Duplex with Updated
For Sale
$689,000
1014-1016 Arthur Way NW, Salem, OR 97304
Two residential units offer spacious layouts, quartz countertops, LVP flooring, and included appliances.
Property Size2,400 SF
Price / SF$287.08
Days on Market76
Property Features for 1014-1016 Arthur Way NW
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Listing Agency:
COLDWELL BANKER MOUNTAIN WEST REAL ESTATE, INC.
Listed By:
ANDREA BEYER · License #900100236
(503) 364-9596
Source:
Thesanchezteamoregon
Added: Aug 4
Changed: Oct 13
Last Checked: Oct 7 at 2:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER MOUNTAIN WEST REAL ESTATE, INC.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex includes two residential units within approximately 2,400 square feet. Both units feature spacious floor plans, quartz countertops, LVP flooring, and recent interior paint. Appliances are included, and the interiors are described as being in excellent condition.
The property is located at 1014-1016 Arthur Way NW in Salem’s West Salem hills, within a quiet residential pocket. Its two-unit configuration and updated interior finishes provide a straightforward residential income property format.
The property is located at 1014-1016 Arthur Way NW in Salem’s West Salem hills, within a quiet residential pocket. Its two-unit configuration and updated interior finishes provide a straightforward residential income property format.
Key Highlights
- Two‑unit duplex totaling 2,400 square feet
- Quartz countertops and LVP flooring in both units
- Recent interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,824
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,480
$576.5K
Cap Rate 7%
$411,771
$411.8K
Cap Rate 9%
$320,267
$320.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$44.1K $18.36/SF
− Vacancy
−$2.9K −$1.20/SF
EGI
$41.2K $17.16/SF
− OpEx
−$12.4K −$5.15/SF
NOI
$28.8K $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%
$576,480
Cap Rate 7%
$411,771
Cap Rate 9%
$320,267
Alternative Uses
Best Use
Multifamily LT 5
$411.8K
$360.3K – $480.4K
NOI $28,824 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$379.2K
$331.8K – $442.4K
NOI $26,545 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$637.2K
$557.6K – $743.4K
NOI $44,605 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 97304, OR
34,102
Population
14,547
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
56.8 sq mi
ZIP Area
600
Density / Sq Mi
$91,731
Median Household Income
$53,370
Median Earnings
$1,441
Median Rent
$469,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer spacious layouts, quartz countertops, LVP flooring, and included appliances.
Where is this duplex located?
The property is located at 1014-1016 Arthur Way NW Salem, OR.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,400 square feet; Quartz countertops and LVP flooring in both units; Recent interior paint
