62 Perkins St #2SalemMA01970
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 62 Perkins St #2, Salem, MA, 01970 priced at $374,995 pairs $2,975/mo rent with $282/mo cash flow after a $1,835/mo payment. Total monthly income equals $2,975/mo, and annual cash flow comes to $3,383/yr on $124,311 invested. Return on cash invested is 22.63% in year one, and rental yield stands at 9.52% on a $374,995 basis. Equity gained on principal adds $2,420/yr, and 5% annual appreciation accumulates to $103,604 by year five. Five-year ROI measures 118.73% and total cumulative return in cash reaches $147,589. For financing, Ziffy Mortgage’s DSCR program evaluates $2,975/mo property income against a $1,835/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1915
4,935 sqft lot
$N/A/sqft
$330 monthly 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: Candice Pagliarulo Hodgson • Lyv Realty
Mls Name: MLS PIN
Mls ID: #73309606
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.