$585,000 Price Analysis    ♡   Salem, OR 97301 3 bed 4 bath 2,149 SqFt ($272/SqFt) 7,405SqFt lot. Built 1956 Listed 2024-05-29, Taxes $2,821 | Ⓧ USDA Ineligible due to location near Salem |
6.5 Cap Rate without management.
Master Tenant leases all four renovated units. Older architecturally attractive home converted to apartments many years ago. Near Salem Hospital, Willamette University, Capitol buildings, downtown. Over $50, 000 in recent upgrades. Property consists of two legal parcels now being consolidated into one to make the structure conforming.
Expected completion date of August 1. 500-year flood plain. County build date f 1956 is not guaranteed by Seller. Building looks closer to early 1900's. Laundry is managed by Coin Meter and is available to all tenants. Professionally managed. Shown with accepted offer.
Presented by Kenneth Marshall at
Vintage Realty Northwest.
Property MLS #817406 from Willamette
Full Bathrooms: 4
Flooring: Carpet, Laminate, Vinyl
Fencing: Partial
Lot Size Dimensions: 46 x 159
Lot Size Square Feet: 7405
High School: South Salem
Middle School: Leslie
Map directions Map directions Map directions Map directionsBedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-4: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Unit-1 Square Feet: 897
Unit-2 Square Feet: 483
Unit-3 Square Feet: 270
Unit-4 Square Feet: 464
Unit 1 Total Actual Rent: 1270
Unit 2 Total Actual Rent: 1285
Unit 3 Total Actual Rent: 915
Unit 4 Total Actual Rent: 1070
Miscellaneous: 2149
Annual Tax Amount: 3082
Source Listing Status: ACTIVE
County: Marion
Cross Street: Ferry St. SE
Current Use: Investment
Cap Rate: 5.95
Directions: State St. to 14th; turn south and go one block. Property is at NE corner of State and Ferry St.
Source Property Type: Multi Family
Home Warranty: No
Insurance Expense: 2499
Area: 20 CENTRAL SALEM
Source Neighborhood: 20 CENTRAL SALEM
Parcel Number: 595171, 595172
Flood Plain: Yes
Property Subtype: 4-Plex
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $148,010 | $2,821 |
| 2021 | $unknown + $unknown $143,700 | $2,740 |
| 2020 | $unknown + $unknown $139,520 | $2,660 |
| 2019 | $unknown + $unknown $135,460 | $2,567 |
| 2018 | $unknown + $unknown $131,520 | $2,612 |
| 2017 | $unknown + $unknown $127,690 | $2,358 |
| 2016 | $unknown + $unknown $123,980 | $2,246 |
| 2015 | $unknown + $unknown $120,370 | $2,263 |
| 2014 | $unknown + $unknown $116,870 | $2,190 |
| 2013 | $unknown + $unknown $113,470 | $2,145 |
| 2012 | $unknown + $unknown $110,170 | $2,028 |
| 2011 | $unknown + $unknown $106,970 | $2,003 |
| 2010 | $unknown + $unknown $103,860 | $1,921 |
| 2009 | $unknown + $unknown $100,840 | $1,793 |
| 2008 | $unknown + $unknown $97,910 | $1,793 |
| 2007 | $unknown + $unknown $95,060 | $1,736 |
$585,000
RMLS
Price Changed 2024-06-26
$585,000
Willamette
Listed 2024-05-29
$595,000
Willamette
Listed 2024-05-28
$595,000
RMLS
Listing removed 2024-03-28
$559,000
RMLS
Listing removed 2023-03-16
$0
Willamette
Price Changed 2023-01-19
$559,000
Willamette
Listed 2022-12-22
$599,000
Willamette
Listing removed 2019-12-24
$0
Willamette
Sold 2019-12-13
$307,500
Public Record
Price Changed 2019-05-17
$310,000
Willamette
Listed 2018-11-21
$320,000
Willamette
Sold 2007-02-20
$222,000
Public Record
Operating Expense: 17948
Year Built: 1956
Building Exterior Type: Siding Style: Lap
Building Features: Shed
Foundation Details: Continuous
Living Area Source: County
Property Age: 68
Roof: Composition
Sewer: Sewer: City, Water Sewer: 1798
Water Source: City
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  | |||
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.