301 N Broad StSalemVA24153
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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 301 N Broad St, Salem, VA, 24153 with 5% annual appreciation on a $699,000 basis while $2,956/mo rent supports operations. 68% in year one. Equity gained on principal adds $4,511/yr, and five-year appreciation sums $193,121 alongside rental yield of 5.07%. Five-year ROI measures 69.13% and total cumulative return in cash totals $158,990. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,956/mo property income versus a $3,421/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1923
0.39 Acres 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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