2834 Florence Ave NESalemOR97301
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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 2834 Florence Ave NE, Salem, OR, 97301 offers $3,289/mo rent that, after a $2,325/mo payment, leaves $422/mo cash flow. Total monthly income is $3,289/mo, and annual cash flow is $5,061/yr on $157,463 cash. Return on cash invested measures 23.12% in year one, and rental yield stands at 8.31% at a $475,000 entry. Equity gained on principal adds $3,065/yr while 5% annual appreciation compounds into $131,234 by year five. Five-year ROI records 119.87% and total cumulative return in cash reaches $188,755. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,289/mo property income versus a $2,325/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1958
6,478 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
Housing Distribution
Housing Statistics
| 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 |
Housing Distribution
Address Breakdown
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
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Listed by: LEVI WILSON • Ned Baker Real Estate
Mls Name: WVMLS
Mls Provider:
Mls ID: #821413
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.