Townhouse-Style
For Sale
$814,900
1725-1731 Salishan St SE, Salem, OR 97302
MULTI_FAMILY - Salem, OR
Property Size4,336 SF
Lot Size0.29 Acres
Price / SF$187.94
Days on Market20
Property Features for 1725-1731 Salishan St SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 5, Bathroom 6, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 1, Bedroom 8
Patio and Porch features
Deck
Subdivision
Laguna Village South II S
Lot features
Dimension Above, Lot: 9
View
Water
Elementary school
Morningside
Middle school
Leslie
High school
South Salem
Directions
S on Pringle, Right on Salishan
Standard status
Active
APN
580382
Size
4,336 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
6982
Utilities
Heating system
Electric (Heating), Zoned, Ductless (Heating)
Water front
1
Amenities
washer/dryer hookups
private deck
low-maintenance landscaping
Building Details
Year built
1976
Number of units
4
Flooring type
Vinyl, Carpet
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
BRIAN SMITH
(503) 551-8510
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 12 at 12:06AM
MLS# 843873
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 four-unit residential property contains 4,336 square feet arranged in a townhouse-style configuration. Built in 1976, the asset includes four two-bedroom, one-and-a-half-bath units, each with washer and dryer hookups, a private deck, and an attached single-car garage. Interior finishes include carpet and vinyl flooring, with electric, ductless, and zoned heating systems. A composition roof was installed in 2020.
The 0.29-acre property is located on Salishan St SE in South Salem near Pringle Creek. RM2 zoning, low-maintenance landscaping, and additional parking support the existing multifamily use. Two units are leased below market rent, while the property also has a documented rental history and low vacancy.
The 0.29-acre property is located on Salishan St SE in South Salem near Pringle Creek. RM2 zoning, low-maintenance landscaping, and additional parking support the existing multifamily use. Two units are leased below market rent, while the property also has a documented rental history and low vacancy.
Key Highlights
- Four‑unit townhouse‑style property totaling 4,336 square feet
- Each unit offers 2 bedrooms, 1.5 bathrooms, a private deck, and washer/dryer hookups
- Attached single‑car garage provided for every 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
$52,076
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
6.39%
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%
$1,041,520
$1.0M
Cap Rate 7%
$743,943
$743.9K
Cap Rate 9%
$578,622
$578.6K
Market Conditions
NOI Build-Up for 4,336 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
$79.6K $18.36/SF
− Vacancy
−$5.2K −$1.20/SF
EGI
$74.4K $17.16/SF
− OpEx
−$22.3K −$5.15/SF
NOI
$52.1K $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%
$1,041,520
Cap Rate 7%
$743,943
Cap Rate 9%
$578,622
Alternative Uses
Best Use
Multifamily LT 5
$743.9K
$651.0K – $867.9K
NOI $52,076 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$685.1K
$599.5K – $799.3K
NOI $47,957 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,587 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
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?
Quadplex - Four attached residential units feature private outdoor space, garage parking, and in-unit laundry hookups.
Where is this quadplex located?
The property is located at 1725-1731 Salishan St SE Salem, OR.
What is the asking price?
The asking price for this property is $814,900.
What are key features of this property?
This property features: Four‑unit townhouse‑style property totaling 4,336 square feet; Each unit offers 2 bedrooms, 1.5 bathrooms, a private deck, and washer/dryer hookups; Attached single‑car garage provided for every unit
