281 Essex St #201SalemMA01970
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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 281 Essex St #201, Salem, MA, 01970 earns from $3,421/mo rent with a $2,747/mo payment. Total monthly income totals $3,421/mo. ROI tracks 17.07% on current figures, and rental yield reads 7.31% at a $561,300 purchase. Equity gained on principal adds $3,622/yr, and 5% annual appreciation supports $155,077 over five years. Five-year ROI reaches 88.58% and total cumulative return in cash sums $163,577. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,421/mo property income instead of your personal income.
Condo
Built in 1900
N/A lot
$N/A/sqft
$343 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
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Listed by: N/A • N/A
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Mls ID: #N/A