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Listed by MELINA TOMSON • TOMSON BURNHAM, LLC • Direc: 503-428-3239

$518,000

Est. payment - /mo

4 Beds

2.5 Baths

2,474 SqFt

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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,474 sqft

Price per Sqft $209

Subdivision Davis

MLS Listing ID 828137

Bedrooms 4

Year Built 1952

Annual Tax Amount $3,668

Lot Size 9,147 Sqft

Acres 0.21

Property Sub-Type Duplex

Property Description

Solid investment duplex in a strong rental market! This well-maintained property features two separately metered units: a spacious 3-bedroom unit estimated to rent for $2,400/month, and a cozy 1-bedroom unit projected at $1,200/month. Current market rents generate a combined $44,400 in annual gross income with tenants covering all utilities except water/sewer. Refer to WVMLS #827762 With a projected cap rate over 5% and cash-on-cash returns approaching 6% by year two (including rent growth and tax benefits), this property offers investors a balanced blend of immediate cash flow and long-term equity growth.Recent upgrades and reliable tenant demand help minimize vacancy, currently averaging just 1% in this area. Located near key commuter routes and local amenities, this is an ideal addition to any rental portfolio—or a perfect opportunity for owner-occupancy with rental income offsetting your mortgage.

Location

State OR

County Marion

Area 20 Central Salem

Rooms

Other Rooms Office

Dining Room Area (Combination)

Interior

Hot Water Gas

Heating Gas, Forced Air

Flooring Vinyl

Fireplaces Type Living Room, Wood

Laundry W/D Hookup

Exterior

Fence Yes

Roof Type Composition

Building

Foundation Continuous

Sewer City

Water City

New Construction No

Schools

Elementary Schools Washington

Middle Schools Waldo

High Schools North Salem

Others

Acceptable Financing FHA, Federal VA, Cash, ODVA, Conventional

Listing Terms FHA, Federal VA, Cash, ODVA, Conventional

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Garett & Claire Chadney

+1(503) 970-0858

Principal Broker / Owner | License ID: 930300059

Principal Broker / Owner License ID: 930300059

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2806 Livingston (-2808) St NE NE Salem, OR 97301