New search
Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Apartment buildings
653 Fir Gdns NW St, Salem, OR 97304-4324
Trust Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-0804544
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1945
Total area
3,104 SF
Lot
0.49 ac (21,344 SF)
Zoning code
RS
APN
07320-DD-01501
UPID
US71-0804544
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$530k
Comparable Approach
Comparable
$489k
Blend (final)
Blend
$550k
Owner & transaction history
Powell Trust · 5 yrs held
Powell Trust
since 2020
Last sale
$590,000
7 recorded transactions
Zoning & alternative use
RS · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$860,000
+78.5%
Commercial (general)
$815,000
+68.6%
Retail stores
$765,000
+58.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$570,000
6.5%
$530,000
7%
$490,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$485,000
Current use
OFFICE BUILDING
$860,000
Change: +79% · Conversion: Moderate
COMMERCIAL (GENERAL)
$815,000
Change: +69% · Conversion: Moderate
RETAIL STORES
$765,000
Change: +58% · Conversion: Difficult
WAREHOUSE, STORAGE
$605,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $590k (Dec 29 2020)
Last sale anchor
$590k
Dec 29 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$177 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,246
Tax year 2023
Assessed value
$225,280
Assessed 2023
Previous assessed
$218,720
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$78,630
Assessed improvement
$146,650
Land market value
$252,600
Improvement market value
$404,870
Total market value
$657,470
Applied tax rate
3,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1945
Heating
NONE
Buildings
5
Total area
3,104 SF
Lot
0.49 ac (21,344 SF)
Zoning code
RS
APN
07320-DD-01501
UPID
US71-0804544
Jurisdiction
POLK
Zoning & alternative use
RS · Salem, OR
Zoning RS · permitted uses
RS · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$485,000
OFFICE BUILDING
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$815,000
RETAIL STORES
Est. value
$765,000
WAREHOUSE, STORAGE
Est. value
$605,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1945
Heating
NONE
Buildings
5
Lot
0.49 ac
Current owner
From public records · entity-resolved
Powell Trust
Trust
Mailing address
PO BOX 5513, SALEM, OR 97304-0513
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2020
$590,000
Powell Trust
David Beccue
Warranty Deed
—
Oct 10, 2018
—
David Beccue
Bob Loblaw LLC
Warranty Deed
—
Dec 8, 2016
$385,000
Bob Loblaw LLC
Patrick Cotter Real Estate LLC
Grant Deed
$269,000 · Reserve Neighbors LLC
Apr 30, 2003
$215,000
Patrick Cotter Real Estate LLC
Jensen,douglas B & Cathleen C
Grant Deed
$205,750 · Douglas B & Cathleen C Jensen
Sep 18, 1996
$165,000
Douglas B Jensen
Kostenborder,betty
Grant Deed
—
—
—
Patrick Cotter Real Estate LLC
—
Deed Of Trust
related
$150,000 · Key Bank NA
—
—
Patrick Cotter Real Estate LLC
—
Deed Of Trust
related
$145,000 · Key Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 653 Fir Gdns NW St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
