Duplex With Updated
New
For Sale
$489,900
1885 Skyline Ct S, Salem, OR 97306
Two-unit residential property with one refreshed unit and a second unit offering update potential.
Property Size1,854 SF
Price / SF$264.24
Days on Market5
Property Features for 1885 Skyline Ct S
General Information
Standard status
Active
Size
1,854 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1994
Buildings
1
Listing Agency:
RE/MAX Integrity Corvallis Branch
(541) 918-5040
Listed By:
Matin Real Estate
(503) 208-8406
Source:
Portlandrealestate
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 26 at 6:44AM
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 RE/MAX Integrity Corvallis Branch
Investment Insights
Based on property information with market context.
This duplex contains 1,854 square feet and was built in 1994. One unit has been updated to provide refreshed living space, while the other offers an opportunity for further improvements. The two-unit configuration supports separate residential occupancy and provides flexibility for an owner occupant or rental operation.
Located at 1885 Skyline Ct S in Salem, Oregon, the property is in Southeast Salem near shopping, schools, and parks. Its residential income-property format and existing updates provide a straightforward foundation for continued ownership or renovation planning.
Located at 1885 Skyline Ct S in Salem, Oregon, the property is in Southeast Salem near shopping, schools, and parks. Its residential income-property format and existing updates provide a straightforward foundation for continued ownership or renovation planning.
Key Highlights
- Duplex with 1,854 square feet
- Built in 1994
- One unit has been updated
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
$22,267
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
4.55%
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%
$445,340
$445.3K
Cap Rate 7%
$318,100
$318.1K
Cap Rate 9%
$247,411
$247.4K
Market Conditions
NOI Build-Up for 1,854 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
$34.0K $18.36/SF
− Vacancy
−$2.2K −$1.20/SF
EGI
$31.8K $17.16/SF
− OpEx
−$9.5K −$5.15/SF
NOI
$22.3K $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%
$445,340
Cap Rate 7%
$318,100
Cap Rate 9%
$247,411
Alternative Uses
Best Use
Multifamily LT 5
$318.1K
$278.3K – $371.1K
NOI $22,267 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$292.9K
$256.3K – $341.8K
NOI $20,506 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$492.3K
$430.7K – $574.3K
NOI $34,458 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 97306, OR
34,715
Population
14,151
Households
2.5
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
32.4 sq mi
ZIP Area
1,071
Density / Sq Mi
$89,773
Median Household Income
$50,931
Median Earnings
$1,455
Median Rent
$438,900
Median Home Value
Check the figures for this property
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 - Two-unit residential property with one refreshed unit and a second unit offering update potential.
Where is this duplex located?
The property is located at 1885 Skyline Ct S Salem, OR.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Duplex with 1,854 square feet; Built in 1994; One unit has been updated
