1840 Cherokee Dr UNIT 2SalinasCA93906
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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
Rental property for sale in Salinas at 1840 Cherokee Dr UNIT 2, Salinas, CA, 93906 generates $4,315/mo in rent and, after a $2,839/mo payment, leaves $727/mo in cash flow. Total monthly income is $4,315/mo, and annual cash flow is $8,722/yr on $190,820 invested. Return on cash invested sits at 24.63% in year one, and rental yield is 8.93% on a $580,000 entry. Equity gained on principal adds $3,743/yr, while 5% annual appreciation builds toward $160,243 over five years. Five-year ROI reaches 128.12% and total cumulative return in cash sums $244,485. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,315/mo property income rather than buyer’s personal income.
Townhouse
Built in 1982
1,555 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93906, Salinas, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,556 (100%) |
| Owner Occupied HU | 9,176 (49.5%) |
| Renter Occupied HU | 8,759 (47.2%) |
| Vacant Housing Units | 621 ( 3.3%) |
| Median Home Value | $644,358 |
| Average Home Value | $745,036 |
Housing Distribution
Address Breakdown
Residential
17,761
Single Family
15,603
Multi-Family
2,158
Businesses
903
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Listed by: Regina Shaw • Intero Real Estate Services
Mls Name: MLSListings Inc
Mls ID: #ML82023364