OPEN HOUSE THIS SATURDAY FROM 12-2 PM! DON'T MISS THE BUYER INCENTIVE: UP TO $15,000 IN SELLER CONCESSIONS! Looking for a way to make your home purchase work better financially? The seller is offering up to $15,000 in seller concessions for an eligible buyer to apply toward allowable closing costs, an interest-rate buydown, or other eligible expenses. Ask your lender, or mine how this incentive may benefit your purchase. Welcome to 5445 Reed Ln SE, situated on approximately 0.29 acre in an established South Salem neighborhood with no HOA. This 3-bedroom, 2-bath home offers approximately 2,400 square feet, generous outdoor space, and a range of recent improvements. Updates completed in 2025 and 2026 include a new roof, siding, interior and exterior paint, luxury vinyl plank flooring, bedroom carpeting, and an insulated garage door. Inside, vaulted ceilings, granite countertops, stainless steel appliances, spacious bedrooms, and both a wood-burning and an electric fireplace offer a variety of features to enjoy. Outside, an expansive deck, mature trees, and a koi pond water feature create space to relax or entertain. The oversized lot also provides room for RV parking, recreational vehicles, and additional storage. Conveniently located near Pringle Elementary School, Wes Bennett Park, shopping, dining, and I-5 access, this property offers plenty of room to enjoy both indoor and outdoor living. Schedule a showing and talk with your lender, or mine about how the seller incentive may help you purchase this beautiful home!
For sale
Listed by: Premiere Property Group, Llc Albany • RHEOLA COY • Cell: 503-999-5088
$554,000
5445 Reed Ln SE, Salem, OR 97306
3beds
2,400sqft
Single Family Residence
Built in 1990
0.29 Acres Lot
$544,600 Zestimate®
$231/sqft
$-- HOA
What's special
Insulated garage doorElectric fireplaceKoi pond water featureExpansive deckExterior paintMature treesVaulted ceilings
- 14 days
- 2,682
- 254
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
RHEOLA COY Cell:503-999-5088,
Premiere Property Group, Llc Albany
Source: WVMLS,MLS#: 846958
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: Upper
Bedroom 2
- Level: Upper
Bedroom 3
- Level: Upper
Dining room
- Features: Formal
- Level: Main
Family room
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Heating
- Wood, Heat Pump, Forced Air
Appliances
- Included: Dishwasher, Disposal, Electric Range, Gas Water Heater
- Laundry: Main Level
Features
- High Speed Internet, Smart Home
- Flooring: Carpet, Laminate, Tile
- Has fireplace: Yes
- Fireplace features: Living Room, Other Room, Wood Burning, Electric
Interior area
- Total structure area: 2,400
- Total interior livable area: 2,400 sqft
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Attached
- Attached garage spaces: 2
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck
- Exterior features: Blk/Brn
- Has spa: Yes
- Spa features: Heated
- Fencing: Fenced
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.29 Acres
- Features: Dimension Above, Landscaped
Details
- Additional structures: RV/Boat Storage
- Parcel number: 575420
- Zoning: RA
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Composite, Lap Siding
- Foundation: Continuous
- Roof: Composition
Condition
- New construction: No
- Year built: 1990
Utilities & green energy
- Electric: 1/Main
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Security: Security System Owned
- Subdivision: Grabenhorst Fruit Farms
HOA
- Has HOA: No
Location
- Region: Salem
Financial & listing details
- Price per square foot: $231/sqft
- Tax assessed value: $556,480
- Annual tax amount: $6,622
- Price range: $554K - $554K
- Date on market: 10/28/2026
- Listing agreement: Exclusive Right To Sell
- Listing terms: VA Loan,Cash,ODVA,FHA,Conventional
- Inclusions: All kitchen appliances, washer & dryer included
Estimated market value
$544,600
$517,000 - $572,000
$3,043/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/28/2026 | Listed for sale | $554,000-0.2%$231/sqft |
Source:  WVMLS #846958 Report a problem | ||
| 10/28/2026 | Listing removed | $554,900$231/sqft |
Source: WVMLS #841558 Report a problem | ||
| 9/4/2026 | Price change | $554,900-2.5%$231/sqft |
Source: WVMLS #841558 Report a problem | ||
| 8/6/2026 | Price change | $569,000-2.7%$237/sqft |
Source: WVMLS #841558 Report a problem | ||
| 7/20/2026 | Price change | $585,000-2.5%$244/sqft |
Source: WVMLS #841558 Report a problem | ||
| 6/17/2026 | Listed for sale | $600,000+17.6%$250/sqft |
Source: WVMLS #841558 Report a problem | ||
| 9/22/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 9/14/2021 | Listed for sale | $510,000+172.9%$213/sqft |
Source: Owner Report a problem | ||
| 8/12/2014 | Sold | $186,900+15.4%$78/sqft |
Source: Public Record Report a problem | ||
| 8/8/2011 | Sold | $162,000-4.6%$68/sqft |
Source: Public Record Report a problem | ||
| 7/14/2011 | Price change | $169,900-4.3%$71/sqft |
Source: foreclosure.com Report a problem | ||
| 6/18/2011 | Price change | $177,500-6.5%$74/sqft |
Source: MARK ATKINSON REAL ESTATE INC. #637174 Report a problem | ||
| 5/20/2011 | Price change | $189,900-5%$79/sqft |
Source: foreclosure.com Report a problem | ||
| 4/16/2011 | Price change | -- |
Source: Williams & Williams Worldwide Real Estate Auction Report a problem | ||
| 2/6/2011 | Price change | $199,900-19.7%$83/sqft |
Source: MARK ATKINSON REAL ESTATE INC. #637174 Report a problem | ||
| 1/26/2011 | Listed for sale | -- |
Source: foreclosure.com Report a problem | ||
| 1/25/2011 | Sold | $249,050$104/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,621 +7.8% | $322,300 +3% |
| 2024 | $6,144 +3% | $312,920 +6.1% |
| 2023 | $5,963 +2.9% | $294,970 |
| 2022 | $5,796 +2.9% | $294,970 +3% |
| 2021 | $5,630 +3% | $286,380 +6.1% |
| 2020 | $5,466 +3.6% | $269,950 |
| 2019 | $5,274 +1.3% | -- |
| 2018 | $5,206 | -- |
| 2017 | $5,206 +16.3% | -- |
| 2016 | $4,476 | -- |
| 2015 | $4,476 +2.6% | -- |
| 2014 | $4,364 +8.2% | -- |
| 2013 | $4,034 | -- |
| 2012 | $4,034 -4.3% | -- |
| 2011 | $4,213 +4.1% | $225,380 +6.1% |
| 2010 | $4,049 +1.1% | $212,450 |
| 2009 | $4,004 +6% | $212,450 +3% |
| 2008 | $3,777 +3.3% | $206,270 |
| 2007 | $3,658 +1.7% | -- |
| 2006 | $3,598 +2% | -- |
| 2005 | $3,527 -0.4% | -- |
| 2004 | $3,542 +4.9% | -- |
| 2003 | $3,378 +2.5% | -- |
| 2002 | $3,297 +3.1% | -- |
| 2001 | $3,197 +3.2% | -- |
| 2000 | $3,098 | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: South Gateway
Nearby schools
Schools provided by the listing agent
- Elementary: Pringle
- Middle: Judson
- High: South Salem
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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