Great location! Value is in the land 4.93 acs, Lg shop apx 3,600 sf, & the well. Dream of building a new home on acreage? This single family residence property may have possibilities for buyer. 1947's home is not in livable condition. Shop has 1/2 bath, apx 400 gallon holding tank, 200 amp electric. Garage noted on listing is actually a shop which can hold an estimated 16+ cars/other storage or RV. Property is in a forest deferral so lower taxes. Buyer to do all due diligence on home & property. See #808380
Sold for $550,000
Listed by: Homestar Brokers • JULIE TYE • Contact: 503-930-6500
Bought with: Harcourts Silverton
$550,000
7281 Rainbow Dr SE, Salem, OR 97306
3beds
1,334sqft
Single Family Residence
Built in 1947
4.93 Acres Lot
$655,900 Zestimate®
$412/sqft
$2,136 Estimated rent
Home value
$655,900
$597,000 - $721,000
$2,136/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
JULIE TYE Cell:503-930-6500,
Homestar Brokers
Bought with:
VALERIE KOFSTAD (BOEN)
Harcourts Silverton
Source: WVMLS,MLS#: 807893
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
Primary bedroom
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Features
- Has fireplace: No
Interior area
- Total structure area: 1,334
- Total interior livable area: 1,334 sqft
Property
Parking
- Parking features: Detached
- Garage spaces: 4
Features
- Levels: One
- Stories: 1
- Exterior features: Blue/Gray
- Has view: Yes
- View description: Territorial
Lot
- Size: 4.93 Acres
Details
- Additional structures: Workshop, RV/Boat Storage
- Parcel number: 561444
- Zoning: SA
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Foundation: Slab
Condition
- New construction: No
- Year built: 1947
Utilities & green energy
- Water: Well
Community & HOA
HOA
- Has HOA: No
Location
- Region: Salem
Financial & listing details
- Price per square foot: $412/sqft
- Tax assessed value: $1,114,090
- Annual tax amount: $2,415
- Price range: $550K - $550K
- Date on market: 2/14/2024
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Has irrigation water rights: Yes
Price history
| Date | Event | Price |
|---|---|---|
| 10/6/2023 | Sold | $550,000-3.3%$412/sqft |
Source:  WVMLS #807893 Report a problem | ||
| 8/24/2023 | Contingent | $569,000$427/sqft |
Source: WVMLS #808380 Report a problem | ||
| 8/4/2023 | Listed for sale | $569,000+14%$427/sqft |
Source: WVMLS #807893 Report a problem | ||
| 9/25/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 7/27/2021 | Listed for sale | $499,000+149.5%$374/sqft |
Source: Owner Report a problem | ||
| 2/18/2016 | Sold | $200,000$150/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,091 +128.5% | $479,825 +128.4% |
| 2024 | $2,666 +7.7% | $210,072 +11.5% |
| 2023 | $2,476 | $188,408 |
| 2022 | -- | $188,408 +3% |
| 2021 | -- | $182,920 +6.1% |
| 2020 | $2,289 +3.8% | $172,430 |
| 2019 | $2,205 +1.3% | -- |
| 2018 | $2,177 | -- |
| 2017 | $2,177 -46.8% | -- |
| 2016 | $4,090 | -- |
| 2015 | $4,090 +269.2% | -- |
| 2014 | $1,108 | -- |
Find assessor info on the county website
Neighborhood: 97306
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Nearby schools
GreatSchools rating
- 3/10Battle Creek Elementary SchoolGrades: K-5Distance: 1.1 mi
- 3/10Crossler Middle SchoolGrades: 6-8Distance: 2.2 mi
- 6/10Sprague High SchoolGrades: 9-12Distance: 3.2 mi
Schools provided by the listing agent
- Elementary: Battlecreek
- Middle: Judson
- 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
$655,900
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
$655,900
- Oregon
- Marion County
- Salem
- 97306
- 7281 Rainbow Dr SE
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