Duplex with Covered
For Sale
$354,750
3027 D St NE, Salem, OR 97301
Multi Family, Salem, OR
Property Size1,558 SF
Lot Size0.09 Acres
Price / SF$227.70
Days on Market266
Property Features for 3027 D St NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Lot features
Lot: 1
View
Territorial
Elementary school
Hoover
Middle school
Parrish
High school
North Salem
Directions
Off of the I-5 and Market St exit, head west on Market St, then turn left (south) on Savage Rd NE, then turn right (west) on D St, and the subject property will be on your right.
Standard status
Active
APN
527217
Size
1,558 SF
Lot size
0.09 Acres
Utilities
Heating system
Electric (Heating)
Amenities
storage shed
shared laundry area
covered front porch
partially fenced yard
Building Details
Year built
1939
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Composition
Listing Agency:
CENTURION REAL ESTATE SERVICES
(503) 883-8141
Listed By:
JESSE BARNES
(541) 760-6505
Added: Jan 13
Changed: Sep 24
Last Checked: Oct 6 at 7:06AM
MLS# 836553
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 two separate 1-bedroom, 1-bathroom residences within 1,558 square feet. Interior updates are present in both units, and the property includes a shared laundry area, one-car carport, and storage shed. A covered front porch, partially fenced yard, wood siding, and composition roof complete the exterior. Windows are primarily thermal-pane vinyl, with some aluminum-framed units.
Built in 1939, the property sits on a 0.0919-acre lot and is zoned RM2. Interior flooring includes carpet and vinyl, with electric heating.
Built in 1939, the property sits on a 0.0919-acre lot and is zoned RM2. Interior flooring includes carpet and vinyl, with electric heating.
Key Highlights
- Two 1‑bedroom/1‑bathroom units
- 1,558 square feet on a 0.0919‑acre lot
- RM2 zoning; built in 1939
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,712
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,240
$374.2K
Cap Rate 7%
$267,314
$267.3K
Cap Rate 9%
$207,911
$207.9K
Market Conditions
NOI Build-Up for 1,558 SF
Gross rent
$28.6K $18.36/SF
− Vacancy
−$1.9K −$1.20/SF
EGI
$26.7K $17.16/SF
− OpEx
−$8.0K −$5.15/SF
NOI
$18.7K $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 Rate 5%
$374,240
Cap Rate 7%
$267,314
Cap Rate 9%
$207,911
Alternative Uses
Best Use
Multifamily LT 5
$267.3K
$233.9K – $311.9K
NOI $18,712 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$246.2K
$215.4K – $287.2K
NOI $17,232 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$413.7K
$362.0K – $482.6K
NOI $28,956 @ 7.0% cap · market cap 8.16%
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
1,058
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
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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 - Two one-bedroom units share laundry, a carport, and a storage shed.
Where is this duplex located?
The property is located at 3027 D St NE Salem, OR.
What is the asking price?
The asking price for this property is $354,750.
What are key features of this property?
This property features: Two 1‑bedroom/1‑bathroom units; 1,558 square feet on a 0.0919‑acre lot; RM2 zoning; built in 1939
