2355 Waverunner CoveSalemIL62881
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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 Salem at 2355 Waverunner Cove, Salem, IL, 62881 priced at $187,000 converts $1,109/mo rent into after a $915/mo obligation. Total monthly income equals $1,109/mo. Return on cash invested prints 16.27% in year one, and rental yield reads 7.12% against a $187,000 entry. Equity gained on principal adds $1,207/yr, while 5% annual appreciation compiles into $51,665 by year five. Five-year ROI reaches 84.41% and total cumulative return in cash sums $52,326. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,109/mo property income covering a $915/mo payment, not borrower’s personal income.
Single Family
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62881, Salem, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,931 (100%) |
| Owner Occupied HU | 3,300 (66.9%) |
| Renter Occupied HU | 1,177 (23.9%) |
| Vacant Housing Units | 454 ( 9.2%) |
| Median Home Value | $119,093 |
| Average Home Value | $157,119 |
Housing Distribution
Address Breakdown
Residential
4,702
Single Family
4,462
Multi-Family
240
Businesses
492
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Listed by: Stacey Russell • SOMER REAL ESTATE
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #EB457765
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.