NOT LISTED FOR SALE

1946 Spicetree Ln SE Salem, OR 97306

South Gateway Neighborhood

Estimated Value: $632,529 - $659,000

6 Beds
5 Baths
2,980 Sq Ft
$217/Sq Ft Est. Value

Last Sold July 01, 2024

Last sale price $634,000 $213 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $4,167/month

31 Days on Market

Highlights

  • Secluded Lot
  • 2 Car Garage
  • Lap Siding
  • Forced Air Heating System
  • Gentle Sloping Lot

About This Home

As of July 2024

Amazing opportunity to own a Duplex in desirable South Salem area. On a street with newer and renovated duplexes. This Multi-family home has a spacious layout with 6 bedrooms and 2.5 bathrooms, (Each side of the duplex has 3 beds and 2.5 bathroom) with approximately 2,980 sq ft, of space total for both units. Each unit has an attached 2 car garage. Interior laundry room. Large living room/dining area that has a great territorial view of the backyard. Long term renter history, tenants would prefer to stay. Great investment opportunity. Do not disturb tenants. Property showable with proof of funds.

Last Agent to Sell the Property

GINA AUDRITSH

Hallmark Properties, Inc. Brokerage Email: info@hpihomes.com License #981000060 Listed on: 03/21/2024

Last Buyer's Agent

Jeremy Parmenter

TLC Realty License #200606399

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,465

Year Built

  • Built in 1994

Lot Details

  • 9,147 Sq Ft Lot
  • Lot Dimensions are 77x92
  • Secluded Lot
  • Flag Lot
  • Gentle Sloping Lot

Parking

  • 2 Car Garage
  • Driveway

Home Design

  • Tile Roof
  • Lap Siding
  • Cement Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,980 Sq Ft Home
  • 2-Story Property
  • Crawl Space

Schools

  • Battle Creek Elementary School
  • Judson Middle School
  • Sprague High School

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Gas
  • Gas Water Heater

Listing and Financial Details

  • Assessor Parcel Number 569851

Community Details

Overview

  • Property has a Home Owners Association
  • 2 Units
  • Cinnamonwood Estates HOA Phase 2 Association
  • Cinnamonwood Estates Subdivision
  • Property managed by Crown Management Co

Building Details

  • Operating Expense $11,041
  • Gross Income $48,228
  • Net Operating Income $35,154

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,465

Year Built

Built in 1994

Lot Details

0

Parking

2

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 2
  • Year Built: 1994
  • Property Condition: Existing
  • Property Attached Yn: No
  • Open House: No
  • PublicRemarksAssociation: HOA pays for part of the landscaping and the owner pays for the other half of the landscaping due to being a duplex unit.HOA Fee $550 per quarter.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Storage: Garage
  • Association Contact: Unknown
  • Lot Size Range: SqFt7000to9999

Exterior Features

  • Exterior Description: CementSiding,LapSiding
  • Lot Size: 7,000 to 9,999 SqFt
  • Foundation Details: ConcretePerimeter
  • View: No
  • Lot Features: FlagLot, GentleSloping, Secluded
  • Road Surface Type: Paved
  • Roof: Tile

Garage/Parking

  • Parking Description: Driveway, Garage
  • Attached Garage: No
  • Garage Spaces: 2.0
  • Total Parking Spaces: 4.0

Utilities

  • Fuel Description: Gas
  • Hot Water: Gas
  • Cooling: None
  • Cooling Y N: No
  • Heating: ForcedAir
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Management Name: Crown Management Co
  • Association Name: Cinnamonwood Estates HOA Phase 2
  • Phone: 000-000-0000
  • Association: Yes
  • Association Email: cinnamonwood@comcast.net

Association/Amenities

  • AssociationAddress: PO Box 3614 Salem, OR 97302
  • AssociationPendingLitigationYN: No
  • AssociationStatus: Active

Schools

  • Elementary School: Battle Creek
  • High School: Sprague
  • Middle Or Junior School: Judson

Lot Info

  • Zoning: RES
  • Lot Size Acres: 0.21
  • Lot Size: 77x92
  • Lot Size Sq Ft: 9147.0
  • Parcel #: 569851

