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For sale
    • Listed by: Premiere Property Group, Llc Albany • RHEOLA COY • Contact: Cell: 503-999-5088
    Price cut: $16K (8/6)
    $569,000

    5445 Reed Ln SE, Salem, OR 97306

    3beds
    2,400sqft
    : 
    $3,915/mo
    Get pre-qualified
    Single Family Residence
    Built in 1990
    0.29 Acres Lot
    $565,200 Zestimate®
    $237/sqft
    $-- HOA

    What's special

    Wood-burning fireplaceElectric fireplaceNew insulated garage doorBackyard retreatFresh paint throughoutMature treesVaulted ceilings
    LOCATION, LIFESTYLE & SPACE — Welcome to one of SE Salem’s most desirable neighborhoods! Situated on a spacious and beautifully landscaped 0.29-acre lot, this extensively updated 3 bedroom, 2 bathroom home offers 2,400 sq. ft. of comfort, privacy, and convenience in an established South Salem neighborhood surrounded by beautifully maintained homes. From the moment you arrive, you’ll appreciate the peaceful setting, mature trees, and inviting curb appeal that give this property a private, country-like feel while still being just minutes from everything Salem has to offer. Thoughtfully updated in 2025 and 2026, the interior features new luxury vinyl plank flooring on the main level, new carpet in the bedrooms, and fresh paint throughout. Exterior updates bring total peace of mind with a new roof, siding, fresh paint, and a new insulated garage door. Additional features include granite countertops, stainless steel appliances, vaulted ceilings, spacious bedrooms, and both a wood-burning fireplace and electric fireplace for warmth and ambiance year-round. Step outside into your own backyard retreat featuring mature landscaping, a tranquil koi pond water feature, expansive deck space perfect for entertaining, and plenty of room to relax, garden, play, or simply enjoy the peaceful surroundings. The oversized lot also offers space for RV parking, recreational toys, or additional storage — all with NO HOA. Location truly sets this property apart. You are just steps from Pringle Elementary School and Wes Bennett Park, and only minutes from dining, shopping, and I-5 access. It is rare to find a home that offers this much space, convenience, and peaceful seclusion in the heart of South Salem — this is the one you’ve been waiting for!
    52 days
    |
    3,593
    |
    272
    |

    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#: 841558MLS Logo

      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
      Cooling
      • Central 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: Electric, Living Room, Other Room, Wood Burning
      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: $237/sqft
      • Tax assessed value: $556,480
      • Annual tax amount: $6,622
      • Price range: $569K - $569K
      • Date on market: 6/17/2026
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Cash,Conventional,VA Loan,FHA,ODVA
      • Inclusions: All kitchen appliances, washer & dryer included

        Estimated market value

        $565,200

        $537,000 - $593,000

        $2,900/mo

        Price history

        DateEventPrice
        8/6/2026Price change$569,000-2.7%$237/sqft
        Source: WVMLS #841558 Report a problem
        7/20/2026Price change$585,000-2.5%$244/sqft
        Source: WVMLS #841558 Report a problem
        6/17/2026Listed for sale$600,000+17.6%$250/sqft
        Source: WVMLS #841558 Report a problem
        9/22/2021Listing removed--
        Source: Owner Report a problem
        9/14/2021Listed for sale$510,000+172.9%$213/sqft
        Source: Owner Report a problem
        8/12/2014Sold$186,900+15.4%$78/sqft
        Source: Public Record Report a problem
        8/8/2011Sold$162,000-4.6%$68/sqft
        Source: Public Record Report a problem
        7/14/2011Price change$169,900-4.3%$71/sqft
        Source: foreclosure.com Report a problem
        6/18/2011Price change$177,500-6.5%$74/sqft
        Source: MARK ATKINSON REAL ESTATE INC. #637174 Report a problem
        5/20/2011Price change$189,900-5%$79/sqft
        Source: foreclosure.com Report a problem
        4/16/2011Price change--
        Source: Williams & Williams Worldwide Real Estate Auction Report a problem
        2/6/2011Price change$199,900-19.7%$83/sqft
        Source: MARK ATKINSON REAL ESTATE INC. #637174 Report a problem
        1/26/2011Listed for sale--
        Source: foreclosure.com Report a problem
        1/25/2011Sold$249,050$104/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax 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.
        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.
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        Climate risks

        Neighborhood: South Gateway

        Getting around

        53 / 100
        Somewhat Walkable
        38 / 100
        Some Transit
        61 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        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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