408 Clara Ct NESalemOR97301
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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
Rental property for sale in Salem at 408 Clara Ct NE, Salem, OR, 97301 offers $3,157/mo rent that, after a $2,154/mo payment, leaves $501/mo cash flow. Total monthly income is $3,157/mo, and annual cash flow is $6,008/yr on $145,858 cash. Return on cash invested measures 24.03% in year one, and rental yield stands at 8.61% at a $439,995 entry. Equity gained on principal adds $2,839/yr while 5% annual appreciation compounds into $121,563 by year five. Five-year ROI records 124.73% and total cumulative return in cash reaches $181,929. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,157/mo property income versus a $2,154/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2024
6,545 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97301, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,878 (100%) |
| Owner Occupied HU | 9,197 (44.1%) |
| Renter Occupied HU | 10,642 (51.0%) |
| Vacant Housing Units | 1,039 ( 5.0%) |
| Median Home Value | $368,479 |
| Average Home Value | $403,096 |
Housing Distribution
Address Breakdown
Residential
20,354
Single Family
18,277
Multi-Family
2,077
Businesses
2,690
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