Duplex with Updated
For Sale
$529,000
1941 Turnage St NW, Salem, OR 97304
Multi Family, Salem, OR
Property Size2,170 SF
Lot Size0.24 Acres
Price / SF$243.78
Days on Market94
Property Features for 1941 Turnage St NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2
Subdivision
College
Lot features
Lot: 15
View
Territorial
Elementary school
Kalapuya
Middle school
Walker
High school
West Salem
Standard status
Active
APN
263531
Size
2,170 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
5308
Utilities
Heating system
Electric (Heating)
Amenities
laundry room
Building Details
Number of units
2
Flooring type
Carpet
Roof type
Composition
Listing Agency:
COLDWELL BANKER MOUNTAIN WEST REAL ESTATE, INC. · Coldwell Banker Real Estate
(503) 364-9596
Listed By:
ANDREA BEYER · License #900100236
(503) 551-5320
Added: Jul 13
Changed: Sep 13
Last Checked: Oct 14 at 10:06PM
MLS# 843376
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 duplex contains two residential units, each with 2 bedrooms, 1 bathroom, and a laundry room. The 2,170-square-foot property includes new carpet and floor coverings, stainless appliances, and washer/dryer sets. A composition roof was installed in 2017, and heating is electric. A basement is also included in the building configuration.
The property occupies 0.24 acres and is zoned RS. Both units are currently occupied by tenants. Included appliances and recent interior updates provide a defined operating setup for the existing two-unit configuration.
The property occupies 0.24 acres and is zoned RS. Both units are currently occupied by tenants. Included appliances and recent interior updates provide a defined operating setup for the existing two-unit configuration.
Key Highlights
- Two‑unit duplex with 2,170 square feet of property size
- Each unit includes 2 bedrooms, 1 bathroom, and a laundry room
- New carpet and floor coverings in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,062
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,240
$521.2K
Cap Rate 7%
$372,314
$372.3K
Cap Rate 9%
$289,578
$289.6K
Market Conditions
NOI Build-Up for 2,170 SF
Gross rent
$39.8K $18.36/SF
− Vacancy
−$2.6K −$1.20/SF
EGI
$37.2K $17.16/SF
− OpEx
−$11.2K −$5.15/SF
NOI
$26.1K $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 Rate 5%
$521,240
Cap Rate 7%
$372,314
Cap Rate 9%
$289,578
Alternative Uses
Best Use
Multifamily LT 5
$372.3K
$325.8K – $434.4K
NOI $26,062 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$342.9K
$300.0K – $400.0K
NOI $24,001 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$576.2K
$504.1K – $672.2K
NOI $40,331 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 97304, OR
34,102
Population
14,547
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
56.8 sq mi
ZIP Area
600
Density / Sq Mi
$91,731
Median Household Income
$53,370
Median Earnings
$1,441
Median Rent
$469,500
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 residential units offer matching bedroom layouts, private laundry rooms, and included appliances.
Where is this duplex located?
The property is located at 1941 Turnage St NW Salem, OR.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,170 square feet of property size; Each unit includes 2 bedrooms, 1 bathroom, and a laundry room; New carpet and floor coverings in both units
