2293 47th Ave NESalemOR97305
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who treat current yield as secondary to long-run equity growth will find 2293 47th Ave NE, Salem, OR, 97305 in Salem worth modelling. At $365,000 with a 7.77% gross yield, the $2,363/mo rent leaves $110/mo after the $1,641/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.44 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $100,843 by year five; $3,362/yr in principal reduction adds further equity. Total projected return: $145,500.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.8% | 5.8% |
| Monthly Cash Flow | $110 | $420 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,363 |
| Total Monthly Debt Service | $2,108 |
| DSCR Ratio | 1.12x |
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.
Manufactured
Built in 2023
5,227 sqft lot
$N/A/sqft
$150 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97305, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,206 (100%) |
| Owner Occupied HU | 8,699 (53.7%) |
| Renter Occupied HU | 7,030 (43.4%) |
| Vacant Housing Units | 477 ( 2.9%) |
| Median Home Value | $391,262 |
| Average Home Value | $416,883 |
Housing Distribution
Address Breakdown
Residential
15,796
Single Family
14,699
Multi-Family
1,097
Businesses
798
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
Manufactured
Built in 2023
5,227 sqft lot
$N/A/sqft
$150 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97305, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,206 (100%) |
| Owner Occupied HU | 8,699 (53.7%) |
| Renter Occupied HU | 7,030 (43.4%) |
| Vacant Housing Units | 477 ( 2.9%) |
| Median Home Value | $391,262 |
| Average Home Value | $416,883 |
Housing Distribution
Address Breakdown
Residential
15,796
Single Family
14,699
Multi-Family
1,097
Businesses
798
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: LUA EDMONSON • Premiere Property Group, Llc Albany
Mls Name: WVMLS
Mls Provider:
Mls ID: #826876
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.