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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 351 18th St NE, Salem, OR, 97301 generates $2,423/mo in rent and, after a $1,297/mo payment, leaves $420/mo in cash flow. Total monthly income is $2,423/mo, and annual cash flow is $5,042/yr on $87,848 invested. Return on cash invested sits at 25.65% in year one, and rental yield is 10.97% on a $265,000 entry. Equity gained on principal adds $1,710/yr, while 5% annual appreciation builds toward $73,215 over five years. Five-year ROI reaches 135.46% and total cumulative return in cash sums $118,995. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,423/mo property income rather than buyer’s personal income.
Condo
Built in 1969
N/A lot
$N/A/sqft
$305 monthly 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 |
|---|---|---|
| 2025-09-02 | Sold | $265,000 |
| 2025-07-30 | Pending sale | $299,000 |
| 2025-07-25 | Price change | $279,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-16 | $3749.75 | 3.04% | $190,980 | 6.09% |
| 2023-10-16 | $3639.20 | 2.88% | $180,020 | N/A |
| 2022-10-16 | $3537.36 | 2.94% | $180,020 | 3.00% |
Listed by: KEVIN RILEY • Vantage Point Brokers, Llc
Mls Name: WVMLS
Mls Provider:
Mls ID: #829885
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.
