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    Tax Lot 1503 Elm St Vale, OR 97918

    View on Map
    New
    For Sale
    $170,000

    LAND - Vale, OR

    Lot size:
    0.14 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 7 at 3:06 pm

    Property Features for Tax Lot 1503 Elm St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    Tax Lot 1503 Map#18S4519DC
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Tax Lot 1503 Map#18S4519DC
    Tax Annual Amount
    723

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Marty Justus

    Listing agent Marty Justus License #201104009

    Listing office Four Star Real Estate 241 SW 3rd Avenue, Ontario, OR

    Listing date Apr 6, 2026

    MLS# 98980864

    Copyright © 2026 Intermountain 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

    Vale, OR Land Opportunity

    This 0.14-acre lot in Vale, OR, is approved for manufactured homes on a foundation. The property includes a cinder block storage shed that could be converted into an Auxiliary Dwelling Unit (ADU). Utilities are available to the lot line. The seller will provide plans and cost estimates to potential buyers for the ADU conversion, though final approval from the City of Vale has not been granted. The list price includes approximately $40,000 to complete the project. The seller has estimates for manufactured homes ranging from below $60,000 to below $125,000. Documents are available for review.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Vale
    County
    Malheur
    State
    Oregon
    Longitude
    -117.2526543
    Latitude
    43.9840462

    Nearby Similar for Sale

    • $29,900

      Residential Lot Near Vale School

      Level, fenced lot ready for new home construction.
      W E St, Vale, OR 97918
      View Details
    • $65,000

      Residential Lot with Storage Shed

      Residential lot with storage shed and ADU plans.
      Tax Lot 1503 Elm St, Vale, OR 97918
      View Details
    • $63,000

      Vale, OR Land For Sale

      Land in new subdivision with utilities available for new construction.
      990 Campbell St, Vale, OR 97918
      View Details
    • $2,400,000
      3,020 SF

      Vale, Oregon Ranch Property

      559-acre ranch with house, shop, and equestrian facilities.
      1270 Hillcrest Dr., Vale, OR 97918
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land approved for manufactured homes with ADU potential.
    Where is this residential land & home lot located?
    The property is located at Tax Lot 1503 Elm St Vale, OR.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: Lot approved for manufactured homes on a foundation.; Utilities available to the lot line.; Opportunity to add a manufactured home and convert a storage shed into an ADU.
    (541) 709-7744
    We can help!
    Listing Contact
    Marty Justus
    Real Estate License ID: 201104009
    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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