601 E Boone StSalemIL62881
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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 601 E Boone St, Salem, IL, 62881 priced at $115,000 pairs $895/mo rent with $97/mo cash flow after a $563/mo payment. Total monthly income equals $895/mo, and annual cash flow comes to $1,166/yr on $38,123 invested. Return on cash invested is 22.97% in year one, and rental yield stands at 9.34% on a $115,000 basis. Equity gained on principal adds $742/yr, and 5% annual appreciation accumulates to $31,772 by year five. Five-year ROI measures 120.33% and total cumulative return in cash reaches $45,873. For financing, Ziffy Mortgage’s DSCR program evaluates $895/mo property income against a $563/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1920
4,800 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: JOSEPH PURDY • Real Broker LLC
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #EB458020
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.