Remodeled Duplex with Separate
For Sale
$499,900
2806 Livingston -2808 St NE, Salem, OR 97301
Multi Family, Salem, OR
Property Size2,474 SF
Lot Size0.21 Acres
Price / SF$202.06
Days on Market164
Property Features for 2806 Livingston -2808 St NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Fireplace
1
Subdivision
Davis
Lot features
Dimension Above, Lot: 9
Elementary school
Washington
Middle school
Waldo
High school
North Salem
Directions
North on Park, Right on Livingston
Standard status
Active
APN
570887
Size
2,474 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
3668
Utilities
Heating system
Electric (Heating), Natural Gas, Forced Air
Amenities
yards
Building Details
Number of units
2
Flooring type
Other (refer to remarks), Vinyl
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
BRIAN SMITH
(503) 551-8510
Added: Apr 4
Changed: Sep 13
Last Checked: Sep 14 at 6:06PM
MLS# 839415
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 duplex contains 2,474 square feet on a 0.21-acre corner parcel in Salem. Interior and exterior updates include paint, composition roofing, gutters, doors, selected windows, flooring, kitchen countertops, sinks, and vanities. The property includes electric and natural gas heating with forced-air distribution, along with a fireplace.
The larger residence at 2808 provides a family room, living room, laundry room, storage, bedrooms, and bathrooms. Each unit has its own yard. Site improvements include two driveways, a two-car garage, a four-car carport, and street parking, with space identified for possible RV or boat storage.
The larger residence at 2808 provides a family room, living room, laundry room, storage, bedrooms, and bathrooms. Each unit has its own yard. Site improvements include two driveways, a two-car garage, a four-car carport, and street parking, with space identified for possible RV or boat storage.
Key Highlights
- 2,474 SF duplex on a 0.21‑acre corner lot
- Interior and exterior updates include flooring, paint, roofing, gutters, doors, windows, countertops, sinks, and vanities
- Two driveways, a two‑car garage, four‑car carport, and street parking
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
$29,713
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
5.94%
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%
$594,260
$594.3K
Cap Rate 7%
$424,471
$424.5K
Cap Rate 9%
$330,144
$330.1K
Market Conditions
NOI Build-Up for 2,474 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
$45.4K $18.36/SF
− Vacancy
−$3.0K −$1.20/SF
EGI
$42.4K $17.16/SF
− OpEx
−$12.7K −$5.15/SF
NOI
$29.7K $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%
$594,260
Cap Rate 7%
$424,471
Cap Rate 9%
$330,144
Alternative Uses
Best Use
Multifamily LT 5
$424.5K
$371.4K – $495.2K
NOI $29,713 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$390.9K
$342.0K – $456.1K
NOI $27,363 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$656.9K
$574.8K – $766.4K
NOI $45,981 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
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?
Duplex - Two-unit residential property with refreshed finishes, multiple parking options, and distinct outdoor areas for each residence.
Where is this duplex located?
The property is located at 2806 Livingston -2808 St NE Salem, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,474 SF duplex on a 0.21‑acre corner lot; Interior and exterior updates include flooring, paint, roofing, gutters, doors, windows, countertops, sinks, and vanities; Two driveways, a two‑car garage, four‑car carport, and street parking
