379 Belmont St NESalemOR97301
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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 Salem at 379 Belmont St NE, Salem, OR, 97301 priced at $410,000 converts $1,674/mo rent into after a $2,007/mo obligation. Total monthly income equals $1,674/mo. Return on cash invested prints 11.65% in year one, and rental yield reads 4.9% against a $410,000 entry. Equity gained on principal adds $2,646/yr, while 5% annual appreciation compiles into $113,275 by year five. Five-year ROI reaches 58.79% and total cumulative return in cash sums $79,907. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,674/mo property income covering a $2,007/mo payment, not borrower’s personal income.
Townhouse
Built in 2008
3,049 sqft lot
$N/A/sqft
$60 monthly 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
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Listed by: Susan Leatherman • John L. Scott
Mls Name: RMLS (OR)
Mls Provider:
Mls ID: #24360998
Disclaimer: The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by brokerage firms other than Zillow, Inc. are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright 2024 RMLS, Portland, Oregon. This content last updated on 2024-10-18 13:55:42 PDT. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.