2243 32nd Ave NESalemOR97301
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 2243 32nd Ave NE, Salem, OR, 97301 in Salem at $387,000 earns $2,378/mo in rent and nets $42/mo after the $1,740/mo payment, a 7.37% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $106,921 over five years. Ziffy Mortgage underwrites this on a 1.37 DSCR without U.S. credit history. With $3,564/yr in principal paydown, total projected return reaches $149,245.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.4% | 5.8% |
| Monthly Cash Flow | $42 | $420 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,378 |
| Total Monthly Debt Service | $2,182 |
| DSCR Ratio | 1.09x |
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.
Single Family
Built in 1948
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,878 (100%) |
| Owner Occupied HU | 9,197 (44.1%) |
| Renter Occupied HU | 10,642 (51.0%) |
| Vacant Housing Units | 1,039 ( 5.0%) |
| Median Home Value | $368,479 |
| Average Home Value | $403,096 |
Housing Distribution
Address Breakdown
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
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
Single Family
Built in 1948
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,878 (100%) |
| Owner Occupied HU | 9,197 (44.1%) |
| Renter Occupied HU | 10,642 (51.0%) |
| Vacant Housing Units | 1,039 ( 5.0%) |
| Median Home Value | $368,479 |
| Average Home Value | $403,096 |
Housing Distribution
Address Breakdown
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices