mo in rent and, after a $709/mo payment, leaves $224/mo in cash flow. Total monthly income is $1,098/mo, and annual cash flow is $2,683/yr on $48,034 invested. Return on cash invested sits at 25.49% in year one, and rental yield is 9.09% on a $144,900 entry. Equity gained on principal adds $935/yr, while 5% annual appreciation builds toward $40,033 over five years. Five-year ROI reaches 132.61% and total cumulative return in cash sums $63,697. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,098/mo property income rather than buyer’s personal income.
Manufactured
Built in 1985
1,296 sqft 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Amy Spencer • J and M Homes,LLC
Mls Name: My State MLS
Mls ID: #11587351