1540 Salem (-1530) Av SE, Albany, OR 97321 | MLS #841986 | Cascade Hasson Sotheby’s International Realty
 
Listing provided courtesy of EXP REALTY, LLCMLS# 841986MLS ProviderContact Information: 503-559-2489
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Rare opportunity to own two homes on one tax lot! Whether you're looking for multi-generational living, rental income, or a flexible investment, this property offers endless possibilities. The second home is currently operating as a fully furnished mid-term rental, generating $2,500/month in income. Live in one home while offsetting your mortgage with the other, or keep both as income-producing properties. A unique setup with built-in flexibility and earning potential! Seller is a licensed real estate agent Here's an additional description that keeps a casual, buyer-focused tone:What makes this property truly special is that each home offers its own unique charm and lifestyle. The vacant home is move-in ready and features brand-new carpet and laminate flooring, making it an easy transition for an owner-occupant or future tenant. Step outside onto the spacious deck and enjoy peaceful views overlooking Periwinkle Creek—a perfect spot for your morning coffee, unwinding after a long day, or simply enjoying the sights and sounds of nature right from your backyard.The second home sits directly across from the iconic King Kone, putting one of Albany's most beloved local landmarks just steps away. This home has been meticulously maintained and features an immaculate bathroom remodel that blends modern style with everyday functionality. Currently operating as a fully furnished mid-term rental, it generates $2,500 per month in income and has proven itself as a strong revenue-producing asset.Whether you're looking to create a multi-generational living arrangement, house extended family nearby while maintaining privacy, live in one home and rent the other, or expand your real estate portfolio with a property that already has established income, the possibilities here are hard to find. Opportunities like this—two homes, one tax lot, income potential, creek views, and flexible living arrangements—don't come along often.

Source: Willamette Valley MLS, MLS#: 841986

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  • Property Type
    Residential Income
  • Lot
    0.66 acres

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  • Median Age
    42
  • Population Density
    391
  • College Educated
    45%
  • Estimated Median Income
    $76,107
  • Estimated Total Home Owners
    7,801
  • Estimated Total Renters
    2,606
  • Owner / Renter Divide
    75% / 25%
  • Estimated Average Household Size
    3
  • Total Population
    27,131
  • Community data courtesy of LiveBy, Inc.

Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

History

Date Event Value Agent
6/22/2026Source: Willamette Valley MLS Added to Database
June 22, 2026