402 Goodwin AveSalemVA24153
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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 402 Goodwin Ave, Salem, VA, 24153 listed at $229,950 pairs $1,585/mo rent with a $1,125/mo payment to leave $211/mo cash flow. Total monthly income runs $1,585/mo, and annual cash flow reaches $2,531/yr on $76,228 cash to close. Return on cash invested measures 23.23% in year one, and rental yield registers 8.27% at a $229,950 basis. Equity gained on principal adds $1,484/yr, and annual property appreciation at 5% supports $63,531 by year five. Five-year ROI tracks 120.35% and total cumulative return in cash totals $91,743. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,585/mo property income relative to a $1,125/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1945
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24153, Salem, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 11,469 (68.0%) |
| Renter Occupied HU | 4,141 (24.5%) |
| Vacant Housing Units | 1,264 ( 7.5%) |
| Median Home Value | $317,038 |
| Average Home Value | $367,775 |
Housing Distribution
Address Breakdown
Residential
16,321
Single Family
15,046
Multi-Family
1,275
Businesses
1,603
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