6-Unit Multifamily
For Sale
$789,900
1207 D ST, Salem, OR 97301
Updated flooring, appliances, and paint enhance several recently refreshed units.
Property Size3,936 SF
Days on Market8
Property Features for 1207 D ST
General Information
Standard status
Active
Size
3,936 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$4,818
Building Details
Building Size
3,936 SF
Year Built
1962
Listing Agency:
Epique Realty
(503) 476-1020
Listed By:
Benjamin Nelson · License #200212150
(503) 476-1020
Source:
Harcourtselite
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 6:43AM
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 Epique Realty
Investment Insights
Based on property information with market context.
Built in 1962, this six-unit multifamily property is fully occupied and includes several residences that have received updated flooring, appliances, and interior paint. The property is positioned for continued operations with documented financial records available.
The building is located at 1207 D St in Salem’s Northeast Neighbors district, directly across from Parrish Middle School and North Salem High School. Oregon State Capitol, Willamette University, Salem Hospital, and Oregon State Hospital are each within one mile, providing proximity to established educational, governmental, healthcare, and institutional destinations.
The building is located at 1207 D St in Salem’s Northeast Neighbors district, directly across from Parrish Middle School and North Salem High School. Oregon State Capitol, Willamette University, Salem Hospital, and Oregon State Hospital are each within one mile, providing proximity to established educational, governmental, healthcare, and institutional destinations.
Key Highlights
- Six‑unit multifamily property built in 1962
- 100% occupied
- Several units refreshed with new flooring, appliances, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,533
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$870,660
$870.7K
Cap Rate 7%
$621,900
$621.9K
Cap Rate 9%
$483,700
$483.7K
Market Conditions
NOI Build-Up for 3,936 SF
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.
Gross rent
$85.0K $21.60/SF
− Vacancy
−$5.9K −$1.49/SF
EGI
$79.2K $20.11/SF
− OpEx
−$35.6K −$9.05/SF
NOI
$43.5K $11.06/SF
Area
Salem, OR
Vacancy
6.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$870,660
Cap Rate 7%
$621,900
Cap Rate 9%
$483,700
Alternative Uses
Best Use
Apartment 5plus
$621.9K
$544.2K – $725.6K
NOI $43,533 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$914.4K – $1.22M
NOI $73,153 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated flooring, appliances, and paint enhance several recently refreshed units.
Where is this apartment building located?
The property is located at 1207 D ST Salem, OR.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Six‑unit multifamily property built in 1962; 100% occupied; Several units refreshed with new flooring, appliances, and paint
