Two-Home Duplex on One
1540 Salem -1530 Av SE Albany, OR 97321
1540 Salem -1530 Av SE, Albany, OR, 97321
$579,000
For Sale
$579,000
MULTI_FAMILY - Albany, OR
Property Size1,716 SF
Lot Size0.66 Acres
Price / SF$337.41
Days on Market31
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
- Rooms
- Loft, Bathroom 2, Basement, Bedroom 2, Bathroom 1, Game Room, Bedroom 1, Bedroom 3
- Patio and Porch features
- Deck
- Fireplace
- 1
- 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
- Wall Furnace, Electric (Heating)
Building Details
- Year built
- 1895
- Number of units
- 2
- Flooring type
- Tile, Laminate, Carpet
- Roof type
- Composition
Listing agency
EXP REALTY, LLC
(888) 814-9613
Listed by
RICKY CEDILLO
(503) 559-2489
Added: Jun 22 Updated: Jul 21 at 8:42AM Checked: Jul 22 at 11:06AM
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.
Investment Insights
Based on property information with market context.
This property consists of two homes on one tax lot, offering an owner-occupant setup or two rental options. One residence is currently vacant and described as move-in ready, with brand-new carpet and laminate flooring. The home also features a spacious deck with views overlooking Periwinkle Creek.
The second home is described as furnished and currently operating as a mid-term rental, generating $2,500/month in income. The property notes this home sits directly across from King Kone and highlights an immaculate bathroom remodel.
Located in Albany, Oregon within Albany-RM zoning, the offering includes a 0.66-acre lot with 1,716 square feet of property size, per the provided materials.
The second home is described as furnished and currently operating as a mid-term rental, generating $2,500/month in income. The property notes this home sits directly across from King Kone and highlights an immaculate bathroom remodel.
Located in Albany, Oregon within Albany-RM zoning, the offering includes a 0.66-acre lot with 1,716 square feet of property size, per the provided materials.
Key Highlights
- Two homes on one tax lot, offering flexible living and income options
- Second home is a fully furnished mid‑term rental generating $2,500/month in income
- Spacious deck with views overlooking Periwinkle Creek
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.7k | $13.80 |
| − Vacancy | −$540 | −$0.31 |
| EGI | $23.1k | $13.49 |
| − OpEx | −$6.9k | −$4.05 |
| NOI | $16.2k | $9.44 |
1,716 SF · lease $13.80/SF/yr · vacancy 2.28% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $270.0K
NOI $16,199 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$213.2K
$186.5K – $248.7K
NOI $14,923 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$499.9K
$437.4K – $583.2K
NOI $34,993 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - One home is move-in ready and one is a furnished mid-term rental generating $2,500/month on a single tax lot.
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 $579,000.
What are key features of this property?
This property features: Two homes on one tax lot, offering flexible living and income options; Second home is a fully furnished mid‑term rental generating $2,500/month in income; Spacious deck with views overlooking Periwinkle Creek
