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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Salem at 405 Madrona Ave SE APT 1, Salem, OR, 97302 with 5% annual appreciation on a $214,900 basis while $1,843/mo rent supports operations. Total monthly income totals $1,843/mo and a $1,052/mo payment preserves $546/mo for cash returns. Annual cash flow comes to $6,548/yr on $71,239 deployed, and return on cash invested reaches 29.1% in year one. Equity gained on principal adds $1,387/yr, and five-year appreciation sums $59,373 alongside rental yield of 10.29%. Five-year ROI measures 151.95% and total cumulative return in cash totals $108,246.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,843/mo property income versus a $1,052/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Condo
Built in 1971
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97302, Salem, OR area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,440 (100%) |
| Owner Occupied HU | 10,373 (56.3%) |
| Renter Occupied HU | 7,247 (39.3%) |
| Vacant Housing Units | 820 ( 4.4%) |
| Median Home Value | $492,171 |
| Average Home Value | $541,750 |
Residential
17,376
Single Family
15,481
Multi-Family
1,895
Businesses
2,021
Date | Event | Price |
|---|---|---|
| 2024-10-16 | Price change | $214,900 |
| 2024-09-28 | Price change | $225,000 |
| 2024-09-11 | Listed for sale | $235,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-10-18 | $1453.76 | 2.87% | $71,920 | N/A |
| 2022-10-18 | $1413.23 | 2.94% | $71,920 | 2.99% |
| 2021-10-18 | $1372.91 | 3.00% | $69,830 | 6.08% |
Listed by: DEVIN THIELE • Sparrow Real Estate, Llc
Mls Name: WVMLS
Mls Provider:
Mls ID: #821341
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.
