55 Summit StSalemMA01970
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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 55 Summit St, Salem, MA, 01970 generates $4,027/mo in rent, after a $3,304/mo payment. Total monthly income is $4,027/mo. Return on cash invested sits at 18.83% in year one, and rental yield is 7.16% on a $675,000 entry. Equity gained on principal adds $4,356/yr, while 5% annual appreciation builds toward $186,490 over five years. Five-year ROI reaches 97.18% and total cumulative return in cash sums $215,823. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,027/mo property income rather than buyer’s personal income.
Single Family
Built in 1966
8,002 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
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Listed by: Demostenes Nunez • Tremont Realty Group, LLC
Mls Name: MLS PIN
Mls ID: #73469141