506 N Broadway AveSalemIL62881
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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 506 N Broadway Ave, Salem, IL, 62881 with 5% annual appreciation on a $122,000 basis while $971/mo rent supports operations. Total monthly income totals $971/mo and a $597/mo payment preserves $110/mo for cash returns. Annual cash flow comes to $1,316/yr on $40,443 deployed, and return on cash invested reaches 23.16% in year one. Equity gained on principal adds $787/yr, and five-year appreciation sums $33,706 alongside rental yield of 9.55%. Five-year ROI measures 121.47% and total cumulative return in cash totals $49,127.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $971/mo property income versus a $597/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1900
7,500 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62881, Salem, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,931 (100%) |
| Owner Occupied HU | 3,300 (66.9%) |
| Renter Occupied HU | 1,177 (23.9%) |
| Vacant Housing Units | 454 ( 9.2%) |
| Median Home Value | $119,093 |
| Average Home Value | $157,119 |
Housing Distribution
Address Breakdown
Residential
4,702
Single Family
4,462
Multi-Family
240
Businesses
492
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Listed by: SIRETHA A HOWE • Midwest Farm & Land Co. LLC
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #EB458995
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.