Duplex with Attached 1-Car
For Sale
$450,000
3441 Livingston St NE, Salem, OR 97301
MULTI_FAMILY - Salem, OR
Property Size2,000 SF
Lot Size0.20 Acres
Price / SF$225
Days on Market103
Property Features for 3441 Livingston St NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3
Lot features
Lot: 8
Elementary school
Washington
Middle school
Waldo
High school
McKay
Directions
From I-5, take Exit 256, W on Market St, R on Lancaster Dr NE, L on Livingston St NE
Standard status
Active
APN
585726
Size
2,000 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3468
Building Details
Year built
1955
Number of units
2
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
SHAWN RICHARDSON · License #201210661
(208) 912-5591
Added: May 11
Changed: Aug 3
Last Checked: Aug 21 at 5:06PM
MLS# 840920
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 well-located duplex in Salem offers two separate units, each with two bedrooms and one bathroom. Both units include an attached 1-car garage and feature a private backyard for outdoor space and added privacy.
The property sits on a 0.2-acre lot and was built in 1955. Total building size is 2,000 square feet. The home is positioned near schools, shopping, and major commuter routes, supporting everyday convenience for residents.
Whether you plan to occupy one side or run the property as a residential rental, the unit layout provides distinct living spaces, each with its own attached garage and private outdoor area.
The property sits on a 0.2-acre lot and was built in 1955. Total building size is 2,000 square feet. The home is positioned near schools, shopping, and major commuter routes, supporting everyday convenience for residents.
Whether you plan to occupy one side or run the property as a residential rental, the unit layout provides distinct living spaces, each with its own attached garage and private outdoor area.
Key Highlights
- Duplex with two units, each offering two bedrooms and one bathroom
- Attached 1‑car garage with each unit
- Private backyard for each unit
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
$24,020
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
5.34%
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%
$480,400
$480.4K
Cap Rate 7%
$343,143
$343.1K
Cap Rate 9%
$266,889
$266.9K
Market Conditions
NOI Build-Up for 2,000 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
$36.7K $18.36/SF
− Vacancy
−$2.4K −$1.20/SF
EGI
$34.3K $17.16/SF
− OpEx
−$10.3K −$5.15/SF
NOI
$24.0K $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%
$480,400
Cap Rate 7%
$343,143
Cap Rate 9%
$266,889
Alternative Uses
Best Use
Multifamily LT 5
$343.1K
$300.3K – $400.3K
NOI $24,020 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$316.0K
$276.5K – $368.7K
NOI $22,121 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$531.0K
$464.6K – $619.5K
NOI $37,171 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,003
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 - Salem duplex on 0.2-acre lot with two 2-bed, 1-bath units and attached 1-car garages.
Where is this duplex located?
The property is located at 3441 Livingston St NE Salem, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex with two units, each offering two bedrooms and one bathroom; Attached 1‑car garage with each unit; Private backyard for each unit
