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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Salem at 321 24th St SE, Salem, OR, 97301 generates $3,102/mo in rent and, after a $2,349/mo payment, leaves $205/mo in cash flow. Total monthly income is $3,102/mo, and annual cash flow is $2,461/yr on $159,087 invested. Return on cash invested sits at 21.46% in year one, and rental yield is 7.76% on a $479,900 entry. Equity gained on principal adds $3,097/yr, while 5% annual appreciation builds toward $132,588 over five years. Five-year ROI reaches 110.96% and total cumulative return in cash sums $176,529. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,102/mo property income rather than buyer’s personal income.
Single Family
Built in 1921
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
| 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 |
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
Date | Event | Price |
|---|---|---|
| 2025-04-17 | Price change | $479,900 |
| 2025-04-04 | Listed for sale | $495,000 |
| 2024-04-16 | Listing removed | $379,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-04-19 | $4098.68 | 0.80% | $206,930 | N/A |
| 2022-04-19 | $4066.18 | 2.94% | $206,930 | 3.00% |
| 2021-04-19 | $3950.06 | 3.00% | $200,910 | 6.09% |
Listed by: HEATHER RAUH • Homesmart Realty Group
Mls Name: WVMLS
Mls Provider:
Mls ID: #824414
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.
