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    Salem Duplex on Corner Lot Title is generated by Realmo AI

    836 ELDIN Ave, Salem, OR 97317

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    For Sale
    $440,000

    MULTI_FAMILY - Salem, OR

    Property size:
    2,118 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $207/SF
    Added:
    Feb 17, 2026
    Days on Market:
    93
    Last Refresh:
    May 21 at 11:06 pm

    Property Features for 836 ELDIN Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RS
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
    Standard status
    Active
    APN
    549041
    Size
    2,118 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Description
    HAGERS 2ND ADDITION, BLOCK 3, LOT FR 1, ACRES 0.253
    Tax Annual Amount
    2809

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1948
    Floors in Building
    1
    Number of units
    2
    Roof type
    Composition

    We can help!

    Listing Contact
    Israel Hill
    Israel Hill

    Listing agent Israel Hill License #200903041

    Listing office John L. Scott Portland Central 1205 NE MLK Jr Blvd, Portland, OR

    Listing date Feb 17, 2026

    MLS# 700930404 Listing URL

    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.

    HighLights

    • Assumable loan option at 3.25%
    • Duplex on a quarter acre corner lot
    • Each unit has its own laundry, private yard with storage, and designated address
    • Updates throughout both homes including new quartz counter tops, tile back splash, stainless steel appliances, tiled bathroom, and new interior paint
    • Detached oversized garage plus spacious driveways for ample parking
    • Convenient location near HWY 22 and I‑5 with easy access to amenities, schools, and shopping

    Overview

    This duplex is located on a quarter-acre corner lot in the Four Corners neighborhood. It features two 1-bedroom, 1-bath units, each with its own laundry. There is potential to reconfigure each unit to accommodate a 2nd bedroom, but the buyer needs to verify this with the City. Both homes have their own designated address, private yards with storage, and a fireplace or fireplace stove. Updates throughout both homes include new quartz countertops, tile backsplash, stainless steel appliances, tiled bathrooms, and new interior paint. The property includes a detached oversized garage plus spacious driveways for both homes, providing ample parking. Conveniently located near HWY 22 and I-5, the location offers easy access to amenities, schools, and shopping, while situated on a private road with seasonal views. The property size is 2118 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $282.6K
    NOI $25,438 @ 9.00% cap · cautious / downside scenario
    Moderate
    $363.4K
    NOI $25,438 @ 7.00% cap · market / base-case scenario
    Aggressive
    $508.8K
    NOI $25,438 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $38.9k $18.36
    − Vacancy −$2.5k −$1.20
    EGI $36.3k $17.16
    − OpEx −$10.9k −$5.15
    NOI $25.4k $12.01
    2,118 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $363.4K
    $318.0K – $424.0K (±1% cap)
    NOI $25,438 @ 7.0% cap · market cap 5.78%
    Second Best
    Apartment 5plus
    $334.7K
    $292.8K – $390.4K (±1% cap)
    NOI $23,426 @ 7.0% cap · market cap 5.32%
    Theoretical Best
    Office A
    $562.3K
    $492.1K – $656.1K (±1% cap)
    NOI $39,364 @ 7.0% cap · market cap 8.95%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.975385
    Latitude
    44.919004

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    FAQs

    What type of property is this?
    Duplex - Duplex with assumable loan option in Four Corners neighborhood.
    Where is this duplex located?
    The property is located at 836 ELDIN Ave Salem, OR.
    What is the asking price?
    The asking price for this property is $440,000.
    What are key features of this property?
    This property features: Assumable loan option at 3.25%; Duplex on a quarter acre corner lot; Each unit has its own laundry, private yard with storage, and designated address
    (503) 888-1037
    We can help!
    Listing Contact
    Israel Hill
    Israel Hill
    Real Estate License ID: 200903041
    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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