Listed by RHEOLA COY • PREMIERE PROPERTY GROUP, LLC ALBANY (Cell: 503-999-5088).

For sale

$554,900

Est. $3,729/mo —

•

2,400

sq ft

5445 Reed Ln SE, Salem, OR 97306

About this home

NEW PRICE, NEW OPPORTUNITY! Unbeatable value awaits in this beautifully updated 2,400 SQ FT, 3-bedroom, 2-bath home in an established South Salem neighborhood. Situated on a pristine 0.29-acre lot with NO HOA, this home is surrounded by beautifully maintained properties and offers ultimate privacy and convenience. EXTENSIVE 2025 & 2026 UPDATES: The property boasts a brand-new roof, new siding, fresh exterior and interior paint, new luxury vinyl plank flooring, new plush bedroom carpet, and a new insulated garage door. PREMIUM INTERIOR FEATURES: Inside, you'll find a bright, comfortable living space highlighted by vaulted ceilings, granite countertops, stainless steel appliances, spacious bedrooms, and the cozy ambiance of both a wood-burning and an electric fireplace. OUTDOOR OASIS & BONUS SPACE: Step outside to an expansive deck perfect for relaxing or entertaining, complete with mature trees and a serene koi pond water feature. The oversized lot also provides ample room for RV parking, recreational toys, and additional storage. PRIME LOCATION: Hard to beat—just steps from Pringle Elementary School and Wes Bennett Park, and minutes from shopping, dining, and easy I-5 access.

Single-familyProperty Type

1990Year Built

0.29 acresLot Size

$231Price/Sq.Ft.

2 car garageParking

Listed by RHEOLA COY • PREMIERE PROPERTY GROUP, LLC ALBANY

Contact: Cell: 503-999-5088

Listing updated: Sep 21, 2026 at 11:56pm

Redfin checked: a few seconds ago

•Source:WVMLS #841558

Payment calculator

$3,729 per month

Principal and interest$3,066

Property taxes

$552

HOA dues

Home insurance

$111

Utilities

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Open houses

No upcoming open houses.

Nearby open houses (10)

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5675 Jeremy Vly SE Lot 9, Salem, OR 97306
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542 Sarah Renee Ave SE Lot 6, Salem, OR 97306
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1892 Cousteau Lp SE, Salem, OR 97302
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Chris Aldrich • Windermere Heritage

Around this home

Schools

K - 12
Preschool & daycare

Pringle Elementary School

Public K-5 • Assigned • 0.1mi

5/10

Judson Middle School

Public 6-8 • Assigned • 1.6mi

6/10

South Salem High School

Public 9-12 • Assigned • 3.4mi

5/10

Provided by GreatSchools

About South

Gateway

South Gateway, located between Commercial Street SE and I-5, is a residential and retail Salem neighborhood with big-box corridors and pockets of mid-century streets. The neighborhood’s character concentrates around the Commercial St SE and Kuebler Blvd SE crossroads, where shopping plazas, coffee counters, and service storefronts keep the sidewalks in motion. Ranch-style homes and newer subdivisions sit behind arterial roads, with cul-de-sacs and greenbelts shaping a quieter street rhythm. The I-5 edge reads as a working gateway, while interior blocks feel more buffered. Nearby trail segments and parks add a reset from the traffic lanes.

Provided by Walk Score and Local Logic

Offer insights

5445 Reed Ln SE · $554,900

Strong offer

$554K and above

75% chance or better to win

Why $554K+ is a strong offer

DAYS ON MARKET

The average home goes pending in 55 days.

SALE-TO-LIST

Most homes are selling 2% below list price.

About offer insights

Property details

Interior
Exterior
Finance

Kitchen

Bathroom

Bedroom

Living

Dining

Interior features
Living room and other room fireplaces (wood and electric)
High-speed internet access available
Smart home features (refer to remarks)
Garbage disposal

Bedrooms
Master bedroom on the upper level
Second bedroom on the upper level
Third bedroom on the upper level

