Duplex with Attached
For Sale
$799,000
1027-1029 Arthur Way NW, Salem, OR 97304
Two residential units offer four bedrooms, two-and-a-half baths, quartz countertops, and dedicated laundry areas per side.
Property Size3,440 SF
Price / SF$232.27
Days on Market27
Property Features for 1027-1029 Arthur Way NW
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
quartz counters
washer/dryer
attached garage
Building Details
Year Built
2016
Buildings
1
Listing Agency:
COLDWELL BANKER MOUNTAIN WEST REAL ESTATE, INC.
(503) 364-9596
Listed By:
ANDREA BEYER · License #900100236
Source:
Amymcleod
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 30 at 8:13PM
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.
Built in 2016, this duplex contains two residential units, each with 4 bedrooms and 2.5 baths. The 3,440-square-foot property includes an attached garage for each side, quartz countertops, and interior areas designed for washer and dryer installation. Modern finishes and contemporary design details shape both units.
Located at 1027-1029 Arthur Way NW in Salem, Oregon, the property is situated in West Salem. Its two-unit configuration and separately attached garages provide a clear residential income property format with substantial living space on each side.
Located at 1027-1029 Arthur Way NW in Salem, Oregon, the property is situated in West Salem. Its two-unit configuration and separately attached garages provide a clear residential income property format with substantial living space on each side.
Key Highlights
- Two‑unit duplex with 3,440 square feet total
- Each side includes 4 bedrooms and 2.5 baths
- Attached garage provided for each unit
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
$41,315
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
5.17%
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%
$826,300
$826.3K
Cap Rate 7%
$590,214
$590.2K
Cap Rate 9%
$459,056
$459.1K
Market Conditions
NOI Build-Up for 3,440 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
$63.2K $18.36/SF
− Vacancy
−$4.1K −$1.20/SF
EGI
$59.0K $17.16/SF
− OpEx
−$17.7K −$5.15/SF
NOI
$41.3K $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%
$826,300
Cap Rate 7%
$590,214
Cap Rate 9%
$459,056
Alternative Uses
Best Use
Multifamily LT 5
$590.2K
$516.4K – $688.6K
NOI $41,315 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$543.5K
$475.6K – $634.1K
NOI $38,047 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$913.3K
$799.2K – $1.07M
NOI $63,934 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property 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
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 four bedrooms, two-and-a-half baths, quartz countertops, and dedicated laundry areas per side.
Where is this duplex located?
The property is located at 1027-1029 Arthur Way NW Salem, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,440 square feet total; Each side includes 4 bedrooms and 2.5 baths; Attached garage provided for each unit
