Outstanding Residential Development Opportunity located adjacent to the newly developed Misty Meadows development. The sale includes an assemblage of two separate tax parcels (R400792-2.80ac bare land/R267146-2.80ac. residence, shop & barn). Residence is +/- 2,873/SF and Shop is +/- 1920/SF. The property does have the potential to develop rental income while going through the approval process. PLEASE DO NOT DISTURB OWNER. See addt'l details attached. Buyer responsible for completing due-diligence.
Sold for $1,250,000
Listed by: Coldwell Bnkr/Commercial Div • SHADYA JONES • Contact: 503-884-6281
Bought with: Exp Realty, Llc
$1,250,000
2540 Michigan City Ln NW, Salem, OR 97304
4beds
2,873sqft
Single Family Residence
Built in 1980
4.8 Acres Lot
$1,253,800 Zestimate®
$435/sqft
$3,380 Estimated rent
Home value
$1,253,800
$1.13M - $1.39M
$3,380/mo
Zestimate® history
Owner options
List your home for rent
$3,380/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$3,380/mo
Rent Zestimate®
Refinance and save
$6,118/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$6,118/mo
Est. payment
Explore your selling options
Work with a Zillow partner agent
Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.
Get startedList with your own agent
Get your home in front of millions of buyers by listing it on Zillow.
Learn how to do itSell it yourself
Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).
List your homeWhat's special
Zillow last checked:
Listing updated:
Listed by:
SHADYA JONES Direc:503-884-6281,
Coldwell Bnkr/Commercial Div
Bought with:
LIZA REYNA- SKIPPER
Exp Realty, Llc
Source: WVMLS,MLS#: 824682
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
- Main level bathrooms: 5
Primary bedroom
- Level: Upper
Bedroom 2
- Level: Upper
Bedroom 3
- Level: Upper
Bedroom 4
- Level: Upper
Dining room
- Features: Formal
- Level: Main
Family room
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Heating
- Heat Pump
Appliances
- Included: Dishwasher, Electric Range, Electric Water Heater
- Laundry: Main Level
Features
- High Speed Internet
- Flooring: Carpet, Vinyl
- Has fireplace: Yes
- Fireplace features: Family Room
Interior area
- Total structure area: 2,873
- Total interior livable area: 2,873 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached
- Attached garage spaces: 2
Features
- Levels: Two
- Stories: 2
- Patio & porch: Patio
- Fencing: Partial
- Has view: Yes
- View description: Mountain(s), Territorial
Lot
- Size: 4.8 Acres
Details
- Additional structures: Barn(s), Workshop, Shed(s), RV/Boat Storage
- Parcel number: 400792
- Zoning: SR
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Foundation: Slab
- Roof: Composition
Condition
- New construction: No
- Year built: 1980
Utilities & green energy
- Electric: 1/Main
- Sewer: Septic Tank
- Water: Well
Community & HOA
HOA
- Has HOA: No
Location
- Region: Salem
Financial & listing details
- Price per square foot: $435/sqft
- Tax assessed value: $893,660
- Annual tax amount: $5,292
- Price range: $1.3M - $1.3M
- Date on market: 1/22/2025
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 7/15/2025 | Sold | $1,250,000-14.4%$435/sqft |
Source:  WVMLS #824682 Report a problem | ||
| 5/24/2025 | Pending sale | $1,460,000$508/sqft |
Source: WVMLS #824682 Report a problem | ||
| 1/22/2025 | Listed for sale | $1,460,000$508/sqft |
Source: WVMLS #824682 Report a problem | ||
| 12/8/2024 | Listing removed | $1,460,000$508/sqft |
Source: WVMLS #790617 Report a problem | ||
| 4/4/2022 | Listed for sale | $1,460,000$508/sqft |
Source: WVMLS #790617 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,292 +3% | $417,822 +3% |
| 2024 | $5,137 +2.5% | $405,656 +3% |
| 2023 | $5,013 +5.2% | $393,841 +5.1% |
| 2022 | $4,768 +2.7% | $374,897 +3% |
| 2021 | $4,644 +2.8% | $363,984 +3% |
| 2020 | $4,516 +3.7% | $353,392 +3% |
| 2019 | $4,354 | $343,101 +3% |
| 2018 | $4,354 +2% | $333,111 +3% |
| 2017 | $4,270 +13.9% | $323,412 +3% |
| 2016 | $3,749 +2% | $313,994 +3% |
| 2015 | $3,674 -2.3% | $304,856 +3% |
| 2014 | $3,760 +14.1% | $295,980 +6.8% |
| 2013 | $3,295 -4% | $277,074 -3.6% |
| 2012 | $3,432 +3.1% | $287,339 +0.8% |
| 2011 | $3,330 -0.1% | $284,924 +1.6% |
| 2010 | $3,335 +0.8% | $280,430 +3% |
| 2009 | $3,310 +4.2% | $272,267 +3% |
| 2008 | $3,176 +3.1% | $264,345 +3% |
| 2007 | $3,081 +6.1% | $256,653 +3% |
| 2006 | $2,905 +1.2% | $249,182 +3% |
| 2005 | $2,872 -1.3% | $241,932 +3% |
| 2004 | $2,911 +14.5% | $234,892 +6.1% |
| 2002 | $2,543 -4.2% | $221,414 +0.3% |
| 2001 | $2,655 +3.9% | $220,730 +3% |
| 2000 | $2,555 | $214,310 |
Find assessor info on the county website
Neighborhood: 97304
Nearby homes
- $539,9954 bd3 ba2.3k sqft3309 Misty Meadows St, Salem, OR 97304Sold
- $481,0165 bd3 ba1.9k sqft2334 Tina Ave NW, Salem, OR 97304Sold
- $561,9955 bd3 ba2.5k sqft2331 Misty Glen Ave NW, Salem, OR 97304Sold
- $550,9255 bd3 ba2.5k sqft2326 Tina Ave NW, Salem, OR 97304Sold
- $474,9955 bd3 ba1.9k sqft2323 Misty Glen Ave NW, Salem, OR 97304Sold
- $494,9955 bd3 ba1.9k sqft2318 Tina Ave NW, Salem, OR 97304Sold
- $469,9955 bd3 ba1.9k sqft2338 Misty Glen Ave NW, Salem, OR 97304Sold
- $531,6454 bd3 ba2.3k sqft2315 Misty Glen Ave NW, Salem, OR 97304Sold
Nearby schools
GreatSchools rating
- 7/10Brush College Elementary SchoolGrades: K-5Distance: 0.8 mi
- 5/10Straub Middle SchoolGrades: 6-8Distance: 1.5 mi
- 6/10West Salem High SchoolGrades: 9-12Distance: 1.6 mi
Schools provided by the listing agent
- Elementary: Brush College
- Middle: Straub
- High: West Salem
Source: WVMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,253,800
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,253,800
- Oregon
- Polk County
- Salem
- 97304
- 2540 Michigan City Ln NW
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Salem Topics
