Two-Cottage Duplex with Full
For Sale
$375,900
802 NE Cottage St, Salem, OR 97301
Duplex offering two cottages, each with its own full basement for storage or flexible use.
Days on Market25
Property Features for 802 NE Cottage St
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Building Size
1,230 SF
Year Built
1925
Listing Agency:
BST Realty LLC
(503) 932-5833
Listed By:
Jackie Zurbrugg
(503) 932-5833
Source:
Allprofessionalsre
Added: Jul 10
Changed: Jul 28
Last Checked: Aug 2 at 12:53PM
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 BST Realty LLC
Investment Insights
Based on property information with market context.
This for-sale duplex features two cottages, each with its own full basement. The separate basements provide additional space for storage and potential flex use while keeping each cottage as a distinct home.
The property is situated on the banks of Mill Creek, offering a residential income setup that can support multiple living arrangements.
With two cottages on one duplex-style property and full basements included, the layout is well-suited for an investor seeking rental income or for buyers looking for multi-generational living options.
The property is situated on the banks of Mill Creek, offering a residential income setup that can support multiple living arrangements.
With two cottages on one duplex-style property and full basements included, the layout is well-suited for an investor seeking rental income or for buyers looking for multi-generational living options.
Key Highlights
- Duplex with two cottages
- Each cottage includes its own full basement for storage or flexible use
- Year built: 1925
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.6k | $18.36 |
| − Vacancy | −$1.5k | −$1.20 |
| EGI | $21.1k | $17.16 |
| − OpEx | −$6.3k | −$5.15 |
| NOI | $14.8k | $12.01 |
1,230 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$211.0K
$184.7K – $246.2K
NOI $14,773 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$194.3K
$170.1K – $226.7K
NOI $13,604 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$326.6K
$285.8K – $381.0K
NOI $22,860 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering two cottages, each with its own full basement for storage or flexible use.
Where is this duplex located?
The property is located at 802 NE Cottage St Salem, OR.
What is the asking price?
The asking price for this property is $375,900.
What are key features of this property?
This property features: Duplex with two cottages; Each cottage includes its own full basement for storage or flexible use; Year built: 1925
