6 Loring Hills Ave UNIT D3SalemMA01970
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 6 Loring Hills Ave UNIT D3, Salem, MA, 01970 priced at $579,000 converts $5,053/mo rent into $1,404/mo cash flow after a $2,834/mo obligation. Total monthly income equals $5,053/mo, and annual cash flow totals $16,843/yr on $190,491 invested. Return on cash invested prints 28.9% in year one, and rental yield reads 10.47% against a $579,000 entry. Equity gained on principal adds $3,736/yr, while 5% annual appreciation compiles into $159,967 by year five. Five-year ROI reaches 151.19% and total cumulative return in cash sums $287,995. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,053/mo property income covering a $2,834/mo payment, not borrower’s personal income.
Townhouse
Built in 1971
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kristin King • Coldwell Banker Realty - Marblehead
Mls Name: MLS PIN
Mls ID: #73416920