1855 Cherokee Dr UNIT 1SalinasCA93906
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1855 Cherokee Dr UNIT 1, Salinas, CA, 93906 in Salinas at $375,000 earns $2,929/mo in rent and nets $14/mo after the $1,686/mo payment, a 9.37% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $103,606 over five years. Ziffy Mortgage underwrites this on a 1.74 DSCR without U.S. credit history. With $3,454/yr in principal paydown, total projected return reaches $145,724.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.5% |
| Monthly Cash Flow | $14 | $400 |
City averages based on Salinas market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,929 |
| Total Monthly Debt Service | $2,766 |
| DSCR Ratio | 1.06x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1984
N/A lot
$N/A/sqft
$595 monthly 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
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
Condo
Built in 1984
N/A lot
$N/A/sqft
$595 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Leidi Godoy • Coldwell Banker/Gay Dales
Mls Name: MLSListings Inc
Mls Provider:
Mls ID: #ML81998695
Disclaimer: Based on information from the MLSListings MLS as of 2025-03-20 10:21:29 PDT. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.