Updated Duplex with
New
For Sale
$489,900
1885 Skyline Ct S, Salem, OR 97306
Multi Family, Salem, OR
Property Size1,854 SF
Lot Size0.16 Acres
Price / SF$264.24
Days on Market2
Property Features for 1885 Skyline Ct S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2
Patio and Porch features
Patio
Subdivision
Skyline Loop Subdivision
Lot features
Cul-de-sac, Lot: 28
Elementary school
Liberty
Middle school
Crossler
High school
Sprague
Directions
Skyline Rd to Skyline Village Loop to Skyline Ct.
Standard status
Active
APN
590543
Size
1,854 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5550
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1994
Number of units
2
Flooring type
Carpet, Laminate
Roof type
Composition
Listing Agency:
BLUM REAL ESTATE
Listed By:
GLADYS BLUM
(503) 485-1900
Added: Sep 21
Last Checked: Sep 22 at 7:06PM
MLS# 845846
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 1,854-square-foot duplex was built in 1994 on a 0.16-acre lot. One unit has been updated, while the second provides a separate residential layout within the property. Interior features include carpet and laminate flooring, with natural-gas forced-air heating. The building also has a composition roof and patio space.
Located in Salem, Oregon, the property is designated RM2. Its room count includes four bedrooms and two bathrooms, supporting a two-unit residential configuration. The property is offered for sale.
Located in Salem, Oregon, the property is designated RM2. Its room count includes four bedrooms and two bathrooms, supporting a two-unit residential configuration. The property is offered for sale.
Key Highlights
- 1,854‑square‑foot duplex on a 0.16‑acre lot
- Built in 1994 with a composition roof
- 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
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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 - Duplex in RM2 zoning with one refreshed unit, natural-gas forced-air heat, and patio space.
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: 1,854‑square‑foot duplex on a 0.16‑acre lot; Built in 1994 with a composition roof; One unit has been updated
