Duplex with Creek
For Sale
$549,000
1540 Salem -1530 Av SE, Albany, OR 97321
MULTI_FAMILY - Albany, OR
Property Size1,716 SF
Lot Size0.66 Acres
Price / SF$319.93
Days on Market51
Property Features for 1540 Salem -1530 Av SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Albany-RM
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 1, Loft, Bathroom 2, Game Room, Bedroom 2, Bedroom 3
Patio and Porch features
Deck
Fireplace
1
Subdivision
Allen and Hawkins
Lot features
Irregular, Lot: 4
Elementary school
Waverly
Middle school
Memorial
High school
West Albany
Standard status
Active
APN
76014
Size
1,716 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4480
Utilities
Heating system
Electric (Heating), Wall Furnace
Amenities
deck
creek views
Building Details
Year built
1895
Number of units
2
Flooring type
Carpet, Laminate, Tile
Roof type
Composition
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
RICKY CEDILLO
(503) 559-2489
Added: Jun 22
Changed: Aug 11
Last Checked: Aug 11 at 6:06PM
MLS# 841986
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property includes two homes on a single tax lot, offering separate living arrangements within a 1,716-square-foot residential setup. One home is vacant and has new carpet and laminate flooring, while the other is furnished and operating as a mid-term rental. Interior features include tile, laminate, and carpet flooring, two bathrooms, three bedrooms, a basement, game room, and loft. Heating is provided by electric systems and wall furnaces, and the property also includes a fireplace, composition roof, and deck.
Set on 0.66 acres in Albany, the property includes views of Periwinkle Creek and is located across from King Kone. The zoning designation is Albany-RM. Built in 1895, the two-home configuration supports a range of residential living and rental arrangements without combining the residences into one structure.
Set on 0.66 acres in Albany, the property includes views of Periwinkle Creek and is located across from King Kone. The zoning designation is Albany-RM. Built in 1895, the two-home configuration supports a range of residential living and rental arrangements without combining the residences into one structure.
Key Highlights
- Two homes situated on one tax lot
- 1,716 square feet on 0.66 acres
- One residence furnished and operating as a mid‑term rental
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
$16,199
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
2.95%
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%
$323,980
$324.0K
Cap Rate 7%
$231,414
$231.4K
Cap Rate 9%
$179,989
$180.0K
Market Conditions
NOI Build-Up for 1,716 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
$23.7K $13.80/SF
− Vacancy
−$540 −$0.31/SF
EGI
$23.1K $13.49/SF
− OpEx
−$6.9K −$4.05/SF
NOI
$16.2K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /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%
$323,980
Cap Rate 7%
$231,414
Cap Rate 9%
$179,989
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $270.0K
NOI $16,199 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$213.2K
$186.5K – $248.7K
NOI $14,923 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$499.9K
$437.4K – $583.2K
NOI $34,993 @ 7.0% cap · market cap 6.37%
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
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 97321, OR
30,291
Population
11,790
Households
2.6
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
69.1 sq mi
ZIP Area
438
Density / Sq Mi
$95,687
Median Household Income
$45,963
Median Earnings
$1,264
Median Rent
$442,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate homes on one tax lot provide flexible owner-occupant and rental configurations.
Where is this duplex located?
The property is located at 1540 Salem -1530 Av SE Albany, OR.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two homes situated on one tax lot; 1,716 square feet on 0.66 acres; One residence furnished and operating as a mid‑term rental
