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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Salem at 6743 Devon Ave SE, Salem, OR, 97306 priced at $609,900 converts $3,203/mo rent into after a $2,985/mo obligation. Total monthly income equals $3,203/mo. Return on cash invested prints 17.2% in year one, and rental yield reads 6.3% against a $609,900 entry. Equity gained on principal adds $3,936/yr, while 5% annual appreciation compiles into $168,504 by year five. Five-year ROI reaches 88.08% and total cumulative return in cash sums $176,736. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,203/mo property income covering a $2,985/mo payment, not borrower’s personal income.
Single Family
Built in 2024
5,904 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 97306, Salem, OR area.
| 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 |
Residential
13,956
Single Family
13,531
Multi-Family
425
Businesses
207
Date | Event | Price |
|---|---|---|
| 2024-10-15 | Price change | $609,900 |
| 2024-09-11 | Listed for sale | $640,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
Listed by: SAM LABBE • Coldwell Banker Mountain West Real Estate, Inc.
Mls Name: WVMLS
Mls Provider:
Mls ID: #821328
Disclaimer: Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market.
