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  • Listed by: Elwood Real Estate LLC • Ahleesha T Elwood
    $1,200,000

    400 S McArthur St, Salem, MO 65560

    2beds
    2baths
    1,158sqft
    : 
    $7,462/mo
    Get pre-qualified
    Multi Family, Apartment
    Built in 2011
    -- sqft lot
    $-- Zestimate®
    $1,036/sqft
    $-- HOA

    What's special

    Networked for wireless internet
    Turnkey Investment Opportunity – 4 Duplexes (8 Units) in Prime Salem Location Excellent opportunity to own four duplexes totaling eight 1,100 sq ft units, each offering 2 bedrooms, 2 bathrooms, and a 1-car garage. Ideally located in the heart of Salem on a high-traffic road, this property combines strong visibility with consistent demand. Four units have road frontage on S. McArthur Street, and four units have road frontage on S. Henderson Street, all sharing a common entrance off Dent Street, providing excellent access and circulation. Currently, four units are occupied by long-term tenants, while the remaining four units operate as successful short-term rentals with Super-host status on Airbnb. These short-term rentals enjoy strong, repeat annual occupancy from Road Rally participants and spectators, as well as fishermen, hunters, hikers, kayakers, and river adventurers. The property is also frequently utilized by contractors working with nearby mines and other large employers, further strengthening year-round demand. All units are equipped with refrigerators, stove, dishwasher, microwave with exhaust fan, and washer/dryer hookups in the laundry room. The Airbnb units are fully furnished, include washers and dryers, and are networked for wireless internet, allowing for seamless short-term rental operations. The location is exceptional—close to shopping, dining, and everyday necessities. The S. McArthur Street units provide front-row views of Salem’s holiday parades, creating added appeal for short-term guests. This central location makes the property ideal for Airbnb/VRBO guests and long-term tenants alike. Low-maintenance and income-producing, this property is a rare opportunity to own a diversified, turnkey investment in a high-demand area.
    129 days
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    97
    |
    1
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    Zillow last checked:

    Listing updated:

    Listed by:

    Ahleesha T Elwood 573-247-1665,

    Elwood Real Estate LLC

    Source: MARIS,MLS#: 26015177MLS LogoOriginating MLS: South Central Board of REALTORS

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 2
      Heating
      • Electric, Forced Air, Heat Pump
      Cooling
      • Central Air, Electric
      Appliances
      • Included: Dishwasher, Disposal, Dryer, Exhaust Fan, Microwave, Electric Range, Refrigerator, Washer/Dryer, Electric Water Heater
      • Laundry: Electric Dryer Hookup, Inside, Laundry Room, In Unit, Washer Hookup
      Features
      • Flooring: Carpet, Concrete, Laminate, Luxury Vinyl
      • Basement: None
      • Has fireplace: No
      Interior area
      • Total structure area: 1,158
      • Total interior livable area: 1,158 sqft
      • Finished area above ground: 1,158

      Property

      Parking
      • Total spaces: 1
      • Parking features: Driveway, Garage, Garage Door Opener, Off Street
      • Attached garage spaces: 1
      • Has uncovered spaces: Yes
      Features
      • Levels: One
      • Fencing: None
      Lot
      • Size: 0.85 Acres
      • Features: City Lot, Corner Lot, Front Yard
      Details
      • Parcel number: 086.013454001.000
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Apartment Style
      • Property subtype: Multi Family, Apartment
      Materials
      • Vinyl Siding
      • Foundation: Slab
      • Roof: Architectural Shingle
      Condition
      • Year built: 2011

      Utilities & green energy

      • Electric: Single Phase, 220 Volts
      • Water: Public
      • Utilities for property: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected

      Community & HOA

      Community
      • Subdivision: Dents South Add
      HOA
      • Has HOA: No
      Location
      • Region: Salem

      Financial & listing details

      • Price per square foot: $1,036/sqft
      • Tax assessed value: $539,100
      • Annual tax amount: $8,582
      • Date on market: 3/16/2026
      • Cumulative days on market: 129 days
      • Listing terms: Cash,Conventional
      • Inclusions: Other - Contact Agent, Personal Property
      • Ownership: Private
      • Electric utility on property: Yes
      • Road surface type: Asphalt, Gravel

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        3/16/2026Listed for sale$1,200,000+84.6%$1,036/sqft
        Source: MARIS #26015177 Report a problem
        7/1/2020Listing removed$650,000$561/sqft
        Source: Elwood Real Estate LLC #18095717 Report a problem
        3/3/2018Listed for sale$650,000$561/sqft
        Source: Elwood Real Estate LLC #18095717 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$8,582 +4.3%$137,380
        2024$8,230 +0.3%$137,380
        2023$8,207 +0%$137,380
        2022$8,206 $137,380 +34.2%
        2021-- $102,400
        2020-- $102,400 +5%
        2017-- $97,480 +0.6%
        2016-- $96,930
        2015-- $96,930
        2014-- $96,930
        2013-- $96,930
        2011-- --
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 65560

        Getting around

        57 / 100
        Somewhat Walkable
        43 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Salem Upper Elem.
        • Middle: Salem Jr. High
        • High: Salem Sr. High

        Source: MARIS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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