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 Market28
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.
(503) 364-9596
Listed By:
ANDREA BEYER · License #900100236
Source:
Thesanchezteamoregon
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 30 at 7:28PM
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.
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 = 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
$28,824
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
4.18%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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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
