27 Ocean Ave #1SalemMA01970
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
Investment Highlights
Rental property for sale in Salem at 27 Ocean Ave #1, Salem, MA, 01970 generates $3,068/mo in rent, after a $2,432/mo payment. Total monthly income is $3,068/mo. Return on cash invested sits at 18.72% in year one, and rental yield is 7.41% on a $496,900 entry. Equity gained on principal adds $3,206/yr, while 5% annual appreciation builds toward $137,284 over five years. Five-year ROI reaches 96.88% and total cumulative return in cash sums $159,582. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,068/mo property income rather than buyer’s personal income.
Condo
Built in 1915
4,356 sqft lot
$N/A/sqft
$100 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A