Two-Unit Duplex with
New
For Sale
$450,000
3441 Livingston St, Salem, OR 97301
Both residences include private outdoor space and access to nearby schools, shopping, and commuter routes.
Property Size2,000 SF
Price / SF$225
Days on Market4
Property Features for 3441 Livingston St
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Amenities
private backyard
Building Details
Year Built
1955
Listing Agency:
eXp Realty, LLC
Listed By:
Shawn Richardson · License #201210661
(503) 908-4908
Source:
Rosecityrealtygroup
Added: Sep 15
Last Checked: Sep 16 at 11:44PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 2000-square-foot property built in 1955. Each unit includes 2 bedrooms, 1 bathroom, and an attached 1-car garage. Private backyards serve each residence, adding separate outdoor space for occupants.
The property is located at 3441 Livingston St in Salem, Oregon, near schools, shopping, and major commuter routes. The two-unit configuration, separate garages, and individual backyards provide a clearly defined residential setup for the property.
The property is located at 3441 Livingston St in Salem, Oregon, near schools, shopping, and major commuter routes. The two-unit configuration, separate garages, and individual backyards provide a clearly defined residential setup for the property.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- Attached 1‑car garage for each unit
- Private backyard assigned to each residence
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
$24,020
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
5.34%
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%
$480,400
$480.4K
Cap Rate 7%
$343,143
$343.1K
Cap Rate 9%
$266,889
$266.9K
Market Conditions
NOI Build-Up for 2,000 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
$36.7K $18.36/SF
− Vacancy
−$2.4K −$1.20/SF
EGI
$34.3K $17.16/SF
− OpEx
−$10.3K −$5.15/SF
NOI
$24.0K $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%
$480,400
Cap Rate 7%
$343,143
Cap Rate 9%
$266,889
Alternative Uses
Best Use
Multifamily LT 5
$343.1K
$300.3K – $400.3K
NOI $24,020 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$316.0K
$276.5K – $368.7K
NOI $22,121 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$531.0K
$464.6K – $619.5K
NOI $37,171 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,002
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private outdoor space and access to nearby schools, shopping, and commuter routes.
Where is this duplex located?
The property is located at 3441 Livingston St Salem, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; Attached 1‑car garage for each unit; Private backyard assigned to each residence
