Updated Duplex on Corner
2586 Wintergreen Ave Nw, Salem, OR 97304
For Sale
$509,900
Two-unit property with refreshed interiors, private fenced yards, and washer and dryer hookups in each residence.
Property Size1,676 SF
Price / SF$304.24
Days on Market63
Property Features for 2586 Wintergreen Ave Nw
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
W/D hookups
fully fenced yards
EV car charger ready
Listing Agency:
TIM HILL REALTY GROUP LLC
Listed By:
TIMOTHY HILL · License OR #930600005
(503) 507-0986
Source:
Exprealty
Added: Sep 12
Changed: Nov 9
Last Checked: Nov 12 at 8:35AM
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 TIM HILL REALTY GROUP LLC
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Investment Insights
Based on property information with market context.
This 1,676-square-foot duplex occupies a corner lot and offers updated living spaces in both units. The property includes two separate residences, each with washer and dryer hookups and a large, fully fenced yard. The yards are identified as pet friendly, providing private outdoor space for occupants.
Unit 2588 received 2022 improvements including interior paint, windows, a sliding glass door, baseboard trim, kitchen countertops, floating shelves, an EV charger-ready setup, and bathroom finishes with a new surround, tile, vanity, and lighting. Unit 2586 received new flooring, kitchen and bathroom counters, lighting fixtures, windows, a sliding door, and baseboard trim during 2022. Exterior painting was completed this month. The property is located at 2586 Wintergreen Ave Nw in Salem, Oregon.
Unit 2588 received 2022 improvements including interior paint, windows, a sliding glass door, baseboard trim, kitchen countertops, floating shelves, an EV charger-ready setup, and bathroom finishes with a new surround, tile, vanity, and lighting. Unit 2586 received new flooring, kitchen and bathroom counters, lighting fixtures, windows, a sliding door, and baseboard trim during 2022. Exterior painting was completed this month. The property is located at 2586 Wintergreen Ave Nw in Salem, Oregon.
Key Highlights
- 1,676‑square‑foot duplex on a corner lot
- Unit 2588 updated in 2022 with windows, kitchen finishes, bathroom improvements, and EV charger‑ready setup
- Unit 2586 received 2022 flooring, window, kitchen, bathroom, lighting, and trim updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,129
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
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
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 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 3.95%
Second Best
Apartment 5plus
$264.8K
$231.7K – $309.0K
NOI $18,537 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$445.0K
$389.4K – $519.2K
NOI $31,149 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
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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
$469,500
Median Home Value
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Market
Average Price Trend$/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 - Two-unit property with refreshed interiors, private fenced yards, and washer and dryer hookups in each residence.
Where is this duplex located?
The property is located at 2586 Wintergreen Ave Nw Salem, OR.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: 1,676‑square‑foot duplex on a corner lot; Unit 2588 updated in 2022 with windows, kitchen finishes, bathroom improvements, and EV charger‑ready setup; Unit 2586 received 2022 flooring, window, kitchen, bathroom, lighting, and trim updates
