Updated Duplex with Fenced
New
For Sale
$539,000
2586 Wintergreen -2588 Av NW, Salem, OR 97304
Two refreshed units feature washer/dryer hookups, fenced yards, and pet-friendly outdoor space.
Property Size1,676 SF
Price / SF$321.60
Days on Market4
Property Features for 2586 Wintergreen -2588 Av NW
General Information
Standard status
Active
Size
1,676 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
W/D hookups
fenced yards
pet friendly
EV car charger ready
Building Details
Year Built
1991
Buildings
1
Listing Agency:
Homesmart Realty Group
(541) 401-9467
Listed By:
Matin Real Estate
(503) 208-8406
Source:
Portlandrealestate
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 16 at 6:39PM
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 Homesmart Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 1,676-square-foot property built in 1991. Both units include washer/dryer hookups, fully fenced yards, and outdoor areas identified as pet friendly. The property occupies a corner lot and includes improvements to both interiors and the exterior.
Unit 2588 received 2022 updates including interior paint, windows, a sliding glass door, baseboard trim, kitchen countertops, floating shelves, an EV charger-ready setup, and bathroom finishes. Unit 2586 received new flooring, kitchen and bathroom counters, lighting fixtures, windows, a sliding door, and baseboard trim during 2022. The property is located at 2586 Wintergreen (-2588) Av NW in Salem, Oregon.
Unit 2588 received 2022 updates including interior paint, windows, a sliding glass door, baseboard trim, kitchen countertops, floating shelves, an EV charger-ready setup, and bathroom finishes. Unit 2586 received new flooring, kitchen and bathroom counters, lighting fixtures, windows, a sliding door, and baseboard trim during 2022. The property is located at 2586 Wintergreen (-2588) Av NW in Salem, Oregon.
Key Highlights
- 1,676‑square‑foot duplex built in 1991
- Corner‑lot property with fully fenced yards
- Both units include washer/dryer hookups and pet‑friendly outdoor space
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
$20,129
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
3.73%
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%
$402,580
$402.6K
Cap Rate 7%
$287,557
$287.6K
Cap Rate 9%
$223,656
$223.7K
Market Conditions
NOI Build-Up for 1,676 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
$30.8K $18.36/SF
− Vacancy
−$2.0K −$1.20/SF
EGI
$28.8K $17.16/SF
− OpEx
−$8.6K −$5.15/SF
NOI
$20.1K $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 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%
$402,580
Cap Rate 7%
$287,557
Cap Rate 9%
$223,656
Alternative Uses
Best Use
Multifamily LT 5
$287.6K
$251.6K – $335.5K
NOI $20,129 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$264.8K
$231.7K – $309.0K
NOI $18,537 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$445.0K
$389.4K – $519.2K
NOI $31,149 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed units feature washer/dryer hookups, fenced yards, and pet-friendly outdoor space.
Where is this duplex located?
The property is located at 2586 Wintergreen -2588 Av NW Salem, OR.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 1,676‑square‑foot duplex built in 1991; Corner‑lot property with fully fenced yards; Both units include washer/dryer hookups and pet‑friendly outdoor space
