Duplex with Detached
For Sale
$445,000
380 Owens & 1102 Fairmount St S, Salem, OR 97302
Multi Family, Salem, OR
Property Size2,294 SF
Lot Size0.17 Acres
Price / SF$193.98
Days on Market96
Property Features for 380 Owens & 1102 Fairmount St S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Den, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Basement, Bedroom 4
Patio and Porch features
Patio
Lot features
Irregular, Lot: F R8
Elementary school
McKinley
Middle school
Leslie
High school
South Salem
Directions
Commercial St. to W on Owens, Corner of Owens & Fairmount
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), Forced Air, Natural Gas, Baseboard
Amenities
covered front porch
spacious yard area
Building Details
Year built
1923
Number of units
2
Flooring type
Laminate, Wood, Carpet
Roof type
Composition
Listing Agency:
BLUM REAL ESTATE
Listed By:
GLADYS BLUM
(503) 485-1900
Added: Jul 3
Changed: Sep 13
Last Checked: Oct 6 at 5:06AM
MLS# 843018
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 RM2-zoned duplex combines a 1923 Craftsman residence with a detached garage and an upper-level accessory dwelling unit. The ADU provides 728 square feet with one bedroom and one bathroom. The 2,294-square-foot property also includes two main-level bedrooms, a bonus room, an additional upper-level room, a covered front porch, patio, spacious yard area, and a composition roof. Interior finishes include wood, laminate, and carpet flooring, with electric, natural gas, forced-air, and baseboard heating systems represented in the property features.
Set on a 0.17-acre corner lot in Salem, the property is positioned near shopping, dining, and downtown amenities. The configuration offers a primary residence alongside separate detached living space, with the garage located beneath the ADU.
Set on a 0.17-acre corner lot in Salem, the property is positioned near shopping, dining, and downtown amenities. The configuration offers a primary residence alongside separate detached living space, with the garage located beneath the ADU.
Key Highlights
- Detached garage with 728 SF, 1‑bedroom, 1‑bath ADU above
- 2,294‑square‑foot property on a 0.17‑acre corner lot
- 1923 Craftsman main residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,551
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,020
$551.0K
Cap Rate 7%
$393,586
$393.6K
Cap Rate 9%
$306,122
$306.1K
Market Conditions
NOI Build-Up for 2,294 SF
Gross rent
$42.1K $18.36/SF
− Vacancy
−$2.8K −$1.20/SF
EGI
$39.4K $17.16/SF
− OpEx
−$11.8K −$5.15/SF
NOI
$27.6K $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%
$551,020
Cap Rate 7%
$393,586
Cap Rate 9%
$306,122
Alternative Uses
Best Use
Multifamily LT 5
$393.6K
$344.4K – $459.2K
NOI $27,551 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$362.5K
$317.2K – $422.9K
NOI $25,372 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$609.1K
$532.9K – $710.6K
NOI $42,635 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
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 - Corner-lot income property with a Craftsman main residence, detached garage, and separate living quarters above.
Where is this duplex located?
The property is located at 380 Owens & 1102 Fairmount St S Salem, OR.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Detached garage with 728 SF, 1‑bedroom, 1‑bath ADU above; 2,294‑square‑foot property on a 0.17‑acre corner lot; 1923 Craftsman main residence
