380 Owens & 1102 Fairmount St S, Salem, OR 97302
MULTI_FAMILY - Salem, OR
- Added:
- Jul 3, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 6 at 1:06 pm
Property Features for 380 Owens & 1102 Fairmount St S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM2
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Den, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Basement, Bedroom 3, Bathroom 1
- Patio and Porch features
- Patio
- Standard status
- Active
- APN
- 592013
- Size
- 2,294 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4049
Utilities
- Heating system
- Electric (Heating), Natural Gas, Forced Air, Baseboard
Building Details
- Year built
- 1923
- Number of units
- 2
- Flooring type
- Carpet, Laminate, Wood
- Roof type
- Composition
Listing agent GLADYS BLUM (503) 485-1900
Listing office BLUM REAL ESTATE 2035 MADRONA AV SE STE 100, Salem, OR (503) 485-1900
Listing date Jul 3, 2026
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.
HighLights
- 1923 Craftsman home on a corner lot
- Detached garage with a 728 SF, 1‑bedroom, 1‑bath ADU above
- Covered front porch and patio
- Roof is composition shingle; newer roof noted
- Layout includes a den, 4 bedrooms, 2 bathrooms, and a basement
- Heating includes electric, natural gas, forced air, and baseboard; flooring includes carpet, laminate, and wood
Overview
The site is on a corner lot and includes two street addresses listed as 380 Owens and 1102 Fairmount St S. It is described as conveniently located near shopping, dining, and other downtown amenities in Salem, Oregon.
For buyers seeking residential income flexibility, the presence of both a main residence and a detached ADU provides options for owner-occupancy with additional rental income, or dedicated rental use. The combination of older Craftsman character and newer improvements like the roof helps balance charm with basic property upkeep. RM2 zoning is noted for the parcel, supporting residential multifamily use within the RM2 classification.
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 | $42.1k | $18.36 |
| − Vacancy | −$2.8k | −$1.20 |
| EGI | $39.4k | $17.16 |
| − OpEx | −$11.8k | −$5.15 |
| NOI | $27.6k | $12.01 |
Alternative Uses
Current Use by Public Records
Map
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.048163
- Latitude
- 44.93016
