Duplex with Attached
New
For Sale
$450,000
4196 47th Av NE, Salem, OR 97305
Two matching residences each provide private fenced yards, full kitchens, and laundry hookups.
Property Size1,763 SF
Price / SF$255.25
Days on Market2
Property Features for 4196 47th Av NE
General Information
Standard status
Active
Size
1,763 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
dishwasher
electric range
garbage disposal
washer/dryer hookups
fenced backyards
Building Details
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Homesmart Realty Group - Monmouth
(503) 949-2411
Listed By:
Matin Real Estate
(503) 208-8406
Source:
Portlandrealestate
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Homesmart Realty Group - Monmouth
Investment Insights
Based on property information with market context.
This single-level duplex contains 1,763 SF and was built in 1974. Each of its two units has two bedrooms, one bathroom, a full kitchen with a dishwasher, electric range, and garbage disposal, plus washer and dryer hookups. Kitchen and dining areas have vinyl flooring, while carpet is installed in the living rooms and bedrooms. Each residence also has an attached one-car garage and a fenced backyard. The exterior has been repainted recently.
The property occupies a corner lot in Salem, near Chemeketa Community College, schools, shopping, and I-5 access.
The property occupies a corner lot in Salem, near Chemeketa Community College, schools, shopping, and I-5 access.
Key Highlights
- Two‑unit duplex with 1,763 SF, built in 1974
- Each unit has 2 bedrooms and 1 bathroom
- Attached single‑car garage and fenced backyard for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,174
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,480
$423.5K
Cap Rate 7%
$302,486
$302.5K
Cap Rate 9%
$235,267
$235.3K
Market Conditions
NOI Build-Up for 1,763 SF
Gross rent
$32.4K $18.36/SF
− Vacancy
−$2.1K −$1.20/SF
EGI
$30.2K $17.16/SF
− OpEx
−$9.1K −$5.15/SF
NOI
$21.2K $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%
$423,480
Cap Rate 7%
$302,486
Cap Rate 9%
$235,267
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $352.9K
NOI $21,174 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$278.6K
$243.7K – $325.0K
NOI $19,499 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$468.1K
$409.6K – $546.1K
NOI $32,766 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 97305, OR
44,535
Population
15,219
Households
2.9
Avg Household Size
33
Median Age
16%
College-Educated
77%
High-School Grad
47.2 sq mi
ZIP Area
944
Density / Sq Mi
$64,581
Median Household Income
$32,554
Median Earnings
$1,386
Median Rent
$339,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences each provide private fenced yards, full kitchens, and laundry hookups.
Where is this duplex located?
The property is located at 4196 47th Av NE 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‑unit duplex with 1,763 SF, built in 1974; Each unit has 2 bedrooms and 1 bathroom; Attached single‑car garage and fenced backyard for each unit
