3948 Witter Ln NESalemOR97305
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 3948 Witter Ln NE, Salem, OR, 97305 uses $112,677 cash to close to unlock $3,047/yr annual cash flow and $254/mo monthly cash flow. Total monthly income runs $2,416/mo, and a $1,664/mo payment keeps the spread at $254/mo. Purchase price stands at $339,900, and rental yield measures 8.53% with $2,416/mo rent. Return on cash invested shows 22.61% in year one, and 5% annual appreciation builds toward $93,908 over five years. Five-year ROI reaches 117.56% and total cumulative return in cash records $132,467. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,416/mo property income covering a $1,664/mo payment rather than investor’s personal income.
Manufactured
Built in 2000
3,920 sqft lot
$N/A/sqft
$110 monthly 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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Listed by: ROXANNA HOWELL • Exp Realty, Llc
Mls Name: WVMLS
Mls Provider:
Mls ID: #829453
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.