Single-Level
New
For Sale
$450,000
4196 47TH Ave NE, Salem, OR 97305
MultiFamily, Salem, OR
Property Size1,763 SF
Lot Size0.17 Acres
Price / SF$255.25
Days on Market3
Property Features for 4196 47TH Ave NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2
Elementary school
Yoshikai
Middle school
Stephens
High school
McKay
Directions
From Silverton Rd, N on 48th, W on Herrin, N on 47th to property
Subdivision
_176
Standard status
Active
APN
558261
Size
1,763 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
PENTICTON ESTATES, BLOCK 2, LOT 1, ACRES 0.174
Tax Annual Amount
3154
Legal Description
PENTICTON ESTATES, BLOCK 2, LOT 1, ACRES 0.174
Utilities
Heating system
Forced Air
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Joey McNamara
(360) 773-0000
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 10 at 3:06AM
MLS# 581499696
Copyright © 2026 Regional Multiple Listing Services. 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 1,763-square-foot duplex contains two single-level residences, each with two bedrooms and one bathroom. Both units have full kitchens equipped with a dishwasher, refrigerator, electric range and garbage disposal. Laundry hookups, fenced backyards and attached one-car garages serve each residence. Kitchen and eating areas have vinyl flooring, while carpet covers the living rooms and bedrooms. The property was built in 1974 and has forced-air heating and a composition roof.
The duplex occupies a 0.17-acre corner lot in Salem, Oregon. Chemeketa Community College, schools and shopping are nearby, with access to I-5 also noted. The property is zoned RS.
The duplex occupies a 0.17-acre corner lot in Salem, Oregon. Chemeketa Community College, schools and shopping are nearby, with access to I-5 also noted. The property is zoned RS.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,763 square feet on a 0.17‑acre corner lot
- Each unit has an attached single‑car garage and fenced backyard
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
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 - Both residences include full kitchens, laundry hookups, fenced yards and attached garages.
Where is this duplex located?
The property is located at 4196 47TH Ave 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 units, each with 2 bedrooms and 1 bathroom; 1,763 square feet on a 0.17‑acre corner lot; Each unit has an attached single‑car garage and fenced backyard
