1630 Wallace Rd NW UNIT 30SalemOR97304
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
Investment property for sale in Salem at 1630 Wallace Rd NW UNIT 30, Salem, OR, 97304 offers a 12.37% rental yield on a $199,000 purchase with $2,051/mo rent. Total monthly income registers $2,051/mo, and a $974/mo payment leaves $850/mo available for distribution. Annual cash flow reaches $10,198/yr on $65,969 to close, and return on cash invested stands at 35.37% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 185.55% and total cumulative return in cash at $122,406. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,051/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Manufactured
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97304, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,298 (100%) |
| Owner Occupied HU | 9,012 (63.0%) |
| Renter Occupied HU | 4,744 (33.2%) |
| Vacant Housing Units | 542 ( 3.8%) |
| Median Home Value | $502,291 |
| Average Home Value | $545,006 |
Housing Distribution
Address Breakdown
Residential
13,298
Single Family
12,487
Multi-Family
811
Businesses
616
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Nearby investment properties with comparable prices
Listed by: CASEY OLIVER • Smi Real Estate
Mls Name: WVMLS
Mls Provider:
Mls ID: #829892
Disclaimer: Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market.