$464,000

745 Ne 16TH St, Salem, OR 97301

4 beds |
3 baths |
2,378 sqft

Single-Family Home
Built in 1926
7,841sqft lot
1 car garage
$195/sqft
Listed 4 months ago

Property Description

Turnkey investment with instant cash flow upon closing! This 4 bed, 2.5 bath has room for everyone. Great renters with a lease until July 2026. This well maintained beauty has hardwood floors, new appliances, waterproofed basement with lifetime warranty, and new wall insulation. The huge back yard has excellent ADU potential with pre-approved plans from the city, convenient alley access, and easily accessible utilities. Cap rate 6.2%, GRM 13.1. Tenant occupied. Do not disturb tenants. Offer contingent upon interior inspection.

Listing Status:: Active
Date Added:: December 4, 2025
Data Last Updated:: April 5, 2026 at 7:42AM
Listing Office:: Premiere Property Group, LLC : 503-670-9000
Listing Agent:: Neil Nelson : 503-444-1070
MLS ID:: 637229774

General: Hardwood floorsLaundryWasher dryer
Appliances: DishwasherDisposalFree standing rangeFree standing refrigeratorMicrowave
Basement: FinishedFull basement
A/C: Central air
Heating: Forced air
Fireplace: GasFireplaceFireplaces: 1

General: Wood sidingDeckFencedFire pitPatioPorchRv parkingRv boat storageTool shedWorkshopYard
Style: Bungalow
Parking: DrivewayRv access parkingParking spaces: 1

Roofing: Composition
Windows: VinylFrames
General: Concrete perimeter

Road/Access: Paved
Originating MLS: Regional Multiple Listing ServiceInc.
County: Marion

Zoning: ENGLEWOOD ADD SALEM LOT 10 BLK 2572138
View: View

Water: Public water
Sewer: Public sewer

Source: Regional Multiple Listing ServiceInc.

This listing courtesy of Neil Nelson , Premiere Property Group, LLC

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Englewood Elementary School

1132 19th St NE, Salem, OR, 97301

Grades KG-5

0.39 miles away

Parrish Middle School

802 Capitol St NE, Salem, OR, 97301

Grades 6-8

0.35 miles away

North Salem High School

765 14th St NE, Salem, OR, 97301

Grades 9-12

0.20 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.