39 1/2 Harbor St UNIT 1SalemMA01970
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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 39 1/2 Harbor St UNIT 1, Salem, MA, 01970 offers a 11.23% rental yield on a $369,900 purchase with $3,462/mo rent. Total monthly income registers $3,462/mo, and a $1,810/mo payment leaves $1,131/mo available for distribution. Annual cash flow reaches $13,573/yr on $122,622 to close, and return on cash invested stands at 30.98% in year one. Equity gained on principal adds $2,387/yr while 5% annual appreciation supports $102,197 over five years. Portfolio math shows five-year ROI at 162.38% and total cumulative return in cash at $199,114. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,462/mo property income against a $1,810/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1920
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
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Listed by: Lisa Sullivan • J. Barrett & Company
Mls Name: MLS PIN
Mls ID: #73454397