Well-Maintained Duplex with
3624 Hermosa Ct NE Salem, OR 97305
New
MULTI_FAMILY - Salem, OR
Property size:
2,336 SFLot size:
0.24 AcresPrice / SF:
$233/SF- Added:
- Jul 6, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 10 at 6:06 pm
Property Features for 3624 Hermosa Ct NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RL
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 1, Bathroom 2
- Patio and Porch features
- Patio
- Fireplace
- 1
- Standard status
- Active
- APN
- 556138
- Size
- 2,336 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3717
Utilities
- Heating system
- Natural Gas, Forced Air
Building Details
- Year built
- 1973
- Number of units
- 2
- Flooring type
- Vinyl, Carpet
- Roof type
- Composition
Listing agent JOHN ZOBRIST (503) 931-5020
Listing office EXP REALTY, LLC 4800 MEADOWS RD, STE 300, Lake Oswego, OR (888) 814-9613
Listing date Jul 6, 2026
MLS# 843267
Listing URL
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-maintained duplex includes two separate living units with spacious sunken living rooms and fireplaces that are piped to accept gas logs. Each unit features garage space, with one offering a two-car garage and the other a very deep one-car garage. Multiple recent updates are described across both units, including newly painted interiors and garages with new garage doors, annually cleaned and treated roofs, custom gutter covers, and entry storm doors. Attic spaces are floored with lighting for additional storage.
Located on a quiet cul-de-sac, the property is described as close to Chemeketa Community College. The listing notes a history of long-term tenants and a neighborhood with limited traffic.
Additional unit-specific improvements mentioned include a new gas furnace and new gas water heater for 3624, and new water heater for 3634. Interior upgrades for 3634 include a new electric range, dishwasher, refrigerator, disposal, and faucet, along with GFCI outlets in the kitchen and bathrooms, new carpet with memory foam pad, custom window shades, and updates to the bathroom and utility area. All doors are re-keyed.
Located on a quiet cul-de-sac, the property is described as close to Chemeketa Community College. The listing notes a history of long-term tenants and a neighborhood with limited traffic.
Additional unit-specific improvements mentioned include a new gas furnace and new gas water heater for 3624, and new water heater for 3634. Interior upgrades for 3634 include a new electric range, dishwasher, refrigerator, disposal, and faucet, along with GFCI outlets in the kitchen and bathrooms, new carpet with memory foam pad, custom window shades, and updates to the bathroom and utility area. All doors are re-keyed.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.9k | $18.36 |
| − Vacancy | −$2.8k | −$1.20 |
| EGI | $40.1k | $17.16 |
| − OpEx | −$12.0k | −$5.15 |
| NOI | $28.1k | $12.01 |
2,336 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$400.8K
$350.7K – $467.6K
NOI $28,056 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$369.1K
$323.0K – $430.6K
NOI $25,837 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$620.2K
$542.7K – $723.6K
NOI $43,416 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained duplex on a cul-de-sac with two garages and fireplaces piped for gas logs in each unit.
Where is this duplex located?
The property is located at 3624 Hermosa Ct NE Salem, OR.
What is the asking price?
The asking price for this property is $545,000.
