Duplex with Flexible Upstairs
For Sale
$398,000
2522/2520 Main St SE, Albany, OR 97322
Two-level duplex with a backyard, garage laundry hookups, and adaptable bonus space.
Property Size2,080 SF
Price / SF$191.35
Days on Market149
Property Features for 2522/2520 Main St SE
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Building Details
Year Built
1968
Listing Agency:
Exp Realty, Llc
Listed By:
ELIZABETH BOISVERT 541-243-2547
(541) 243-2547
Source:
Searchsalemhomelistings
Added: Apr 12
Changed: Sep 6
Last Checked: Sep 7 at 10:07AM
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 Exp Realty, Llc
Investment Insights
Based on property information with market context.
This duplex, built in 1968, offers a practical two-level layout with living, kitchen, bath, and flexible-use areas. The main floor includes a living room, half bath, and kitchen with a sliding door opening to a large backyard. The garage is equipped with laundry hookups.
Upstairs, a loft or bonus area includes a closet and can function as a second bedroom or adaptable flex space. The property is located at 2522/2520 Main St SE in Albany, Oregon 97322.
Upstairs, a loft or bonus area includes a closet and can function as a second bedroom or adaptable flex space. The property is located at 2522/2520 Main St SE in Albany, Oregon 97322.
Key Highlights
- Duplex property with 2,080 square feet
- Main level includes living room, half bath, and kitchen
- Kitchen opens to a large backyard through a slider
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
$19,635
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
4.93%
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%
$392,700
$392.7K
Cap Rate 7%
$280,500
$280.5K
Cap Rate 9%
$218,167
$218.2K
Market Conditions
NOI Build-Up for 2,080 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
$28.7K $13.80/SF
− Vacancy
−$654 −$0.31/SF
EGI
$28.0K $13.49/SF
− OpEx
−$8.4K −$4.05/SF
NOI
$19.6K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /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%
$392,700
Cap Rate 7%
$280,500
Cap Rate 9%
$218,167
Alternative Uses
Best Use
Multifamily LT 5
$280.5K
$245.4K – $327.3K
NOI $19,635 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$258.4K
$226.1K – $301.5K
NOI $18,088 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$605.9K
$530.2K – $706.9K
NOI $42,416 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
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?
Duplex - Two-level duplex with a backyard, garage laundry hookups, and adaptable bonus space.
Where is this duplex located?
The property is located at 2522/2520 Main St SE Albany, OR.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Duplex property with 2,080 square feet; Main level includes living room, half bath, and kitchen; Kitchen opens to a large backyard through a slider
