3720 NE Spring Meadow CtMcMinnvilleOR97128
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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 McMinnville at 3720 NE Spring Meadow Ct, McMinnville, OR, 97128 priced at $499,000 converts $3,173/mo rent into $161/mo cash flow after a $2,442/mo obligation. Total monthly income equals $3,173/mo, and annual cash flow totals $1,936/yr on $165,419 invested. Return on cash invested prints 21.08% in year one, and rental yield reads 7.63% against a $499,000 entry. Equity gained on principal adds $3,220/yr, while 5% annual appreciation compiles into $137,865 by year five. Five-year ROI reaches 108.93% and total cumulative return in cash sums $180,186. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,173/mo property income covering a $2,442/mo payment, not borrower’s personal income.
Single Family
Built in 2006
0.70 Acres lot
$N/A/sqft
No HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 97128, Mcminnville, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,432 (100%) |
| Owner Occupied HU | 9,318 (60.4%) |
| Renter Occupied HU | 5,237 (33.9%) |
| Vacant Housing Units | 877 ( 5.7%) |
| Median Home Value | $475,888 |
| Average Home Value | $526,058 |
Housing Distribution
Address Breakdown
Residential
15,300
Single Family
13,960
Multi-Family
1,340
Businesses
1,475
Price History
Date | Event | Price |
|---|---|---|
| 2024-08-09 | Price change | $499,000 |
| 2024-07-26 | Price change | $504,000 |
| 2024-07-10 | Price change | $514,900 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-10-15 | $3309.10 | 5.56% | $195,776 | 3.00% |
| 2022-10-15 | $3134.80 | 2.42% | $190,074 | 3.00% |
| 2021-10-15 | $3060.64 | 0.80% | $184,538 | 3.00% |
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Facts & Features
General Information
- Type: SingleFamily
- Year Built: 2006
- Architectural Style: N/A
- Building Area: 1,652
- Living Area: 1,652 sqft
- Property Condition: N/A
Features & Amenities
- Heating: Electric, Heat Pump, Forced Air
- Cooling: N/A
- Flooring: Carpet, Laminate, Vinyl
- Interior Features: N/A
- Exterior Features: N/A
- Parking Features: Attached
Location
- City: McMinnville
- State: OR
- Subdivision: Autumn Ridge
- Lot Size: 0.70 Acres
- Lot Features: Cul-De-Sac, Landscaped
- View: Territorial
HOA & Fees
- HOA Fee: N/A
- Association Fee: N/A
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: N/A
- Sewer: Public Sewer
- Water Source: Public
- Road Surface Type: N/A
School Information
- Elementary School: Grandhaven
- Middle School: Patton
- High School: McMinnville
Listed by: COLLEEN BENSON • Keller Williams Capital City Benson Broker Group
Mls Name: WVMLS
Mls Provider:
Mls ID: #817783
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.