1341 Saginaw St S Salem, OR 97317
MULTI_FAMILY - Salem, OR
- Added:
- Mar 23, 2026
- Days on Market:
- 112
- Last Refresh:
- Jul 12 at 4:06 am
Property Features for 1341 Saginaw St S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM2
- Bedrooms
- 12
- Bathrooms
- 6
- Rooms
- Bedroom 4, Bedroom 8, Bathroom 3, Bedroom 10, Bathroom 1, Bedroom 9, Bathroom 2, Bathroom 4, Bedroom 12, Bathroom 5, Bedroom 1, Bathroom 6, Bedroom 7, Bedroom 11, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 3
- Patio and Porch features
- Deck
- Fireplace
- 1
- Standard status
- Active
- APN
- 592091
- Size
- 5,278 SF
- Lot size
- 0.26 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8107
Utilities
- Heating system
- Electric (Heating), Zoned
Building Details
- Year built
- 1964
- Number of units
- 6
- Flooring type
- Wood, Carpet, Laminate
- Roof type
- Tile
Listing agent LAURA GILLOTT License #920300248 (541) 990-7785
Listing office KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM 266 E GRANT ST, Corvallis, OR (541) 738-7770
Listing date Mar 23, 2026
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in South Central Salem, the property is described as having convenient connection to Commercial Street for commuting. Two units are vacant and available for showings only after an accepted offer, with instructions not to contact tenants.
The current configuration and utility setup can support straightforward resident experience, with off-street parking and on-site laundry on-site. With two units undergoing renovation, the property may appeal to buyers looking to complete interior improvements and reposition the tenancy mix within an RM2 zoning framework for residential multifamily use.
Key Highlights
- 2‑bedroom, 1‑bath units with off‑street parking and an on‑site laundry room
- Electric heat with zoned system and separate meters
- New roof and gutters; tile roof
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.0k | $21.60 |
| − Vacancy | −$7.9k | −$1.49 |
| EGI | $106.1k | $20.11 |
| − OpEx | −$47.8k | −$9.05 |
| NOI | $58.4k | $11.06 |
