3890 Lancaster Dr NESalemOR97305
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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 3890 Lancaster Dr NE, Salem, OR, 97305 offers $2,192/mo rent that, after a $4,650/mo payment. Total monthly income is $2,192/mo. Return on cash invested measures 6.46% in year one, and rental yield stands at 2.77% at a $950,000 entry. Equity gained on principal adds $6,130/yr while 5% annual appreciation compounds into $262,467 by year five. Five-year ROI records 30.48% and total cumulative return in cash reaches $95,270. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,192/mo property income versus a $4,650/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1949
0.91 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97305, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,206 (100%) |
| Owner Occupied HU | 8,699 (53.7%) |
| Renter Occupied HU | 7,030 (43.4%) |
| Vacant Housing Units | 477 ( 2.9%) |
| Median Home Value | $391,262 |
| Average Home Value | $416,883 |
Housing Distribution
Address Breakdown
Residential
15,796
Single Family
14,699
Multi-Family
1,097
Businesses
798
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Nearby investment properties with comparable prices
Listed by: ZOE THOMAS • Keller Williams Realty Mid Willamette
Mls Name: WVMLS
Mls Provider:
Mls ID: #821769
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.