330 Grove St NESalemOR97301
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 330 Grove St NE, Salem, OR, 97301 in Salem: $2,400/mo in rent, $897/mo net, 11.57% gross yield, all on a $249,000 acquisition. The 2.14 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $68,794 in value, and $2,293/yr in principal paydown steadily builds equity. Projected total cumulative return: $151,965.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 5.8% |
| Monthly Cash Flow | $897 | $420 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,400 |
| Total Monthly Debt Service | $1,404 |
| DSCR Ratio | 1.71x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1925
3,049 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1925
3,049 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices