Jennifer Henrikson

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Listing provided courtesy of Bridgetown Equity Prop LLC- MLS# 487660105MLS Provider

581 HIGHLAND AVESalem, OR 97301

Multi-Family · 0.08 Acres
$479,000 Pending

581 HIGHLAND AVE Overview

Time on Site:
168 days
Visits:
2

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.

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581 HIGHLAND AVE Facts & Features

  • Type Multi-Family
  • Lot 0.08 Acres

Details

General

School Information

  • Elementary School: Hammond
  • Middle Or Junior School: Parrish
  • High School: North Salem

Income/Expenses

  • Gross Income: 43200.0
  • Net Operating Income: 32400.0
  • Operating Expense: 10800.0

Building Information

  • Year Built: 1937

Location/Region

  • Country: US
  • County Or Parish: Marion
  • MLS Area Major: 176 - Marion Co: East Salem N

Rent/Lease Information

  • Rent Includes: Maintenance Grounds,Sewer,Trash Collection,Water

Tax Information

  • Tax Annual Amount: 4049.94
  • Tax Year: 2025

General Information

  • Disclosures: Disclosure
  • Listing Terms: Cash,Conventional,FHA
  • Parcel Number: 577112
  • Property Condition: Updated/Remodeled
  • Property Type: Multi Family
  • Zoning: RS

Interior

General Information

  • Cooling: None
  • Foundation Details: Slab
  • Heating: Wall Furnace
  • Security Features: None
  • Stories: 1

Exterior

Parking Information

  • Parking Features: On Street

Lot Information

  • Lot Features: Level,Trees
  • Lot Size Square Feet: 3484.0
  • Road Surface Type: Concrete,Paved
  • Water Source: Public Water

Building Exterior/Construction

  • Roof: Composition

General Information

  • Number Of Units Total: 3
  • Sewer: Public Sewer

581 HIGHLAND AVE Neighborhood

Community

97301 (Salem) Demographics

33
Median Age
4,886
Population Density (per sq. mile)
25%
College Educated
$45,959
Estimated Median Income
8,297
Estimated Total Home Owners
11,013
Estimated Total Renters
43% / 57%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

581 HIGHLAND AVE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

581 HIGHLAND AVE Market Data

Based on the last 30 days in this zip code

$419,594
Average List Price
$257
Average Price per Square Foot
61
Properties Sold
70
Average Days on Market
250
Properties for Sale
Calculations provided by Reliance Network

581 HIGHLAND AVE History

Date Event Value Agent
5/23/2026Source: Regional MLS Status Change
Pending
5/2/2026Source: Regional MLS Price Reduction
$479,000 -3.2%
3/17/2026Source: Regional MLS Price Reduction
$495,000 -5.7%
2/24/2026Source: Regional MLS Price Reduction
$525,000 -1.9%
1/12/2026Source: Regional MLS Added to Database
January 12, 2026