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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Salem at 233 24th St NE, Salem, OR, 97301 offers a 8.85% rental yield on a $289,000 purchase with $2,131/mo rent. Total monthly income registers $2,131/mo, and a $1,415/mo payment leaves $386/mo available for distribution. Annual cash flow reaches $4,633/yr on $95,804 to close, and return on cash invested stands at 24.74% in year one. Equity gained on principal adds $1,865/yr while 5% annual appreciation supports $79,845 over five years. Portfolio math shows five-year ROI at 128.63% and total cumulative return in cash at $123,230. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,131/mo property income against a $1,415/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1925
4,792 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
| 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 |
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
Date | Event | Price |
|---|---|---|
| 2024-10-18 | Listed for sale | $289,000 |
| 2016-06-10 | Sold | $148,000 |
| 2016-04-05 | Listed for sale | $135,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-10-18 | $1786.05 | 2.88% | $88,350 | N/A |
| 2022-10-18 | $1736.06 | 2.94% | $88,350 | 3.00% |
| 2021-10-18 | $1686.49 | 2.99% | $85,780 | 6.07% |
Listed by: TREY GRAHAM • Realty First Llc
Mls Name: WVMLS
Mls Provider:
Mls ID: #822529
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.
