4298 River Rd S, Salem, OR, 97302 | 5.99% Rental Yield

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4298 River Rd S, Salem, OR, 97302 | 5.99% Rental Yield | Ziffy

For Sale

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

Rental property for sale in Salem at 4298 River Rd S, Salem, OR, 97302 priced at $699,900 pairs $3,496/mo rent with after a $3,426/mo payment. Total monthly income equals $3,496/mo. Return on cash invested is 16.26% in year one, and rental yield stands at 5.99% on a $699,900 basis. Equity gained on principal adds $4,516/yr, and 5% annual appreciation accumulates to $193,369 by year five. Five-year ROI measures 83.04% and total cumulative return in cash reaches $191,204. For financing, Ziffy Mortgage’s DSCR program evaluates $3,496/mo property income against a $3,426/mo payment instead of your W2s, 1099s, or Tax returns.

Single Family

Built in 1973

1.95 Acres lot

$N/A/sqft

No HOA

More details about the property

Tucked away on nearly 2 acres in the treetops of Salem, this 1973 Frank Lloyd Wright-inspired prairie gem is where architectural charm meets modern flair. With 3 bedrooms, 2 baths and a nice flexible space that makes a perfect office or family room, this home is a hidden haven minutes from Illahe Golf & Country Club. Meander up the private drive and discover sweeping eaves, low-slung lines, and walls that whisper mid-century secrets. Inside you'll find new 2024 vinyl plank floors that lay the foundation for your next chapter, while the brand-new stainless steel oven and dishwasher gleam. Sunlight beams through generous windows, spotlighting the cozy, grounded elegance only a Wright-style home can deliver. Upon entering you are greeted by the stunning living room with a swanky fireplace at the center. Whether youre sipping coffee on the deck or plotting your short game over breakfast, this secluded sanctuary offers peace, privacy, and personality in equal measure. Come for the architecture, stay for the serenity youve found your hideaway.

Neighborhood Data

Neighborhood data shown for ZIP Code: 97302, Salem, OR area.

Housing Distribution

Housing Statistics

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