Duplex with Three-Car
For Sale
$565,000
2572 Arroyo Ridge - 2574 Ct NW, Salem, OR 97304
Multi Family, Salem, OR
Property Size2,723 SF
Lot Size0.20 Acres
Price / SF$207.49
Days on Market84
Property Features for 2572 Arroyo Ridge - 2574 Ct NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 5
Patio and Porch features
Deck
Fireplace
1
Lot features
Cul-de-sac
Elementary school
Kalapuya
Middle school
Walker
High school
West Salem
Directions
Eola, left on Sunwood to Arroyo Ridge
Standard status
Active
APN
356329
Size
2,723 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6994
Utilities
Heating system
Forced Air, Natural Gas
Amenities
gas fireplace
vaulted ceilings
private deck
low-maintenance landscaping
Building Details
Year built
1993
Number of units
2
Flooring type
Carpet
Roof type
Composition
Listing Agency:
BLUM REAL ESTATE
Listed By:
GLADYS BLUM
(503) 485-1900
Added: Jul 1
Changed: Sep 13
Last Checked: Sep 22 at 10:06PM
MLS# 842922
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.
This 1993 duplex contains 2,723 square feet on a 0.2-acre parcel. The property includes two units, lower-level bedrooms, carpeted flooring, forced-air heat fueled by natural gas, and composition roofing. Interior features include a living room with a gas fireplace and vaulted ceilings, while a private deck extends the usable living area.
An attached three-car garage serves the property, with one garage assigned to 2572 and a two-car garage serving 2574. The site also offers a level driveway and low-maintenance landscaping among mature trees. Located in the West Salem hills within a quiet area characterized by mostly single-family residences.
An attached three-car garage serves the property, with one garage assigned to 2572 and a two-car garage serving 2574. The site also offers a level driveway and low-maintenance landscaping among mature trees. Located in the West Salem hills within a quiet area characterized by mostly single-family residences.
Key Highlights
- 2,723‑square‑foot duplex on a 0.2‑acre parcel
- Built in 1993 with composition roofing
- Attached three‑car garage: one‑car bay at 2572 and two‑car bay at 2574
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
$32,704
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
5.79%
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%
$654,080
$654.1K
Cap Rate 7%
$467,200
$467.2K
Cap Rate 9%
$363,378
$363.4K
Market Conditions
NOI Build-Up for 2,723 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
$50.0K $18.36/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$46.7K $17.16/SF
− OpEx
−$14.0K −$5.15/SF
NOI
$32.7K $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%
$654,080
Cap Rate 7%
$467,200
Cap Rate 9%
$363,378
Alternative Uses
Best Use
Multifamily LT 5
$467.2K
$408.8K – $545.1K
NOI $32,704 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$430.2K
$376.5K – $502.0K
NOI $30,117 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$723.0K
$632.6K – $843.5K
NOI $50,609 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 97304, OR
34,102
Population
14,547
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
56.8 sq mi
ZIP Area
600
Density / Sq Mi
$91,731
Median Household Income
$53,370
Median Earnings
$1,441
Median Rent
$469,500
Median Home Value
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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?
Duplex - Well-maintained two-unit property with separate lower-level bedrooms, a private deck, and natural-gas forced-air heating.
Where is this duplex located?
The property is located at 2572 Arroyo Ridge - 2574 Ct NW Salem, OR.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,723‑square‑foot duplex on a 0.2‑acre parcel; Built in 1993 with composition roofing; Attached three‑car garage: one‑car bay at 2572 and two‑car bay at 2574
