4888 38th Pl NESalemOR97305
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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 4888 38th Pl NE, Salem, OR, 97305 offers a 7.01% rental yield on a $409,000 purchase with $2,390/mo rent. 21% in year one. Equity gained on principal adds $2,639/yr while 5% annual appreciation supports $112,999 over five years. Portfolio math shows five-year ROI at 98.93% and total cumulative return in cash at $134,133. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,390/mo property income against a $2,002/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1960
9,148 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97305, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,206 (100%) |
| Owner Occupied HU | 8,699 (53.7%) |
| Renter Occupied HU | 7,030 (43.4%) |
| Vacant Housing Units | 477 ( 2.9%) |
| Median Home Value | $391,262 |
| Average Home Value | $416,883 |
Housing Distribution
Address Breakdown
Residential
15,796
Single Family
14,699
Multi-Family
1,097
Businesses
798
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