Updated Two-Unit
For Sale
$565,000
4981 - 4985 Fontana St SE, Salem, OR 97317
Corner-lot duplex with two-car garages, one vacant unit, and a second unit currently occupied.
Property Size2,212 SF
Price / SF$255.42
Days on Market145
Property Features for 4981 - 4985 Fontana St SE
General Information
Standard status
Active
Size
2,212 SF
Property subtype
Duplex
Occupancy
50%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
Natural Gas
Forced Air
Disposal
Dishwasher
Gas Water Heater
Refrigerator
Electric Range
Range Included
Deck, Composition
Building Details
Year Built
2003
Buildings
1
Stories
1
Listing Agency:
SHELBY REAL ESTATE P.C.
Listed By:
DON SHELBY · License #200612121
(503) 877-7902
Source:
Kw
Added: May 27
Changed: Oct 16
Last Checked: Oct 16 at 8:09AM
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 SHELBY REAL ESTATE P.C.
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Investment Insights
Based on property information with market context.
Built in 2003, this 2,212-square-foot, single-story duplex contains two three-bedroom, two-bath units, each with a double-car garage. The property occupies a corner lot on a quiet non-throughway street and includes decks with composition exteriors.
One unit is vacant and has been refreshed with LVP flooring, quartz kitchen countertops, and new paint. The other unit is occupied. Interior features include forced-air heating, natural gas, a gas water heater, dishwasher, disposal, refrigerator, and electric range. The property is located at 4981 - 4985 Fontana St SE in Salem, Oregon 97317.
One unit is vacant and has been refreshed with LVP flooring, quartz kitchen countertops, and new paint. The other unit is occupied. Interior features include forced-air heating, natural gas, a gas water heater, dishwasher, disposal, refrigerator, and electric range. The property is located at 4981 - 4985 Fontana St SE in Salem, Oregon 97317.
Key Highlights
- 2,212 sq ft single‑story duplex built in 2003
- Two units, each with 3 bedrooms, 2 full baths, and a double car garage
- Corner lot on a quiet, non‑throughway street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,567
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,340
$531.3K
Cap Rate 7%
$379,529
$379.5K
Cap Rate 9%
$295,189
$295.2K
Market Conditions
NOI Build-Up for 2,212 SF
Gross rent
$40.6K $18.36/SF
− Vacancy
−$2.7K −$1.20/SF
EGI
$38.0K $17.16/SF
− OpEx
−$11.4K −$5.15/SF
NOI
$26.6K $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%
$531,340
Cap Rate 7%
$379,529
Cap Rate 9%
$295,189
Alternative Uses
Best Use
Multifamily LT 5
$379.5K
$332.1K – $442.8K
NOI $26,567 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$349.5K
$305.8K – $407.8K
NOI $24,465 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$587.3K
$513.9K – $685.2K
NOI $41,111 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
99
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot duplex with two-car garages, one vacant unit, and a second unit currently occupied.
Where is this duplex located?
The property is located at 4981 - 4985 Fontana St SE Salem, OR.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,212 sq ft single‑story duplex built in 2003; Two units, each with 3 bedrooms, 2 full baths, and a double car garage; Corner lot on a quiet, non‑throughway street
