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    315 S 1st & 301 Drake St St Silverton, OR 97381

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    Claim this Listing
    For Sale
    $775,000

    Duplex - Silverton, OR

    Type:Duplex
    Property size:
    3,215 SF
    Lot size:
    0.17 Acres
    Added:
    Feb 27, 2026
    Days on Market:
    44
    Last Refresh:
    Apr 12 at 12:06 am

    Property Features for 315 S 1st & 301 Drake St St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room
    Interior features
    Handicap Amenities
    Exterior features
    Partially Fenced Yard, Landscaping
    Fencing
    Fenced, Partial
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Washer
    Standard status
    Active
    APN
    102056
    Size
    3,215 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6390

    Utilities

    Heating system
    Central, Electric (Heating), Forced Air, Heat Pump (Heating)
    Cooling system
    Central Air, Heat Pump

    Building Details

    Year built
    2022
    Number of units
    3
    Flooring type
    Carpet, Laminate
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    CHRIS FORRETTE

    Listing agent CHRIS FORRETTE

    Listing office HOMESMART REALTY GROUP 3240 COMMERCIAL ST SE, Salem, OR

    Listing date Feb 27, 2026

    MLS# 837939 Listing URL

    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.

    Overview

    Silverton Duplex with Strong Income

    This fully leased townhome-style duplex is located in Silverton. Constructed in 2022, the property features durable vinyl plank flooring, electric heat pumps with forced air, and modern layouts. The low-maintenance construction contributes to its appeal. Each unit includes 3 bedrooms, 2.5 baths, and a 1-car garage. The property has a strong rental history with a total gross scheduled income of $52,800 annually. The lot size is 0.17 acres and the property size is 3215 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Silverton
    County
    Marion
    State
    Oregon
    Longitude
    -122.676
    Latitude
    44.9381

    Nearby Similar for Sale

    • $900,000
      4,012 SF

      Silverton Church Property on 1.5+ Acres

      Well-maintained church property with ample parking and excellent visibility.
      1726 Pine, Silverton, OR 97381
      View Details
    • $775,000
      3,215 SF

      Silverton Townhome-Style Duplex For Sale

      Fully leased, new construction duplex in desirable Silverton location.
      301 S 1st St., Silverton, OR 97381
      View Details
    • $349,000
      1,331 SF

      Remodeled Commercial Building with Parking

      Remodeled vintage building suitable for commercial or residential use.
      612 N 1ST, Silverton, OR 97381
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully leased, townhome-style duplex built in 2022 with strong rental history.
    Where is this duplex located?
    The property is located at 315 S 1st & 301 Drake St St Silverton, OR.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Fully leased duplex generating $52,800 annual gross income.; Built in 2022, offering a 'like new' feel and modern construction.; Each unit features **3 bedrooms and 2.5 baths with a 1‑car garage.**
    (503) 409-3542
    We can help!
    Listing Contact
    CHRIS FORRETTE
    Real Estate License ID: 990400134
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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