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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% |
Rental property for sale in Salem at 517 Joseph Ct SE, Salem, OR, 97302 priced at $615,000 converts $3,842/mo rent into $130/mo cash flow after a $3,010/mo obligation. Total monthly income equals $3,842/mo, and annual cash flow totals $1,558/yr on $202,335 invested. Return on cash invested prints 20.83% in year one, and rental yield reads 7.5% against a $615,000 entry. Equity gained on principal adds $3,969/yr, while 5% annual appreciation compiles into $169,913 by year five. Five-year ROI reaches 107.54% and total cumulative return in cash sums $217,601. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,842/mo property income covering a $3,010/mo payment, not borrower’s personal income.
Single Family
Built in 1971
10,585 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 |
|---|---|---|
| 2025-07-23 | Price change | $615,000 |
| 2025-07-07 | Price change | $599,000 |
| 2025-07-03 | Price change | $615,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-09-24 | $3804.55 | 3.03% | $510,140 | 112.17% |
| 2023-09-24 | $3692.80 | -21.84% | $240,440 | N/A |
| 2022-09-24 | $4724.62 | 2.94% | $240,440 | 3.00% |
Listed by: JESSICA FARRELL • Homesmart Realty Group
Mls Name: WVMLS
Mls Provider:
Mls ID: #833795
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.
