Townhouse-Style Fourplex with New
New
For Sale
$814,900
1725 Salishan St, Salem, OR 97302
Four attached units offer private decks, laundry hookups, and dedicated single-car garages.
Property Size4,336 SF
Price / SF$187.94
Days on Market6
Property Features for 1725 Salishan St
General Information
Standard status
Active
Size
4,336 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Amenities
washer/dryer hookups
private deck
low-maintenance landscaping
Building Details
Year Built
1976
Listing Agency:
HomeSmart Realty Group
(503) 836-2010
Listed By:
Brian Smith · License #201209867
Source:
Rosecityrealtygroup
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 25 at 5:24AM
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 HomeSmart Realty Group
Investment Insights
Based on property information with market context.
This 4,336-square-foot, townhouse-style fourplex was built in 1976 and includes four separately configured residences. Each unit provides two bedrooms, one-and-a-half bathrooms, washer and dryer hookups, a private deck, and an attached single-car garage. The property also includes landscaped grounds and on-site parking. A roof replacement was completed in 2020.
The fourplex is located on Salishan ST in South Salem, near Pringle Creek, with a tree-lined setting. Its unit configuration, individual garages, outdoor space, and laundry connections provide practical features for a residential income property.
The fourplex is located on Salishan ST in South Salem, near Pringle Creek, with a tree-lined setting. Its unit configuration, individual garages, outdoor space, and laundry connections provide practical features for a residential income property.
Key Highlights
- Fourplex containing four townhouse‑style units
- Each residence includes 2 bedrooms and 1.5 bathrooms
- Each unit has a private deck and attached single‑car garage
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
$52,076
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
6.39%
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%
$1,041,520
$1.0M
Cap Rate 7%
$743,943
$743.9K
Cap Rate 9%
$578,622
$578.6K
Market Conditions
NOI Build-Up for 4,336 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
$79.6K $18.36/SF
− Vacancy
−$5.2K −$1.20/SF
EGI
$74.4K $17.16/SF
− OpEx
−$22.3K −$5.15/SF
NOI
$52.1K $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 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%
$1,041,520
Cap Rate 7%
$743,943
Cap Rate 9%
$578,622
Alternative Uses
Best Use
Multifamily LT 5
$743.9K
$651.0K – $867.9K
NOI $52,076 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$685.1K
$599.5K – $799.3K
NOI $47,957 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,587 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
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?
Quadplex - Four attached units offer private decks, laundry hookups, and dedicated single-car garages.
Where is this quadplex located?
The property is located at 1725 Salishan St Salem, OR.
What is the asking price?
The asking price for this property is $814,900.
What are key features of this property?
This property features: Fourplex containing four townhouse‑style units; Each residence includes 2 bedrooms and 1.5 bathrooms; Each unit has a private deck and attached single‑car garage
