Duplex with Two 1BR
For Sale
$354,750
3027 NE D St, Salem, OR 97301
MULTI_FAMILY - Salem, OR
Property Size1,558 SF
Lot Size0.09 Acres
Price / SF$227.70
Days on Market220
Property Features for 3027 NE D St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2
Lot features
Lot: 1
View
Territorial
Elementary school
Hoover
Middle school
Parrish
High school
North Salem
Directions
Off of the I-5 and Market St exit, head west on Market St, then turn left (south) on Savage Rd NE, then turn right (west) on D St, and the subject property will be on your right.
Standard status
Active
APN
527217
Size
1,558 SF
Lot size
0.09 Acres
Utilities
Heating system
Electric (Heating)
Amenities
storage shed
shared laundry area
covered front porch
partially fenced yard
Building Details
Year built
1939
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Composition
Listing Agency:
CENTURION REAL ESTATE SERVICES
(503) 883-8141
Listed By:
JESSE BARNES
(541) 760-6505
Added: Jan 13
Changed: Aug 10
Last Checked: Aug 21 at 4:06PM
MLS# 836553
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 offers two separate 1 bedroom, 1 bathroom units, each with interior updates and a well-cared-for layout. Flooring includes vinyl and carpet. The property is supported by electric heating and a composition roof. Shared amenities include a one-car carport, a shared laundry area, and a storage shed.
Exterior improvements include thermal pane vinyl windows (with some aluminum-framed windows), a covered front porch, and a partially fenced yard with wood siding. Built in 1939, the property sits on a 0.0919-acre lot at 3027 NE D St in Salem, OR 97301, within RM2 zoning.
For day-to-day tenant use, the unit configuration and shared common elements are designed around straightforward living, while the exterior upgrades help support comfort and ongoing maintenance.
Exterior improvements include thermal pane vinyl windows (with some aluminum-framed windows), a covered front porch, and a partially fenced yard with wood siding. Built in 1939, the property sits on a 0.0919-acre lot at 3027 NE D St in Salem, OR 97301, within RM2 zoning.
For day-to-day tenant use, the unit configuration and shared common elements are designed around straightforward living, while the exterior upgrades help support comfort and ongoing maintenance.
Key Highlights
- Two separate 1 bed 1 bath units
- RM2 zoning
- Shared one‑car carport, shared laundry area, and storage shed
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
$18,712
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
5.27%
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%
$374,240
$374.2K
Cap Rate 7%
$267,314
$267.3K
Cap Rate 9%
$207,911
$207.9K
Market Conditions
NOI Build-Up for 1,558 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
$28.6K $18.36/SF
− Vacancy
−$1.9K −$1.20/SF
EGI
$26.7K $17.16/SF
− OpEx
−$8.0K −$5.15/SF
NOI
$18.7K $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%
$374,240
Cap Rate 7%
$267,314
Cap Rate 9%
$207,911
Alternative Uses
Best Use
Multifamily LT 5
$267.3K
$233.9K – $311.9K
NOI $18,712 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$246.2K
$215.4K – $287.2K
NOI $17,232 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$413.7K
$362.0K – $482.6K
NOI $28,956 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
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 - Duplex in RM2 zoning with two 1 bed 1 bath units, shared carport, and shared laundry area.
Where is this duplex located?
The property is located at 3027 NE D St Salem, OR.
What is the asking price?
The asking price for this property is $354,750.
What are key features of this property?
This property features: Two separate 1 bed 1 bath units; RM2 zoning; Shared one‑car carport, shared laundry area, and storage shed
