Solid investment opportunity with an available 4.65% rate and soon to be new roof! Just a few blocks from Willamette University, Bush Elementary, and the Amtrak station, this property offers unbeatable convenience and strong rental potential. The main level generates $2,200 monthly, while the finished basement brings in $1,300, creating steady income from day one. With its prime location, versatile layout, and available low rate, this property is a great choice for investors or those looking for multi-generational living.
For sale
Listed by:
SABRINA JAMES 971-218-9349,
Smi Real Estate,
DANIEL MCKINNEY,
Smi Real Estate
$495,000
315 15th St SE, Salem, OR 97301
4beds
3baths
2,272sqft
Est.:
Duplex
Built in 1901
-- sqft lot
$489,900 Zestimate®
$218/sqft
$-- HOA
What's special
- 78 days |
- 442 |
- 12 |
Zillow last checked: 8 hours ago
Listing updated: October 17, 2025 at 06:42am
Listed by:
SABRINA JAMES 971-218-9349,
Smi Real Estate,
DANIEL MCKINNEY,
Smi Real Estate
Source: WVMLS,MLS#: 834296
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
Dining room
- Features: Area (Combination)
Heating
- Natural Gas, Forced Air
Appliances
- Included: Dishwasher, Disposal, Electric Range, Gas Water Heater
Features
- Breakfast Room/Nook
- Flooring: Carpet, Laminate
- Basement: Full,Finished
- Has fireplace: Yes
- Fireplace features: Living Room
Interior area
- Total structure area: 2,272
- Total interior livable area: 2,272 sqft
Property
Features
- Has view: Yes
- View description: Territorial
Lot
- Size: 6,300 Square Feet
- Features: Irregular Lot
Details
- Parcel number: 595235
- Zoning: RM2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Cedar, Shake Siding
- Foundation: Continuous
- Roof: Composition
Condition
- New construction: No
- Year built: 1901
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: University Addition
HOA
- Has HOA: No
Location
- Region: Salem
Financial & listing details
- Price per square foot: $218/sqft
- Tax assessed value: $382,550
- Annual tax amount: $3,041
- Price range: $495K - $495K
- Date on market: 10/6/2025
- Listing agreement: Exclusive Right To Sell
- Listing terms: Land Sales Contract,FHA,Cash,Assumable,Conventional
- Exclusions: Tenant belongings
- Total actual rent: 3500
Estimated market value
$489,900
$465,000 - $514,000
$1,395/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 10/6/2025 | Listed for sale | $495,000+59.7%$218/sqft |
Source:  WVMLS #834296 Report a problem | ||
| 6/12/2024 | Listing removed | $310,000$136/sqft |
Source: WVMLS #776817 Report a problem | ||
| 4/2/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 3/26/2024 | Listed for rent | $1,250+25.6%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/22/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,041 +3% | $154,900 +6.1% |
| 2023 | $2,952 +2.9% | $146,010 |
| 2022 | $2,869 +2.9% | $146,010 +3% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,878/mo
Principal & interest
$2371
Property taxes
$334
Home insurance
$173
Climate risks
Neighborhood: Southeast Salem
Nearby schools
GreatSchools rating
- 7/10Bush Elementary SchoolGrades: K-5Distance: 0.1 mi
- 5/10Leslie Middle SchoolGrades: 6-8Distance: 2.3 mi
- 5/10South Salem High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- Elementary: Bush
- Middle: Leslie
- High: South Salem
Source: WVMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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