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    Scio Farm Homestead with Arena Title is generated by Realmo AI

    38591 Gilkey Road, Scio, OR 97374

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    Claim this Listing
    For Sale
    $859,000

    Farm/Estate, Bungalow - Scio, OR

    Type:Farm
    Property size:
    1,288 SF
    Lot size:
    24.16 Acres
    Price / SF:
    $666/SF
    Added:
    Jan 7, 2026
    Days on Market:
    125
    Last Refresh:
    May 12 at 11:06 pm

    Property Features for 38591 Gilkey Road

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    300
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Den, Dining Room, Living Room
    Parking features
    Garage
    Fireplace
    1
    Appliances
    Dishwasher, Refrigerator, Washer
    Standard status
    Active
    APN
    0037305
    Size
    1,288 SF
    Lot size
    24.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2935

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Forced Air, Wood (Heating), Wood Stove
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1930
    Year renovated
    1930
    Floors in Building
    1
    Flooring type
    Carpet, Laminate
    Building materials
    Cedar, Clapboard, Wood Siding
    Roof type
    Asphalt
    Architectural style
    Bungalow

    We can help!

    Listing Contact
    Rich Schaefer

    Listing agent Rich Schaefer

    Listing office Right Price Real Estate Group 520 College Drive NW, Salem, OR

    Listing date Jan 7, 2026

    MLS# 11628616 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 24.16‑acre small farm homestead with agricultural and income‑producing potential, including approximately 1,100 harvestable Christmas trees in 2026.
    • 7,560‑square‑foot livestock barn with indoor arena, horse stalls, and chicken coops.
    • Large 32' x 62' shop on a concrete slab with an office and carpeted gym room.
    • Updated two‑bedroom home with wood stove and landscaped front yard.
    • Commercial greenhouse with electrical service and fans, plus a 30' x 96' structure for equipment storage.
    • RV power hookup with septic access and fiber‑optic high‑speed wireless internet.

    Overview

    Located in a peaceful setting in Scio, Oregon, this well-maintained 24.16-acre small farm homestead offers privacy and rural charm. The property is surrounded by open pasture, mature walnut and fir trees, and abundant wildlife. It features a three-quarter-mile gravel walking trail, suitable for exercise, walking a horse, or enjoying the natural surroundings, as well as a small pond that attracts local wildlife. The updated two-bedroom, one-bath home offers 1,288 square feet of living space with improvements, including a wood stove and a landscaped front yard. Agricultural amenities include a 7,560-square-foot livestock barn with an indoor arena, three horse stalls with room for additional stalls, and two chicken coops built into the barn. There is also a commercial greenhouse with electrical service and fans, and a 30' x 96' structure suited for equipment storage or agricultural operations. A 32' x 62' shop on a concrete slab features an office and a carpeted gym room. Newer, high-quality fencing and a custom entry gate provide functionality. The water well supports residential and agricultural needs, and productive pasture enhances the property's versatility. An RV power hookup is located near the greenhouse and includes septic access and fiber-optic-supported high-speed wireless internet. Designated agricultural land offers income potential, including approximately 1,100 Christmas trees scheduled to be harvestable in 2026. This acreage delivers possibilities for a working farm, equestrian property, or private homestead.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Plant Life Farm/Hemplife ... Food Processing Plant Elephantastic Garlic Food Processing Plant

    Suggested Use

    (Bike/Boat/Book/etc) Store Butcher

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scio
    County
    Linn
    State
    Oregon
    Longitude
    -122.869856
    Latitude
    44.690469

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    FAQs

    What type of property is this?
    Farm - 24.16-acre Scio farm with barn, arena, and updated home.
    Where is this farm located?
    The property is located at 38591 Gilkey Road Scio, OR.
    What is the asking price?
    The asking price for this property is $859,000.
    What are key features of this property?
    This property features: 24.16‑acre small farm homestead with agricultural and income‑producing potential, including approximately 1,100 harvestable Christmas trees in 2026.; **7,560‑square‑foot livestock barn with indoor arena, horse stalls, and chicken coops.**; Large 32' x 62' shop on a concrete slab with an office and carpeted gym room.
    (971) 306-9036
    We can help!
    Listing Contact
    Rich Schaefer
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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