Duplex With Attached
For Sale
$450,000
3441 LIVINGSTON St, Salem, OR 97301
MultiFamily, Salem, OR
Property Size2,000 SF
Lot Size0.20 Acres
Price / SF$225
Days on Market103
Property Features for 3441 LIVINGSTON St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
View
Territorial
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
Subdivision
_174
Standard status
Active
APN
585726
Size
2,000 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
PEONY GARDENS LOT 8 BLK 1
Tax Annual Amount
3469
Legal Description
PEONY GARDENS LOT 8 BLK 1
Utilities
Heating system
Baseboard
Amenities
private backyard
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Shawn Richardson · License #201210661
(208) 912-5591
Added: May 11
Changed: Aug 21
Last Checked: Aug 21 at 3:06PM
MLS# 233330746
Copyright © 2026 Regional Multiple Listing Services. 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 contains 2,000 square feet arranged as two residential units. Each unit includes 2 bedrooms, 1 bathroom, an attached 1-car garage, and a private backyard. The property has baseboard heating, a composition roof, and a 1955 construction date.
Set on 0.2 acres at 3441 LIVINGSTON St in Salem, Oregon, the property carries R1 zoning. Schools, shopping, and major commuter routes are identified nearby, adding practical access for residents. The two-unit layout supports multifamily ownership or an owner-occupant arrangement.
Set on 0.2 acres at 3441 LIVINGSTON St in Salem, Oregon, the property carries R1 zoning. Schools, shopping, and major commuter routes are identified nearby, adding practical access for residents. The two-unit layout supports multifamily ownership or an owner-occupant arrangement.
Key Highlights
- Two‑unit duplex with 2,000 square feet of total property size
- Each unit includes 2 bedrooms and 1 bathroom
- Attached 1‑car garage provided 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
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,002
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 - Two-bedroom units offer private backyards, baseboard heating, and separate attached garage access.
Where is this duplex located?
The property is located at 3441 LIVINGSTON St 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: Two‑unit duplex with 2,000 square feet of total property size; Each unit includes 2 bedrooms and 1 bathroom; Attached 1‑car garage provided for each unit
