575 23rd St NE, Salem, OR, 97301 | $794/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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575 23rd St NE, Salem, OR, 97301 | $794/mo Cash Flow | Ziffy

For Sale

Listed for sale 1 day ago

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

Investment property for sale in Salem at 575 23rd St NE, Salem, OR, 97301 offers a 10.71% rental yield on a $275,000 purchase with $2,454/mo rent. Total monthly income registers $2,454/mo, and a $1,346/mo payment leaves $794/mo available for distribution. Annual cash flow reaches $9,528/yr on $91,163 to close, and return on cash invested stands at 30.36% in year one. Equity gained on principal adds $1,775/yr while 5% annual appreciation supports $75,977 over five years. Portfolio math shows five-year ROI at 158.75% and total cumulative return in cash at $144,719. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,454/mo property income against a $1,346/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1952

4,750 sqft lot

$N/A/sqft

No HOA

More details about the property

Centrally located and on city bus line. Cozy fireplace in the living room formal dining room. Primary bedroom has sitting area with access to the rear partially enclosed covered deck. Two bedrooms with a den. Tankless water heater. Free standing refrigerator. Storage area in attic area. Great rehab project for the right person. Rehab, Cash, Conventional, or Hard Money.

Neighborhood Data

Neighborhood data shown for ZIP Code: 97301, Salem, OR area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	20,878 (100%)
Owner Occupied HU	9,197 (44.1%)
Renter Occupied HU	10,642 (51.0%)
Vacant Housing Units	1,039 ( 5.0%)
Median Home Value	$368,479
Average Home Value	$403,096