6353 Fairway Ave SESalemOR97306
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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
Investment property for sale in Salem at 6353 Fairway Ave SE, Salem, OR, 97306 uses $94,444 cash to close to unlock $2,649/yr annual cash flow and $221/mo monthly cash flow. Total monthly income runs $1,940/mo, and a $1,394/mo payment keeps the spread at $221/mo. Purchase price stands at $284,900, and rental yield measures 8.17% with $1,940/mo rent. Return on cash invested shows 22.71% in year one, and 5% annual appreciation builds toward $78,713 over five years. Five-year ROI reaches 117.68% and total cumulative return in cash records $111,143. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,940/mo property income covering a $1,394/mo payment rather than investor’s personal income.
Condo
Built in 1979
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97306, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,384 (100%) |
| Owner Occupied HU | 8,940 (66.8%) |
| Renter Occupied HU | 3,980 (29.7%) |
| Vacant Housing Units | 464 ( 3.5%) |
| Median Home Value | $505,414 |
| Average Home Value | $554,238 |
Housing Distribution
Address Breakdown
Residential
13,956
Single Family
13,531
Multi-Family
425
Businesses
207
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