Two-Home Duplex
For Sale
$499,000
1540 Salem -1530 Av SE, Albany, OR 97321
Multi Family, Albany, OR
Property Size1,716 SF
Lot Size0.66 Acres
Price / SF$290.79
Days on Market124
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
Basement, Loft, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Game Room
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
Building Details
Year built
1895
Number of units
2
Flooring type
Laminate, Tile, Carpet
Roof type
Composition
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
RICKY CEDILLO
(503) 559-2489
Added: Jun 22
Changed: Oct 20
Last Checked: Oct 23 at 10:06AM
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.
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Investment Insights
Based on property information with market context.
This duplex property includes two homes on a single tax lot totaling 1,716 square feet on 0.66 acres. One home is vacant and has new carpet and laminate flooring, along with a deck overlooking Periwinkle Creek. The second residence is furnished for mid-term rental use and has a remodeled bathroom.
The property is zoned Albany-RM and is located in Albany, Oregon, across from King Kone.
The property is zoned Albany-RM and is located in Albany, Oregon, across from King Kone.
Key Highlights
- Two homes on one tax lot
- 1,716 square feet on 0.66 acres
- Furnished mid‑term rental residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,199
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
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
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 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 3.25%
Second Best
Apartment 5plus
$213.2K
$186.5K – $248.7K
NOI $14,923 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$499.9K
$437.4K – $583.2K
NOI $34,993 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the other is furnished and operating as a mid-term rental.
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 $499,000.
What are key features of this property?
This property features: Two homes on one tax lot; 1,716 square feet on 0.66 acres; Furnished mid‑term rental residence
