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589 KNAPP PL Salem, OR $ 495,950
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589 KNAPP PL
$ 495,950
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589 KNAPP PL

Salem, OR, 97301
$ 495,950
Bedrooms5 Baths8.0 Sq 3,065

Monthly Estimate*

$ 3,131

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Multi-Family Home for sale in Salem, OR

for $495,950 with 5 bedrooms and 8 full baths. This 3,065 square foot home was built in 1936 on a lot size of 0.11.

Investment Opportunity! 3 bedroom home on Mill Creek with over 2000sf 3br/1.5ba. 2 fireplaces. Walk out basement to a patio with firepit creekside. Live in the home and rent the two twin 528sf cottages or rent all three homes for a great return on investment. The Cottages are identical with each having a 1 bedroom, living, kitchen and bath layout. Roofs were all checked out in 2024 and good to go. All units have mini split heat pumps for heat and cool.

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Multi-Family Active

Price

$ 495,950

Bedrooms

5

Full Bath

8

Property Type

Multi-Family

Taxes

$ 3,898

Style

Lot Size

0.11

Year Built

1936

Town/City

Salem

County/Region

Marion

MLS | Web ID

138316591
Features
General
Sewer PublicSewer
Heating Ductless MiniSplit Zoned
Cooling HeatPump MiniSplit
Roof Composition Shingle
Zoning RM
Garage Spaces 0
Year Built 1936
Tax Year 2025
Parcel Number 580120
Gross Income 36600.0
Waterfront Features Creek
County Marion
Net Operating Income 32701.0
Operating Expense 3899.0
Property Type MultiFamily
HOA N
Subdivision Name Knapps Add
Rent Includes None
Status Active
Directions High St.
High School North Salem
City Salem
Body of Water Mill Creek
Disclosures Disclosure
Number Of Units Total 3
MLS Area _174
Lot Size Square Feet 4791.0
Listing Terms Cash Conventional
Elementary School Grant
Tax Annual Amount 3898.51
Middle/Junior High School Parrish
Property Condition UpdatedRemodeled
Standard Status Active
Accessory Dwelling Unit Y/N N
Legal Description KNAPPS SUB-DIV SALEM LOT 14 ALSO FR ADJ
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Interior
Basement Daylight ExteriorEntry PartiallyFinished
Storage Attached Basement
Hot Water Electricity
Unit 1 Baths Total 6
Unit 1 Beds Total 3
Unit 2 Baths Total 1
Unit 2 Beds Total 1
Unit 3 Baths Total 1
Unit 3 Beds Total 1
Unit Type UnitTypeType1 UnitTypeType2 UnitTypeType3
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Exterior
Parking Features Driveway OffStreet
Lot Features PublicRoad
Water Source PublicWater
Total Parking 4.0
Exterior Description Block CementSiding LapSiding
Foundation Details Slab
Building Area Total 3065.0
Lot Dimensions 36x147
Lot Size Acres 0.11
Road Surface Type Paved
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Internal Only
Street Number 1 589
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* Excluded Features
List By
Homesmart Realty Group

Broker

mcvaythree@gmail.com

Email

Affordability Calculator

$3,456
Per Month
91%
9%
0%
Monthly Principal & Interest
$3,131
Monthly Property Taxes
$325
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4370193 Elementary School
1951177 Middle School
North Salem High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
8/13/2026$495,950 Listed Price

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589 KNAPP PL, Salem, OR, 97301 is a Multi-Family Home for sale at $495,950 with 3,065 sqft and a lot size of 0.11. 589 KNAPP PL has 5 bedrooms, 8.0 baths, and was built in 1936. The property's zip code is 97301 which is in Salem, OR

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