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For sale
Duplexes
OR
Salem
97317
4541-4551 Chippewa Ct SE

Well-Kept Duplex in SE Salem

4541-4551 Chippewa Ct SE, Salem, OR 97317

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Duplex in SE Salem ideal for owner-occupants or investors.

Type:Multifamily

Property size:

2,130 SF

Price / SF:

$227/SF

HighLights

Rare 3 bed, 1 bath floor plan in each unit (1,065 SF).
One unit renovated in 2025 with LVP flooring, carpet, countertops, appliances, plus updated plumbing and electrical fixtures.
Newer roof, exterior paint, and fencing.
Ideal for owner‑occupants or investors.
Each unit has a 1‑car garage and washer/dryer hookups.
Second unit has stable long‑term tenants.

We can help!

Contact an agent

JORDAN SPARKS

Learn more

For Sale

Contact for pricing

Duplex in SE Salem ideal for owner-occupants or investors.

Type:Multifamily

Property size:

2,130 SF

Price / SF:

$227/SF

Added:: Mar 6, 2026
Days on Market:: 119
Last Refresh:: Mar 16 at 3:07 pm

Property Features for 4541-4551 Chippewa Ct SE

General Information

Standard status: Active
Size: 2,130 SF
Property subtype: Multifamily

Building Details

Year Built: 1975

We can help!

Contact an agent

JORDAN SPARKS

Listing office SMI Real Estate

Listing date Mar 6, 2026

Source Crexi

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 SMI Real Estate

HighLights

Rare 3 bed, 1 bath floor plan in each unit (1,065 SF).
One unit renovated in 2025 with LVP flooring, carpet, countertops, appliances, plus updated plumbing and electrical fixtures.
Newer roof, exterior paint, and fencing.
Ideal for owner‑occupants or investors.
Each unit has a 1‑car garage and washer/dryer hookups.
Second unit has stable long‑term tenants.

Overview

This well-kept duplex in SE Salem is suitable for both owner-occupants and investors. Each of the two units features a 3-bed, 1-bath layout with 1,065 square feet of living space, as well as a one-car garage and washer/dryer hookups. Recent updates include a newer roof, exterior paint, and fencing. One of the units was renovated in 2025 with LVP flooring, carpet, countertops, appliances, and updated plumbing and electrical fixtures. The second unit has long-term tenants. The owner currently covers water, sewer, and garbage expenses. The property can be purchased individually or as a package with the neighboring duplex. The seller is a Licensed Real Estate Broker in the State of Oregon. Showings are available with an accepted offer to purchase. The total property size is 2,130 square feet.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$39.1k	$18.36
− Vacancy	−$2.6k	−$1.20
EGI	$36.5k	$17.16
− OpEx	−$11.0k	−$5.15
NOI	$25.6k	$12.01

2,130 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$365.5K

$319.8K – $426.4K (±1% cap)

NOI $25,582 @ 7.0% cap · market cap 5.27%

Second Best

Apartment 5plus

$336.5K

$294.5K – $392.6K (±1% cap)

NOI $23,558 @ 7.0% cap · market cap 4.86%

Theoretical Best

Office A

$565.5K

$494.8K – $659.8K (±1% cap)

NOI $39,587 @ 7.0% cap · market cap 8.16%

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

Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -122.96847
Latitude: 44.917896

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For sale
Duplexes
OR
Salem
97317
4541-4551 Chippewa Ct SE

What type of property is this?

Duplex - Duplex in SE Salem ideal for owner-occupants or investors.

Where is this duplex located?

The property is located at 4541-4551 Chippewa Ct SE Salem, OR.

What is the asking price?

The asking price for this property is $485,000.

What are key features of this property?

This property features: Rare 3 bed, 1 bath floor plan in each unit (1,065 SF).; One unit renovated in 2025 with LVP flooring, carpet, countertops, appliances, plus updated plumbing and electrical fixtures.; Newer roof, exterior paint, and fencing.