2997 Michigan City Ln NWSalemOR97304
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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 2997 Michigan City Ln NW, Salem, OR, 97304 priced at $679,900 pairs $3,037/mo rent with after a $3,328/mo payment. Total monthly income equals $3,037/mo. Return on cash invested is 14.34% in year one, and rental yield stands at 5.36% on a $679,900 basis. Equity gained on principal adds $4,387/yr, and 5% annual appreciation accumulates to $187,844 by year five. Five-year ROI measures 72.71% and total cumulative return in cash reaches $162,641. For financing, Ziffy Mortgage’s DSCR program evaluates $3,037/mo property income against a $3,328/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1945
12.04 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97304, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,298 (100%) |
| Owner Occupied HU | 9,012 (63.0%) |
| Renter Occupied HU | 4,744 (33.2%) |
| Vacant Housing Units | 542 ( 3.8%) |
| Median Home Value | $502,291 |
| Average Home Value | $545,006 |
Housing Distribution
Address Breakdown
Residential
13,298
Single Family
12,487
Multi-Family
811
Businesses
616
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