903 Watts StSalemVA24153
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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 903 Watts St, Salem, VA, 24153 generates $2,023/mo in rent and, after a $1,537/mo payment, leaves $146/mo in cash flow. Total monthly income is $2,023/mo, and annual cash flow is $1,750/yr on $104,091 invested. Return on cash invested sits at 21.59% in year one, and rental yield is 7.73% on a $314,000 entry. Equity gained on principal adds $2,026/yr, while 5% annual appreciation builds toward $86,752 over five years. Five-year ROI reaches 111.57% and total cumulative return in cash sums $116,139. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,023/mo property income rather than buyer’s personal income.
Single Family
Built in 1958
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24153, Salem, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 11,469 (68.0%) |
| Renter Occupied HU | 4,141 (24.5%) |
| Vacant Housing Units | 1,264 ( 7.5%) |
| Median Home Value | $317,038 |
| Average Home Value | $367,775 |
Housing Distribution
Address Breakdown
Residential
16,321
Single Family
15,046
Multi-Family
1,275
Businesses
1,603
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Listed by: Neil L Conner • THE GOOD SIGN REAL ESTATE CO.
Mls Name: RVAR
Mls Provider:
Mls ID: #918614
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