Excellent investment property with strong occupancy record and CAP rate. Great neighborhood and location in south Salem, convenient access to Commercial St. or Liberty Rd and I-5. Very clean and well maintained. Each single-level unit has spacious fully fenced yard, off-street parking w/attached garage. Possible low down FHA/VA financing w/owner occupancy of vacant unit supplemented by a great rental rate and revenue from long-term tenant in second unit. High tenant demand in queue for the next investor.
Sold for $450,000
Listed by: Windermere Willamette Vly/Albany
Bought with: Realty One Group Willamette Valley Stayton
$450,000
427 Madrona Ave S, Salem, OR 97302
4beds
2baths
1,728sqft
Duplex
Built in 1977
-- sqft lot
$486,200 Zestimate®
$260/sqft
$1,712 Estimated rent
Home value
$486,200
$462,000 - $511,000
$1,712/mo
Zestimate® history
Owner options
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$1,712/mo
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$2,206/mo
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$2,206/mo
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List your homeWhat's special
Great neighborhoodSpacious fully fenced yard
Zillow last checked:
Listing updated:
Listed by:
GERALD FURGALA Cell:281-701-6689,
Windermere Willamette Vly/Albany
Bought with:
BRENDA BONEBRAKE
Realty One Group Willamette Valley Stayton
Source: WVMLS,MLS#: 813175
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
Dining room
- Features: Area (Combination)
Heating
- Electric, Forced Air
Appliances
- Included: Dishwasher, Disposal, Electric Range, Range Included, Electric Water Heater, Refrigerator
- Laundry: W/D Hookup
Features
- Flooring: Carpet, Vinyl
- Has fireplace: Yes
- Fireplace features: Living Room
Interior area
- Total structure area: 1,728
- Total interior livable area: 1,728 sqft
Property
Parking
- Parking features: Garage
Features
- Exterior features: Beige
- Fencing: Fenced
- Has view: Yes
- View description: Territorial
Lot
- Size: 8,556 sqft
- Features: Dimension Above, Landscaped
Details
- Parcel number: 572770
- Zoning: RM2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Wood Siding, Lap Siding
- Foundation: Continuous
- Roof: Composition
Condition
- New construction: No
- Year built: 1977
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Salem
- Subdivision: Ewald Fruit Farms
Other
Other facts
- Listing agreement: Exclusive Right To Sell
- Price range: $450K - $450K
- Listing terms: Cash,Conventional,VA Loan,FHA
Price history
| Date | Event | Price |
|---|---|---|
| 3/14/2024 | Sold | $450,000+2.5%$260/sqft |
Source:  WVMLS #813175 Report a problem | ||
| 2/14/2024 | Contingent | $439,000$254/sqft |
Source: WVMLS #813175 Report a problem | ||
| 2/7/2024 | Listed for sale | $439,000+48.8%$254/sqft |
Source: WVMLS #813175 Report a problem | ||
| 1/1/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 12/28/2023 | Listed for rent | $1,450$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/1/2020 | Sold | $295,000-6.3%$171/sqft |
Source: Public Record Report a problem | ||
| 4/16/2020 | Price change | $315,000-3.1%$182/sqft |
Source: RE/MAX Integrity #759304 Report a problem | ||
| 4/2/2020 | Listed for sale | $325,000+71.5%$188/sqft |
Source: RE/MAX Integrity #759304 Report a problem | ||
| 6/25/2010 | Sold | $189,500$110/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,793 +7.8% | $184,610 +3% |
| 2024 | $3,519 +3% | $179,240 +6.1% |
| 2023 | $3,415 +2.9% | $168,960 |
| 2022 | $3,320 +2.9% | $168,960 +3% |
| 2021 | $3,225 +3% | $164,040 +6.1% |
| 2020 | $3,131 +3.6% | $154,640 |
| 2019 | $3,021 +1.3% | -- |
| 2018 | $2,983 | -- |
| 2017 | $2,983 +16.3% | -- |
| 2016 | $2,564 | -- |
| 2015 | $2,564 -0.7% | -- |
| 2014 | $2,583 +8.1% | -- |
| 2013 | $2,390 | -- |
| 2012 | $2,390 +152.9% | -- |
| 2011 | $945 +4.2% | $50,450 -56.2% |
| 2010 | $906 -58.2% | $115,100 |
| 2009 | $2,169 +6% | $115,100 +3% |
| 2008 | $2,046 +3.3% | $111,750 |
| 2007 | $1,982 +1.7% | -- |
| 2006 | $1,950 +2% | -- |
| 2005 | $1,911 -0.4% | -- |
| 2004 | $1,919 +4.9% | -- |
| 2003 | $1,830 +2.5% | -- |
| 2002 | $1,786 +3.1% | -- |
| 2001 | $1,732 +3.2% | -- |
| 2000 | $1,679 | -- |
Find assessor info on the county website
Neighborhood: Southwest
Nearby schools
GreatSchools rating
- 2/10Salem Heights Elementary SchoolGrades: K-5Distance: 0.1 mi
- 3/10Crossler Middle SchoolGrades: 6-8Distance: 2.2 mi
- 6/10Sprague High SchoolGrades: 9-12Distance: 1.9 mi
Schools provided by the listing agent
- Elementary: Salem Heights
- Middle: Crossler
- High: Sprague
Source: WVMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$486,200
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
$486,200
- Oregon
- Marion County
- Salem
- 97302
- Southwest
- 427 Madrona Ave S
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