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: None

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 6465.29

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2
  • Number Of Units Total: 2
  • Gross Rent Multiplier: 13.31
  • Annual Gross Income: 48228.0
  • Property Net Operating Income: 35154.0
  • Annual Operating Expense: 11041.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 21, 2024
Closed on
May 16, 2024
Sold by
Krieger Properties Salem Llc
Bought by
Roberts Sean and Roberts John M
Seller's Agent
GINA AUDRITSH
Hallmark Properties, Inc.
Buyer's Agent
Jeremy Parmenter
TLC Realty
List Price
$642,000
Sold Price
$634,000
Premium/Discount to List
-$8,000
-1.25%
Total Days on Market
31
Views
103
Current Estimated Value
$646,632

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$12,632
Avg. Annual Appreciation
2.08%
Original Mortgage
$543,428
Interest Rate
7.02%
Mortgage Type
VA

Purchase Details

Closed on
Oct 10, 2023
Sold by
Krieger David M and Fa Carolee
Bought by
Krieger Properties Salem Llc

Purchase Details

Closed on
Nov 24, 2014
Sold by
Krieger David M and Krieger Carolee K
Bought by
Krieger 1995 David M and Krieger Carolee

Purchase Details

Closed on
Sep 23, 2014
Sold by
Krieger David M and Krieger Carolee K
Bought by
Krieger David M and Krieger Carolee K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$198,000
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 19, 2005
Sold by
Krieger David M and Krieger Carolee K
Bought by
Krieger David M and Krieger Carolee K

Purchase Details

Closed on
May 17, 2005
Sold by
Krieger David M and Krieger Carolee K
Bought by
1995 David M & Carolee K Krieger Family

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,000
Interest Rate
5.84%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 12, 2005
Sold by
Layton Larry A and Layton Trudy L
Bought by
Krieger David M and Krieger Carolee K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,000
Interest Rate
5.84%
Mortgage Type
FHA

Purchase Details

Closed on
Jan 6, 2004
Sold by
Layton Co
Bought by
Layton Larry A and Layton Trudy L

Purchase Details

Closed on
Jun 27, 2003
Sold by
Layton Co
Bought by
Layton Larry A and Layton Trudy L
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Roberts Sean $634,000 Ticor Title
Krieger Properties Salem Llc -- None Listed On Document
Krieger 1995 David M -- Fidelity National Title Co
Krieger David M -- Fidelity National Title Co
Krieger David M -- --
1995 David M & Carolee K Krieger Family -- First American
Krieger David M $285,000 First American
Layton Larry A -- --
Layton Larry A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Roberts Sean $543,428
Previous Owner Krieger David M $198,000
Previous Owner Krieger David M $228,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/01/2024 07/01/24 Sold $634,000 -1.2% $213 / Sq Ft
04/22/2024 04/22/24 Pending -- -- --
03/21/2024 03/21/24 For Sale $642,000 -- $215 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $6,662 $339,290 -- --
2023 $6,465 $329,410 $0 $0
2022 $6,096 $319,820 $0 $0
2021 $5,922 $310,510 $0 $0
2020 $5,749 $301,470 $0 $0
2019 $5,547 $292,690 $0 $0
2018 $5,645 $0 $0 $0
2017 $5,095 $0 $0 $0
2016 $4,853 $0 $0 $0
2015 $4,882 $0 $0 $0
2014 $4,473 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • GINA AUDRITSH

    Seller's Agent in 2024

    GINA AUDRITSH

    Hallmark Properties, Inc.

    (503) 981-0621

    5 in this area

    183 Total Sales

    GINA AUDRITSH
    Section Image
  • Jeremy Parmenter

    Buyer's Agent in 2024

    Jeremy Parmenter

    TLC Realty

    (541) 255-5685

    1 in this area

    185 Total Sales

    Jeremy Parmenter
    Section Image
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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 24310732

Regional Multiple Listing Service (RMLS)

APN: 569851

Oregon Marion County Salem 97306 South Gateway

1946 Spicetree Ln SE, Salem, OR

This home is located at 1946 Spicetree Ln SE, Salem, OR 97306 since 21 March 2024 and is currently estimated at $646,632, approximately $216 per square foot. This property was built in 1994. 1946 Spicetree Ln SE is a home located in Marion County with nearby schools including Battle Creek Elementary School, Judson Middle School, and Sprague High School.

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