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 7, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 10 at 3:06 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
- Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 3
- Standard status
- Active
- APN
- 556138
- Size
- 2,336 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Description
- NEIGHBORLY ADDITION, BLOCK 1, LOT 14, ACRES 0.24
- Tax Annual Amount
- 3716
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1973
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Composition
Listing agent John Zobrist (503) 931-5020
Listing office eXp Realty, LLC 4800 Meadows Rd Ste 300, Salem, OR (888) 814-9613
Listing date Jul 7, 2026
MLS# 716570755
Listing URL
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 well-maintained duplex is set in a cul-de-sac on a quiet street and features two units. The living areas include fireplaces that are piped to accept gas logs, along with spacious sunken living rooms. Recent updates include new paint for both addresses (3624 and 3634), newly cleaned and treated roofs, custom gutter covers, and entry storm doors. Attic spaces are floored with lighting for additional storage.
Both units have practical in-home and garage improvements. Unit 3624 has a two-car garage, new gas furnace, new gas water heater, and gas logs with a key to light, along with new carpet with memory foam pad, updated kitchen and bath details, and re-keyed doors. Unit 3634 has a very deep one-car garage and has new updates including a new water heater, electric range, dishwasher, refrigerator, disposal, and faucet, plus GFCI outlets in the kitchen and bathrooms, updated garage and interior paint, and updated bathroom finishes.
The property is close to Chemeketa Community College and sits on a lot size listed as 0.24 acres.
Both units have practical in-home and garage improvements. Unit 3624 has a two-car garage, new gas furnace, new gas water heater, and gas logs with a key to light, along with new carpet with memory foam pad, updated kitchen and bath details, and re-keyed doors. Unit 3634 has a very deep one-car garage and has new updates including a new water heater, electric range, dishwasher, refrigerator, disposal, and faucet, plus GFCI outlets in the kitchen and bathrooms, updated garage and interior paint, and updated bathroom finishes.
The property is close to Chemeketa Community College and sits on a lot size listed as 0.24 acres.
Key Highlights
- Duplex built in 1973 on a cul‑de‑sac in a quiet neighborhood, with a history of long‑term tenants.
- Living rooms feature fireplaces piped for gas logs, including gas logs with a key to light.
- Garage setup includes one unit with a 2‑car garage and the other with a very deep 1‑car garage.
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 - A maintained duplex in a cul-de-sac with fireplaces and two separate garage configurations for 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.
What are key features of this property?
This property features: Duplex built in 1973 on a cul‑de‑sac in a quiet neighborhood, with a history of long‑term tenants.; Living rooms feature fireplaces piped for gas logs, including gas logs with a key to light.; Garage setup includes one unit with a 2‑car garage and the other with a very deep 1‑car garage.
