Duplex with Separate Utility
For Sale
$325,000
1128 W Main Street, Medford, OR 97501
Residential Income, Medford, OR
Property Size1,731 SF
Lot Size0.11 Acres
Price / SF$187.75
Days on Market132
Property Features for 1128 W Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
C-C
Parking features
Driveway
Window features
Wood Frames
Basement
Partial, Unfinished
Appliances
Range, Water Heater
Elementary school
Check with District
Middle school
Check with District
High school
Check with District
Standard status
Active
APN
10396519
Size
1,731 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2406
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Central Air, Heat Pump, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 770-3325
Listed By:
Karla Jefferson · License #201221150
(541) 941-3719
Added: Apr 20
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
MLS# 220219688
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,731-square-foot duplex contains two residential units within a frame building constructed in 1928. The main-level apartment includes central heating and air conditioning along with a new water heater. The upper apartment is reached by newer stairs and has a new natural-gas heater. Interior finishes include vinyl and carpet flooring, while the composition roof and public water and sewer support the property’s existing residential configuration.
Separate water and gas meters serve the units. Both occupancies are month-to-month, and the current tenants have expressed interest in remaining. The property includes driveway parking and is located at 1128 W Main Street in Medford, Oregon, within the 97501 ZIP code.
Separate water and gas meters serve the units. Both occupancies are month-to-month, and the current tenants have expressed interest in remaining. The property includes driveway parking and is located at 1128 W Main Street in Medford, Oregon, within the 97501 ZIP code.
Key Highlights
- Two‑unit residential property totaling 1,731 square feet
- Separate water and gas meters for the units
- Built in 1928 on a 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,550
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$371,000
$371.0K
Cap Rate 7%
$265,000
$265.0K
Cap Rate 9%
$206,111
$206.1K
Market Conditions
NOI Build-Up for 1,731 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.0K $16.20/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$26.5K $15.31/SF
− OpEx
−$7.9K −$4.59/SF
NOI
$18.5K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$371,000
Cap Rate 7%
$265,000
Cap Rate 9%
$206,111
Alternative Uses
Best Use
Multifamily LT 5
$265.0K
$231.9K – $309.2K
NOI $18,550 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$232.6K
$203.5K – $271.3K
NOI $16,280 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$417.8K
$365.6K – $487.5K
NOI $29,247 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible occupancy with individually metered water and gas service.
Where is this duplex located?
The property is located at 1128 W Main Street Medford, OR.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit residential property totaling 1,731 square feet; Separate water and gas meters for the units; Built in 1928 on a 0.11‑acre lot
