NOT LISTED FOR SALE

4702 Lancaster Dr NE Unit 4722 Salem, OR 97305

Hayesville Neighborhood

Estimated Value: $375,000 - $477,000

7 Beds
4 Baths
2,888 Sq Ft
$150/Sq Ft Est. Value

Last Sold September 10, 2020

Last sale price $340,000 $118 Per Sq Ft

Est. 27% increase in value since last sale

Current estimated payment $2,620/month

7 Days on Market

About This Home

As of September 2020

Investment opportunity! 4 units on one tax lot! Combined rent for all four units is $3,267/month. Three 2-bedroom/ 1-bath homes and one 1-bedroom/1 bath home. Located on the corner of Lancaster Dr. and Hayesville Dr.

Last Agent to Sell the Property

Dewey Whitton

The Salem Real Estate Group License #890200088 Listed on: 07/14/2020

Last Buyer's Agent

Jason Kennedy

RE/MAX Equity Group License #200501139

RE/MAX Equity Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,169

Year Built

  • Built in 1945

Lot Details

  • Corner Lot
  • Level Lot

Community Details

  • 4 Units

Listing and Financial Details

  • Rent includes sewer, water

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,169

Year Built

Built in 1945

Lot Details

0

Listing Details

  • Status: Sold
  • Property Category: Multi Family
  • Sq Ft Approximate Building Total: 2888
  • Year Built: 1945
  • Remarks Public: Investment opportunity! 4 units on one tax lot! Combined rent for all four units is $3,267/month. Three 2-bedroom/ 1-bath homes and one 1-bedroom/1 bath home. Located on the corner of Lancaster Dr. and Hayesville Dr.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Legal Description: REIMANN GARDENS, LOT 1, ACRES 0.6

Exterior Features

  • Lot Size: 20,000 SqFt to .99 Acres
  • Road Surface: Paved

Utilities

  • Sewer: Public Sewer
  • Water Description: Well

Association/Amenities

  • Amenities Supplement: No

Schools

  • Elementary School: Hayesville
  • Middle School: Stephens
  • High School: McKay

Lot Info

  • Lot Description: Corner Lot, Level
  • Zoning: RS
  • Water Rights Supplement: No

Green Features

  • Green Energy Supplement: No

Rental Info

  • Rent Includes: Sewer, Water

Tax Info

  • Tax Amount: 3050.67
  • Assessor Parcel Number: R58641
  • Tax Year: 2019

Multi Family

  • Unit Type: 1, 2, 3, 4
  • Number Of Units Total: 4
  • Gross Rent Multiplier: 9.16

MLS Schools

  • Elementary School: Hayesville
  • High School: McKay
  • Middle School: Stephens

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 23, 2024
Sold by
Rivas Herme and Rivas Herme H
Bought by
Tg 1St Llc
Current Estimated Value
$433,132

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$953,250
Outstanding Balance
$948,636
Interest Rate
6.2%
Mortgage Type
New Conventional
Estimated Equity
-$518,520

Purchase Details

Listed on
Jul 14, 2020
Closed on
Sep 11, 2020
Sold by
Weddle Karen A
Bought by
Rivas Herme H
Seller's Agent
Dewey Whitton
The Salem Real Estate Group
Buyer's Agent
Jason Kennedy
RE/MAX Equity Group
List Price
$359,000
Sold Price
$340,000
Premium/Discount to List
-$19,000
-5.29%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.84%
Original Mortgage
$350,000
Interest Rate
2.9%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Tg 1St Llc -- None Listed On Document
Rivas Herme H $340,000 Amerititle
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tg 1St Llc $953,250
Previous Owner Rivas Herme H $350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/10/2020 09/10/20 Sold $340,000 -5.3% $118 / Sq Ft
07/21/2020 07/21/20 Pending -- -- --
07/14/2020 07/14/20 For Sale $359,000 -- $124 / 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 $3,169 $193,280 -- --
2023 $3,007 $187,660 $0 $0
2022 $3,338 $182,200 $0 $0
2021 $3,208 $180,330 $0 $0
2020 $3,029 $175,080 $0 $0
2019 $3,051 $169,990 $0 $0
2018 $3,081 $0 $0 $0
2017 $2,324 $0 $0 $0
2016 $2,227 $0 $0 $0
2015 $2,203 $0 $0 $0
2014 $2,057 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Dewey Whitton

    Seller's Agent in 2020

    Dewey Whitton

    The Salem Real Estate Group

    (503) 949-3623

    13 in this area

    396 Total Sales

    Dewey Whitton
    Section Image
  • Jason Kennedy

    Buyer's Agent in 2020

    Jason Kennedy

    RE/MAX

    (503) 679-0554

    4 in this area

    181 Total Sales

    Jason Kennedy
    Section Image
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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 20331497

Regional Multiple Listing Service (RMLS)

APN: 558641

Oregon Marion County Salem 97305 Hayesville

4702 Lancaster Dr NE Unit 4722, Salem, OR

This home is located at 4702 Lancaster Dr NE Unit 4722, Salem, OR 97305 since 14 July 2020 and is currently estimated at $433,132, approximately $149 per square foot. This property was built in 1945. 4702 Lancaster Dr NE Unit 4722 is a home located in Marion County with nearby schools including Hayesville Elementary School, Stephens Middle School, and McKay High School.

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