400 Bluffs Ct #22, Gleneden Beach, OR, 97388 | 7.65% Rental Yield

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400 Bluffs Ct #22, Gleneden Beach, OR, 97388 | 7.65% Rental Yield | Ziffy

For Sale

Fix & Flip

Rental Income

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Gleneden Beach at 400 Bluffs Ct #22, Gleneden Beach, OR, 97388 earns from $3,180/mo rent with a $2,442/mo payment. Total monthly income totals $3,180/mo. ROI tracks 16.5% on current figures, and rental yield reads 7.65% at a $499,000 purchase. Equity gained on principal adds $3,220/yr, and 5% annual appreciation supports $137,865 over five years. Five-year ROI reaches 86.05% and total cumulative return in cash sums $142,350. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,180/mo property income instead of your personal income.

Condo

Built in 1978

N/A lot

$N/A/sqft

$638 monthly HOA

More details about the property

IT'S ALL ABOUT THE VIEW! Spectacular white-water views and view onto Siletz Bay and Salishan Golf Links. The Bluffs condominiums are located in a gate-guarded community within Salishan Hills, and easy walking distance to the beach and Salishan Resort Lodge. Situated well above the tsunami zone, and just minutes to shopping and services in Lincoln City. Unit gutted and remodeled in 2022. Remodel included: new kitchen cabinets, quartz counters, sink and fixtures; new kitchen appliances; new luxury vinyl flooring throughout; newly-tiled showers, new commodes, vanities and fixtures; new closet doors; new window coverings, ceiling fans and furniture. Stacked washer & dryer. Freshly painted throughout. Owner occupied, and only during the summer months. Sleeping accommodations for up to 6. Main floor bedroom with ensuite bathroom; second bedroom and bath upstairs. Carport for 1 vehicle with storage closet; guest parking on street. Very quiet and safe complex with 32 units total, of which 5 are full-time occupied. No short-term rentals; 90 day occupancy minimum. No muss, no fuss...ready to move in. While the pictures don't entirely capture the grandeur, the views will sell this unique slice of Oregon coast. Offered as-is, turn-key. Call for viewing appointment.

Neighborhood Data

Neighborhood data shown for ZIP Code: 97388, Gleneden Beach, OR area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	817 (100%)
Owner Occupied HU	282 (34.5%)
Renter Occupied HU	62 ( 7.6%)
Vacant Housing Units	473 (57.9%)
Median Home Value	$521,084
Average Home Value	$550,603