Duplex with Private
New
For Sale
$450,000
4023 Campbell & 4025 Dr SE, Salem, OR 97317
Multi Family, Salem, OR
Property Size1,520 SF
Lot Size0.18 Acres
Price / SF$296.05
Days on Market1
Property Features for 4023 Campbell & 4025 Dr SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 1
Patio and Porch features
Patio
Subdivision
Marcie Gardens Annex No.2
Lot features
Cul-de-sac, Lot: 082 W06 A B0
Middle school
Houck
High school
North Salem
Standard status
Active
APN
R54260
Size
1,520 SF
Lot size
0.18 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3339
Utilities
Heating system
Wall Furnace, Electric (Heating), Ceiling, Radiant Ceiling, Radiant
Building Details
Year built
1970
Number of units
2
Flooring type
Vinyl, Carpet, Laminate
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
AUSTIN NATIVIDAD · License #201231731
(503) 428-2400
Added: Oct 29
Last Checked: Oct 29 at 6:06PM
MLS# 846974
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.
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Investment Insights
Based on property information with market context.
This 1,520-square-foot duplex contains two residences, each with a two-bedroom, one-bathroom layout and a garage. Separate backyard areas serve the units, and a patio is among the property’s outdoor features. The building dates to 1970 and sits on a 0.18-acre parcel in Salem, Oregon.
The property is zoned RM-2 and is currently occupied by tenants.
The property is zoned RM-2 and is currently occupied by tenants.
Key Highlights
- Two residences, each configured with 2 bedrooms and 1 bathroom
- 1,520 square feet on a 0.18‑acre parcel
- A garage and separate backyard area for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,255
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,100
$365.1K
Cap Rate 7%
$260,786
$260.8K
Cap Rate 9%
$202,833
$202.8K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$27.9K $18.36/SF
− Vacancy
−$1.8K −$1.20/SF
EGI
$26.1K $17.16/SF
− OpEx
−$7.8K −$5.15/SF
NOI
$18.3K $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%
$365,100
Cap Rate 7%
$260,786
Cap Rate 9%
$202,833
Alternative Uses
Best Use
Multifamily LT 5
$260.8K
$228.2K – $304.3K
NOI $18,255 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$240.2K
$210.2K – $280.2K
NOI $16,812 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$403.6K
$353.1K – $470.8K
NOI $28,250 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
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Business Placement
Demographics for 97317, OR
25,852
Population
9,024
Households
2.9
Avg Household Size
38
Median Age
22%
College-Educated
86%
High-School Grad
55.2 sq mi
ZIP Area
468
Density / Sq Mi
$81,208
Median Household Income
$39,794
Median Earnings
$1,370
Median Rent
$382,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, one bathroom, and its own garage.
Where is this duplex located?
The property is located at 4023 Campbell & 4025 Dr SE Salem, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two residences, each configured with 2 bedrooms and 1 bathroom; 1,520 square feet on a 0.18‑acre parcel; A garage and separate backyard area for each unit
