771 21st St SE Salem, OR 97301
Southeast Salem NeighborhoodEstimated payment $3,428/month
Highlights
- No HOA
- Level Lot
- Heating System Mounted To A Wall or Window
- Laundry Facilities
- Wood Siding
- 3-minute walk to Lee Park
About This Home
4 plex investor opportunity in central Salem with potential to assume FHA mortgage at 2.75%! This detached 4-plex offers four 1-bedroom, 1-bath units—each with its own private entrance, electric meter, and water heater. The original home was extensively remodeled and partially rebuilt in 1990–91, blending character with modern updates. Recent improvements include a newer roof (approx. 5–10 years old), updated water heaters, new flooring, and ongoing maintenance that shows pride of ownership.
Listing Agent
eXp Realty, LLC Brokerage Phone: 503-577-8853 License #201220823 Listed on: 08/05/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,376
Year Built
- Built in 1925
Lot Details
- 5,662 Sq Ft Lot
- Level Lot
Home Design
- Composition Roof
- Wood Siding
Interior Spaces
- 2,282 Sq Ft Home
- 2-Story Property
- Dishwasher
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Parking
- 4 Parking Spaces
- On-Street Parking
- Off-Street Parking
Schools
- Richmond Elementary School
- Leslie Middle School
- South Salem High School
Utilities
- No Cooling
- Heating System Mounted To A Wall or Window
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number 583175
Community Details
Overview
- No Home Owners Association
- 4 Units
Amenities
- Common Area
- Laundry Facilities
Building Details
- Operating Expense $17,466
- Gross Income $52,130
- Net Operating Income $32,584
Map
Home Values in the Area
Average Home Value in this Area
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 | $3,376 | $171,950 | -- | -- |
| 2023 | $3,277 | $166,950 | $0 | $0 |
| 2022 | $3,090 | $162,090 | $0 | $0 |
| 2021 | $3,001 | $157,370 | $0 | $0 |
| 2020 | $3,004 | $152,790 | $0 | $0 |
| 2019 | $2,898 | $148,340 | $0 | $0 |
| 2018 | $2,861 | $0 | $0 | $0 |
| 2017 | $2,582 | $0 | $0 | $0 |
| 2016 | $2,460 | $0 | $0 | $0 |
| 2015 | $2,433 | $0 | $0 | $0 |
| 2014 | $2,236 | $0 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/09/2025 09/09/25 | Price Changed | $600,000 | -4.0% | $263 / Sq Ft | |
| 08/04/2025 08/04/25 | For Sale | $625,000 | +49.1% | $274 / Sq Ft | |
| 02/04/2022 02/04/22 | Sold | $419,075 | -1.4% | $184 / Sq Ft | View Prior Sale |
| 09/24/2021 09/24/21 | For Sale | $425,000 | -- | $186 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $419,750 | First American Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $412,146 | FHA |
Source: Regional Multiple Listing Service (RMLS)
MLS Number: 245194097
APN: 583175
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The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Ten-X are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 RMLS™, Portland, Oregon. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.
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