Bathrooms
Two full bathrooms

Kitchen
Dishwasher
Electric range
All kitchen appliances included

Laundry & utility
Washer and dryer included
Main-level utility room

Flooring
Carpet
Tile
Laminate
Luxury vinyl plank

Heating & cooling
Wood heating
Central air conditioning
Heat pump
Forced air

Sale and tax history for 5445 Reed Ln SE

Sale History
Tax History

Date

Event

Price

WVMLS #841558

Sep 21, 2026

Relisted

—

Sep 18, 2026

Contingent

—

Sep 4, 2026

Price Changed

$554,900

$231/sq ft

Aug 6, 2026

Price Changed

$569,000

$237/sq ft

Jul 20, 2026

Price Changed

$585,000

$244/sq ft

Jun 17, 2026

Listed

$600,000

$250/sq ft

Public Records

Aug 12, 2014

Sold

$186,900

$78/sq ft

WVMLS #637174

Aug 6, 2011

Listing Removed

—

Jul 21, 2011

Contingent

—

Jul 12, 2011

Price Changed

$169,900

$71/sq ft

Jun 15, 2011

Price Changed

$177,500

$74/sq ft

Jun 11, 2011

Listing Removed

—

May 10, 2011

Price Changed

$189,900

$79/sq ft

Feb 4, 2011

Listed

$199,900

$83/sq ft

Public Records

Mar 22, 1996

Sold

$165,000

$69/sq ft

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Public record

Public record
Zoning

Beds

Baths

Stories

Lot width

—

Lot depth

—

Lot size

0.29 Acres

Year renovated

1990

Finished Sq. Ft.

2,400

Unfinished Sq. Ft.

—

Total Sq. Ft.

2,400

Year built

1990

Style

Single Family Residential

County

Marion County

APN

575420

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 31, 2026.

Residential Agriculture Zone

The purpose of the Residential Agriculture RA Zone is to implement the developing residential designation for the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The RA zone generally allows single family, two family, three, family, and four family residential uses, agricultural uses, and other uses that are compatible with and/or provide support and services to the residential area.

Permitted uses

Include but are not limited to:

Agriculture
Livestock production
Day care facility
General retail
Housing-Single unit
Housing-Multiple units
Infrastructure
Library
Housing-Mobile home park
Park & open space

Local insights from Redfin agents

Salem’s market is slower, with prices relatively steady and homes taking longer to sell. Sellers need competitive pricing, while buyers may have more time to decide and room to negotiate on price, closing costs, or repairs.
1 week ago • Salem
Cristian Martinez
Redfin Premier agent
164 deals
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Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 91° expected this year, 14 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

9/10 Air Factor

12 unhealthy days expected this year, 13 days in 30 years

Provided by First Street

Historical weather

Salem, OR • 97306

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

89/ 100

Very good sunlight

Sunscore

This home receives average direct sun exposure in Salem. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

9.9 hrs

5.2 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 5445 Reed Ln SE

$551,519

$3,381 under list price of $555K

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $546K to $668K.

SOLD SEP 18, 2026
$569,900 Last sold price
3 beds3 baths2,353 sq ft
2572 Dragon Fly Ct, Salem, OR 97306
$11/sq ft
smaller lot
26 years newer
SOLD AUG 21, 2026
$615,000 Last sold price
4 beds2.5 baths2,413 sq ft
5450 Woodmill Dr SE, Salem, OR 97306
Listing provided by wvmls
$24/sq ft
smaller lot
11 years newer
SOLD BY REDFIN SEP 25, 2026
$549,000 Last sold price
4 beds3 baths2,316 sq ft
5278 Berkshire Ct, Salem, OR 97306
$6/sq ft
7 years newer
SOLD JUN 17, 2026
$667,500 Last sold price
3 beds2 baths2,374 sq ft
2074 Celeen Ave SE, Salem, OR 97302
Listing provided by wvmls
$50/sq ft
smaller lot
25 years newer
SOLD SEP 25, 2026
$545,500 Last sold price
4 beds3 baths2,332 sq ft
2628 Landau St SE, Salem, OR 97306
$3/sq ft
36 years newer
SOLD JUL 22, 2026
$585,000 Last sold price
4 beds2.5 baths2,516 sq ft
2943 Monterey Ct SE, Salem, OR 97306
Listing provided by wvmls
$2/sq ft
smaller lot
7 years newer

Rental earnings

Est. $2,765 per month, based on comparable rentals

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Early Access listings

EARLY ACCESSREDFIN OPEN SUN, 11AM TO 1PM

$250,000

2 beds1.5 baths1,140 sq ft

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