231 Commercial St NE, Salem, OR, 97301
About This Home
Step into the largest of the Downtown Salem Loft Condominiums. This is a rare 3-bedroom, 1-bath residence in the iconic Starkey-McCully building, where speakeasy legends still whisper through the walls. Original hardwood floors from the 1800s anchor this extraordinary space, offering a warmth and authenticity no modern build can match. Soaring ceilings and thoughtful design create an airy, livable layout that honors the building's storied past while embracing today's comforts. Unwind in the jetted tub or prep meals with a premium Sub-Zero refrigerator; modern luxuries that complement the loft's timeless character. Location defines this opportunity. Near Salem Hospital, Willamette University, and the Oregon State Capitol. An unbeatable advantage for professionals, students, or savvy investors. Currently thriving as a fully furnished short-term rental, this turnkey property offers immediate income potential in one of Salem's most historic addresses. Own more than a home, own a piece of Salem's history.
Getting Around
Very Walkable
Good Transit
Very BikeableSchools
Construction
Condition
- Year built: 1867
Materials
- Foundation: Slab
- Roof: See Remarks
Type & Style
- Home type: Condo
- Property subType: Condominium
Interior
Appliances
- Appliances included: Dishwasher,Disposal,Gas Range,Built-In Range,Gas Water Heater
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
Dining Room
- Features: Area (Combination)
Features
- Den,High Speed Internet,Smart Home
- Flooring: Vinyl,Wood
Heating
- Heating features: Forced Air
Interior Area
- Total structure area: 1,906
- Total interior livable area: 1,906 sqft
Kitchen
- Level: Main
Living Room
- Level: Main
Master Bedroom
- Level: Main
Property
Features
- Levels: One
- Stories: 1
- Patio & porch: Deck
- Exterior features: Orange
- Has view: Yes
- View description: Territorial
Lot
- Lot size: 4,356 sqft
Parking
- Parking features: No Garage
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Strong Wind
- Heat Wave
- Lightning
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Marion County and Oregon
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $2,953 | $35,436 |
| Home Insurance * | $159 | $1,908 |
| Property Taxes | $403 | $4,836 |
| Electricity | $176 | $2,119 |
| Total | $3,691 | $44,292 |
Income You'd Need if You Spent...
Oregon FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-02-05 | Listed for sale | $599,000 |
View on Zillow