Two-Unit Duplex with
2486-2488 Wintergreen Av NW, Salem, OR 97304
For Sale
$477,000
Multi Family, Salem, OR
Property Size2,270 SF
Lot Size0.17 Acres
Price / SF$210.13
Days on Market52
Property Features for 2486-2488 Wintergreen Av NW
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Lot features
View
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
private fenced backyard
in-unit laundry
Building Details
Year built
Number of units
Flooring type
Roof type
Buildings
Listing Agency:
HOMESMART REALTY GROUP - MONMOUTH
Listed By:
LISA ANN SCHEIRMAN · License OR #200503017
(503) 949-2411
Added: Sep 23
Changed: Nov 5
Last Checked: Nov 13 at 8:06AM
MLS# 845914
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.
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Investment Insights
Based on property information with market context.
Built in 1981, this single-level duplex contains 2,270 square feet across two residences, each measuring 1,135 square feet. Both units have two bedrooms, two full bathrooms, an open living, dining, and kitchen area, in-unit laundry, and an attached single-car garage. Each residence also has a private fenced backyard and a patio. Flooring includes vinyl and carpet, with electric baseboard heat and a composition roof.
The property occupies 0.17 acres in Salem and is zoned RM2. Both sides have long-term tenants.
The property occupies 0.17 acres in Salem and is zoned RM2. Both sides have long-term tenants.
Key Highlights
- Two residences, each with 1,135 square feet
- Each unit has 2 bedrooms and 2 full bathrooms
- Attached single‑car garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,263
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,260
$545.3K
Cap Rate 7%
$389,471
$389.5K
Cap Rate 9%
$302,922
$302.9K
Market Conditions
NOI Build-Up for 2,270 SF
Gross rent
$41.7K $18.36/SF
− Vacancy
−$2.7K −$1.20/SF
EGI
$38.9K $17.16/SF
− OpEx
−$11.7K −$5.15/SF
NOI
$27.3K $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 Rate 5%
$545,260
Cap Rate 7%
$389,471
Cap Rate 9%
$302,922
Alternative Uses
Best Use
Multifamily LT 5
$389.5K
$340.8K – $454.4K
NOI $27,263 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$358.7K
$313.8K – $418.5K
NOI $25,107 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$602.7K
$527.4K – $703.2K
NOI $42,189 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
128
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
$469,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Salem, OR
Properties on Market for Duplexes in Salem
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include two bedrooms, two full bathrooms, in-unit laundry, and a private fenced yard.
Where is this duplex located?
The property is located at 2486-2488 Wintergreen Av NW Salem, OR.
What is the asking price?
The asking price for this property is $477,000.
What are key features of this property?
This property features: Two residences, each with 1,135 square feet; Each unit has 2 bedrooms and 2 full bathrooms; Attached single‑car garage for each residence
