2407 Barnside CtSalemVA24153
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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
Investment property for sale in Salem at 2407 Barnside Ct, Salem, VA, 24153 uses $82,046 cash to close to unlock $2,374/yr annual cash flow and $198/mo monthly cash flow. Total monthly income runs $1,677/mo, and a $1,211/mo payment keeps the spread at $198/mo. Purchase price stands at $247,500, and rental yield measures 8.13% with $1,677/mo rent. Return on cash invested shows 22.8% in year one, and 5% annual appreciation builds toward $68,380 over five years. Five-year ROI reaches 118.07% and total cumulative return in cash records $96,869. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,677/mo property income covering a $1,211/mo payment rather than investor’s personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24153, Salem, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 11,469 (68.0%) |
| Renter Occupied HU | 4,141 (24.5%) |
| Vacant Housing Units | 1,264 ( 7.5%) |
| Median Home Value | $317,038 |
| Average Home Value | $367,775 |
Housing Distribution
Address Breakdown
Residential
16,321
Single Family
15,046
Multi-Family
1,275
Businesses
1,603
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