Updated Duplex with Garage
For Sale
$545,000
3624 Hermosa Ct NE, Salem, OR 97305
Multi Family, Salem, OR
Property Size2,336 SF
Lot Size0.24 Acres
Price / SF$233.30
Days on Market97
Property Features for 3624 Hermosa Ct NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 1
Patio and Porch features
Patio
Fireplace
1
Subdivision
Neighborly Addition
Lot features
Cul-de-sac, Lot: 1
View
Territorial
Elementary school
Lamb
Middle school
Adam Stephens
High school
McKay
Directions
Silverton road then north on Hermosa to end of street cul-de-sac
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
Amenities
fireplaces
Building Details
Year built
1973
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Composition
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
JOHN ZOBRIST
(503) 931-5020
Added: Jul 6
Changed: Sep 15
Last Checked: Oct 10 at 2:06PM
MLS# 843267
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 1973 duplex contains 2,336 square feet on a 0.2399-acre lot and includes two residential units with carpet and vinyl flooring, patios, forced-air natural gas heating, and fireplaces prepared for gas logs. Both addresses received interior and exterior improvements, including fresh paint, replacement garage doors, entry storm doors, custom gutter covers, and treated composition roofing. Attic areas are floored and illuminated for additional storage.
The property is located at 3624 Hermosa Ct NE in Salem, within the 97305 ZIP code, and is zoned RL. One residence has a two-car garage, while the other provides a deep one-car garage. Recent work to the units includes updated appliances, plumbing fixtures, flooring, lighting, water heaters, and a gas furnace, with additional bathroom and kitchen improvements at 3634.
The property is located at 3624 Hermosa Ct NE in Salem, within the 97305 ZIP code, and is zoned RL. One residence has a two-car garage, while the other provides a deep one-car garage. Recent work to the units includes updated appliances, plumbing fixtures, flooring, lighting, water heaters, and a gas furnace, with additional bathroom and kitchen improvements at 3634.
Key Highlights
- 2,336‑square‑foot duplex on a 0.2399‑acre lot
- RL zoning with two residential units
- One two‑car garage and one deep one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,056
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$561,120
$561.1K
Cap Rate 7%
$400,800
$400.8K
Cap Rate 9%
$311,733
$311.7K
Market Conditions
NOI Build-Up for 2,336 SF
Gross rent
$42.9K $18.36/SF
− Vacancy
−$2.8K −$1.20/SF
EGI
$40.1K $17.16/SF
− OpEx
−$12.0K −$5.15/SF
NOI
$28.1K $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%
$561,120
Cap Rate 7%
$400,800
Cap Rate 9%
$311,733
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 authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 97305, OR
44,535
Population
15,219
Households
2.9
Avg Household Size
33
Median Age
16%
College-Educated
77%
High-School Grad
47.2 sq mi
ZIP Area
944
Density / Sq Mi
$64,581
Median Household Income
$32,554
Median Earnings
$1,386
Median Rent
$339,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature fireplaces, flexible attic storage, and distinct garage capacity.
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.
What are key features of this property?
This property features: 2,336‑square‑foot duplex on a 0.2399‑acre lot; RL zoning with two residential units; One two‑car garage and one deep one‑car garage
