$793,000
SOLD MAR 25, 2025

6280 Cottonwood St NE Salem, OR 97317

-- Bed
-- Bath
-- Sq Ft
2.25 Acres

Recently Sold

14% Below List Price

62 Days on Market

Highlights

  • RV Access or Parking
  • No HOA
  • Lap Siding
  • Territorial View
  • Baseboard Heating

About This Home

As of March 2025

Two separate single family homes plus a duplex, all on 2.25 acres. 4 unit investment opportunity, fully rented, with positive cash flow. Each unit has own separate meters. Tenants pay all utilities. Seller pays property taxes & insurance. On well/septic. A great return on your investment. Buyer to do own due diligence. One well is shared between all properties. In the last 10 years; pump, electrical and pressure tank have been replaced. Two septic systems on property installed in last 10 years. Many updates in 3/1 unit, tenants since 7/2024. All roofs 10-12 Years old. Duplex tenants since 2017, house tenants for 11 yrs. All units month-month.

Last Agent to Sell the Property

AIMEE BAXTER

Windermere Pacific West Prop. License #980600027

Windermere Pacific West Prop.

Last Buyer's Agent

AIMEE BAXTER

Windermere Pacific West Prop. License #980600027

Windermere Pacific West Prop.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,899

Year Built

  • Built in 1965

Parking

  • RV Access or Parking

Home Design

  • Composition Roof
  • Lap Siding

Schools

  • Lamb Elementary School
  • Stephens Middle School
  • Mckay High School

Utilities

  • No Cooling
  • Radiant Heating System
  • Baseboard Heating
  • Well
  • Electric Water Heater
  • Septic Tank

Additional Features

  • Territorial Views
  • Washer and Dryer Hookup
  • 2.25 Acre Lot
  • Partially Finished Basement

Listing and Financial Details

  • Rent includes sewer, water
  • Assessor Parcel Number 523479

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Operating Expense $7,697
  • Gross Income $85,440
  • Net Operating Income $85,440

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,899

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Year Built: 1965
  • Property Attached Yn: No
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: PartiallyFinished
  • Lot Size Range: Acres1to3

Exterior Features

  • Exterior Description: LapSiding
  • Lot Size: 1 to 2.99 Acres
  • View: Yes
  • Roof: Composition
  • View: Territorial

Garage/Parking

  • Parking Description: RVAccessParking
  • Attached Garage: No

Utilities

  • Fuel Description: Electricity
  • Hot Water: Electricity
  • Cooling Y N: No
  • Heating: Baseboard, Radiant, WallHeater
  • Heating Yn: Yes
  • Sewer: SepticTank
  • Water Source: Well

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Lamb
  • High School: McKay
  • Middle Or Junior School: Stephens

Lot Info

  • Zoning: RA
  • Lot Size Acres: 2.25
  • Lot Size Sq Ft: 98010.0
  • Parcel #: 523479

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: Sewer, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2023
  • Tax Annual Amount: 5898.63

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3, UnitTypeType4
  • Number Of Units Total: 4
  • Gross Rent Multiplier: 10.77
  • Annual Gross Income: 85440.0
  • Property Net Operating Income: 85440.0
  • Annual Operating Expense: 7697.0

Map

Range of Values:

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/25/2025 03/25/25 Sold $793,000 -13.8% --
12/13/2024 12/13/24 For Sale $920,000 0.0% --
12/12/2024 12/12/24 Pending -- -- --
12/06/2024 12/06/24 For Sale $920,000 0.0% --
10/25/2024 10/25/24 Pending -- -- --
10/18/2024 10/18/24 Price Changed $920,000 -3.2% --
10/11/2024 10/11/24 For Sale $950,000 -- --
Source: Regional Multiple Listing Service (RMLS)

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 $6,219 $429,170 -- --
2023 $5,899 $416,670 $0 $0
2022 $5,554 $404,540 $0 $0
2021 $5,503 $392,760 $0 $0
2020 $5,286 $381,330 $0 $0
2019 $5,348 $370,230 $0 $0
2018 $5,272 $0 $0 $0
2017 $4,676 $0 $0 $0
2016 $4,474 $0 $0 $0
2015 $4,428 $0 $0 $0
2014 $4,237 $0 $0 $0
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $350,000 New Conventional
Previous Owner $95,000 New Conventional
Previous Owner $465,000 Credit Line Revolving
Previous Owner $356,000 Purchase Money Mortgage
Previous Owner $348,000 Commercial
Source: Public Records

Deed History

Date Type Sale Price Title Company
Warranty Deed $764,814 First American Title
Warranty Deed $514,000 Amerititle
Interfamily Deed Transfer -- None Available
Warranty Deed -- First American
Warranty Deed $435,000 First American
Source: Public Records

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Source: Regional Multiple Listing Service (RMLS)

MLS Number: 24464631

Regional Multiple Listing Service (RMLS)

APN: 523479