Calling all investors—don’t miss this exceptional three-unit multifamily opportunity. This property is ideal for investors looking to expand their portfolio or for an owner-occupant who wants to live in one unit while renting out the other two.All units have been renovated, and the building is fully occupied. The seller currently resides in one unit, with the remaining two secured by leases. Located on a quiet, tree-lined street, the property offers a peaceful and desirable setting.Whether you’re adding to an existing portfolio or purchasing your first investment property, this one delivers. The numbers are strong, with an actual cap rate exceeding 6%.Please submit offers contingent upon a walkthrough. Kindly do not disturb the tenants or walk the property.
Sold
Zestimate®
$430,000
581 Highland Ave NE, Salem, OR 97301
3beds
1,615sqft
Multi Family
Built in 1937
-- sqft lot
$430,000 Zestimate®
$266/sqft
$1,711 Estimated rent
Home value
$430,000
$409,000 - $452,000
$1,711/mo
Zestimate® history
Owner options
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$1,711/mo
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$1,711/mo
Rent Zestimate®
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$2,634/mo
Est. payment
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$2,634/mo
Est. payment
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Peaceful and desirable setting
Zillow last checked:
Listing updated:
Listed by:
Michael Bivens 503-475-3333,
Bridgetown Equity Prop LLC
Bought with:
OR and WA Non Rmls, NA
Non Rmls Broker
Source: RMLS (OR),MLS#: 487660105
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Wall Furnace
Cooling
- None
Appliances
- Included: Dishwasher, Range, Refrigerator, Washer/Dryer, Electric Water Heater
Interior area
- Total structure area: 1,615
- Total interior livable area: 1,615 sqft
Property
Parking
- Parking features: On Street
- Has uncovered spaces: Yes
Features
- Stories: 1
Lot
- Size: 3,484 Square Feet
- Features: Level, Trees, SqFt 3000 to 4999
Details
- Parcel number: 577112
- Zoning: RS
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Siding
- Foundation: Slab
- Roof: Composition
Condition
- Updated/Remodeled
- Year built: 1937
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected
Community & HOA
Community
- Security: None
HOA
- Has HOA: No
Location
- Region: Salem
Financial & listing details
- Price per square foot: $266/sqft
- Annual tax amount: $4,049
- Date on market: 1/12/2026
- Cumulative days on market: 149 days
- Listing terms: Cash,Conventional,FHA
- Total actual rent: 3600
- Road surface type: Concrete, Paved
Price history
| Date | Event | Price |
|---|---|---|
| 7/17/2026 | Sold | $430,000-10.2%$266/sqft |
Source:  RMLS (OR) #487660105 Report a problem | ||
| 5/23/2026 | Pending sale | $479,000$297/sqft |
Source: RMLS (OR) #487660105 Report a problem | ||
| 5/2/2026 | Price change | $479,000-3.2%$297/sqft |
Source: RMLS (OR) #487660105 Report a problem | ||
| 3/17/2026 | Price change | $495,000-5.7%$307/sqft |
Source: RMLS (OR) #487660105 Report a problem | ||
| 2/24/2026 | Price change | $525,000-1.9%$325/sqft |
Source: RMLS (OR) #487660105 Report a problem | ||
| 1/13/2026 | Listed for sale | $535,000+44.6%$331/sqft |
Source: RMLS (OR) #487660105 Report a problem | ||
| 6/16/2025 | Sold | $370,000-12.9%$229/sqft |
Source: RMLS (OR) #262321306 Report a problem | ||
| 5/13/2025 | Pending sale | $425,000-7.6%$263/sqft |
Source: RMLS (OR) #262321306 Report a problem | ||
| 8/16/2023 | Listing removed | -- |
Source:  WVMLS #806000 Report a problem | ||
| 8/2/2023 | Listed for sale | $460,000$285/sqft |
Source: WVMLS #806000 Report a problem | ||
| 6/29/2023 | Contingent | $460,000$285/sqft |
Source: WVMLS #806000 Report a problem | ||
| 6/9/2023 | Listed for sale | $460,000+26.7%$285/sqft |
Source: WVMLS #806000 Report a problem | ||
| 2/1/2021 | Sold | $363,000+42.4%$225/sqft |
Source: RMLS (OR) #20163708 Report a problem | ||
| 3/13/2019 | Sold | $255,000+2%$158/sqft |
Source: Agent Provided Report a problem | ||
| 2/18/2019 | Listed for sale | $250,000+72.4%$155/sqft |
Source: HomeSmart Realty Group #19536099 Report a problem | ||
| 4/3/2010 | Listing removed | $145,000$90/sqft |
Source: RE/MAX EQUITY GROUP , INC. #613596 Report a problem | ||
| 7/30/2009 | Listed for sale | $145,000$90/sqft |
Source: RE/MAX EQUITY GROUP , INC. #613596 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: Highland
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Nearby schools
GreatSchools rating
- 3/10Highland Elementary SchoolGrades: K-5Distance: 0.1 mi
- 3/10Parrish Middle SchoolGrades: 6-8Distance: 1 mi
- 4/10North Salem High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- Elementary: Hammond
- Middle: Parrish
- High: North Salem
Source: RMLS (OR). 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
$430,000
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$430,000
- Oregon
- Marion County
- Salem
- 97301
- Highland
- 581 Highland Ave NE
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