Duplex Cottages with Full
802 NE COTTAGE St Salem, OR 97301
For Sale
$375,900
MULTI_FAMILY - Salem, OR
Property Size1,230 SF
Lot Size0.37 Acres
Price / SF$305.61
Days on Market14
Property Features for 802 NE COTTAGE St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM2
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1
- Standard status
- Active
- APN
- 566857
- Size
- 1,230 SF
- Lot size
- 0.37 Acres
Taxes and HOA fees
- Tax Description
- BOISES SECOND ADD SALEM FR LOTS 8 & 9 BLK 9
- Tax Annual Amount
- 3697
Utilities
- Heating system
- Forced Air
- Water front features
- Creek
- Water front
- 1
Building Details
- Year built
- 1925
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Composition
Listing Agency:
BST Realty LLC
(971) 900-4050
Listed By:
Jackie Zurbrugg
(503) 932-5833
Added: Jul 10
Changed: Jul 11
Last Checked: Jul 23 at 1:06PM
MLS# 255125545
Copyright © 2026 Regional Multiple Listing Services. 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 for-sale duplex property features two separate cottages, each with its own full basement. The layout provides additional lower-level space that can be used for storage or other flexible arrangements. The property is offered with a total size of 1,230 square feet on a 0.37-acre lot.
Located at 802 NE Cottage St in Salem, Oregon (97301), the property is listed under zoning RM2. Public remarks note the homes are on the banks of Mill Creek.
Located at 802 NE Cottage St in Salem, Oregon (97301), the property is listed under zoning RM2. Public remarks note the homes are on the banks of Mill Creek.
Key Highlights
- Property includes two cottages on the banks of Mill Creek.
- Each cottage has a full basement for storage or flex space.
- Forced air heating.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.6k | $18.36 |
| − Vacancy | −$1.5k | −$1.20 |
| EGI | $21.1k | $17.16 |
| − OpEx | −$6.3k | −$5.15 |
| NOI | $14.8k | $12.01 |
1,230 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$211.0K
$184.7K – $246.2K
NOI $14,773 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$194.3K
$170.1K – $226.7K
NOI $13,604 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$326.6K
$285.8K – $381.0K
NOI $22,860 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex cottages in Salem, Oregon, each with a full basement for storage or flexible use.
Where is this duplex located?
The property is located at 802 NE COTTAGE St Salem, OR.
What is the asking price?
The asking price for this property is $375,900.
What are key features of this property?
This property features: Property includes two cottages on the banks of Mill Creek.; Each cottage has a full basement for storage or flex space.; Forced air heating.
