385 24th 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
Investment property for sale in Salem at 385 24th St NE, Salem, OR, 97301 offers a 11.53% rental yield on a $235,000 purchase with $2,257/mo rent. Total monthly income registers $2,257/mo, and a $1,150/mo payment leaves $839/mo available for distribution. Annual cash flow reaches $10,065/yr on $77,903 to close, and return on cash invested stands at 32.83% in year one. Equity gained on principal adds $1,516/yr while 5% annual appreciation supports $64,926 over five years. Portfolio math shows five-year ROI at 171.93% and total cumulative return in cash at $133,936. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,257/mo property income against a $1,150/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
4,791 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
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