Four-Unit Townhouse
For Sale
$799,900
1725-1731 Salishan St SE, Salem, OR 97302
Multi Family, Salem, OR
Property Size4,336 SF
Lot Size0.29 Acres
Price / SF$184.48
Days on Market53
Property Features for 1725-1731 Salishan St SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 8, Bathroom 4, Bathroom 6, Bedroom 7, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 6, Bedroom 4
Patio and Porch features
Deck
Subdivision
Laguna Village South II S
Lot features
Dimension Above, Lot: 9
View
Water
Elementary school
Morningside
Middle school
Leslie
High school
South Salem
Directions
S on Pringle, Right on Salishan
Standard status
Active
APN
580382
Size
4,336 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
6982
Utilities
Heating system
Electric (Heating), Ductless (Heating), Wall Furnace
Water front
1
Amenities
washer/dryer hookups
private deck
low-maintenance landscaping
Building Details
Year built
1976
Number of units
4
Flooring type
Vinyl, Carpet
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
BRIAN SMITH
(503) 551-8510
Added: Jul 24
Changed: Sep 13
Last Checked: Sep 14 at 8:06PM
MLS# 843873
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 at 1725-1731 Salishan St SE, this 4336-square-foot quadplex occupies 0.29 acres and contains four townhouse-style residences. Each unit includes two bedrooms, 1.5 bathrooms, washer/dryer hookups, a private deck, and an attached single-car garage. Interior finishes include vinyl and carpet flooring, while heating is provided by electric systems, wall furnaces, and ductless equipment. The property was built in 1976 and received a new composition roof in 2020.
The property is in South Salem near Pringle Creek and includes low-maintenance landscaping and ample parking. It carries RM2 zoning and has a low-vacancy rental history. Two units are currently leased below market rent.
The property is in South Salem near Pringle Creek and includes low-maintenance landscaping and ample parking. It carries RM2 zoning and has a low-vacancy rental history. Two units are currently leased below market rent.
Key Highlights
- Four‑unit property totaling 4336 square feet on 0.29 acres
- Each residence has 2 bedrooms and 1.5 bathrooms
- Private deck and attached single‑car garage for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,076
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,041,520
$1.0M
Cap Rate 7%
$743,943
$743.9K
Cap Rate 9%
$578,622
$578.6K
Market Conditions
NOI Build-Up for 4,336 SF
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.
Gross rent
$79.6K $18.36/SF
− Vacancy
−$5.2K −$1.20/SF
EGI
$74.4K $17.16/SF
− OpEx
−$22.3K −$5.15/SF
NOI
$52.1K $12.01/SF
Area
Salem, OR
Vacancy
6.55%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,041,520
Cap Rate 7%
$743,943
Cap Rate 9%
$578,622
Alternative Uses
Best Use
Multifamily LT 5
$743.9K
$651.0K – $867.9K
NOI $52,076 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$685.1K
$599.5K – $799.3K
NOI $47,957 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,587 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence combines two bedrooms, one-and-a-half baths, laundry hookups, a deck, and an attached garage.
Where is this quadplex located?
The property is located at 1725-1731 Salishan St SE Salem, OR.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four‑unit property totaling 4336 square feet on 0.29 acres; Each residence has 2 bedrooms and 1.5 bathrooms; Private deck and attached single‑car garage for every unit
