Duplex with One Unit
For Sale
$357,211
121 Lincoln Street, Klamath Falls, OR 97601
MULTI_FAMILY - Other - Klamath Falls, OR
Property Size1,944 SF
Lot Size0.12 Acres
Price / SF$183.75
Days on Market60
Property Features for 121 Lincoln Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
MD
Parking features
Carport, Driveway
Window features
Double Pane Windows, Aluminum Frames
Patio and Porch features
Deck
Interior features
Laminate Counters, Shower/Tub Combo
Appliances
Dishwasher, Oven, Range, Range Hood, Refrigerator, Water Heater
Subdivision
Klamath Falls -Ewauna Heights Addition
Lot features
Fenced, Sloped
Elementary school
Joseph Conger Elem
Middle school
Ponderosa Middle
High school
Klamath Union High School
Directions
Up 2nd street from Main. Left on Lincoln. Unit on right.
Standard status
Active
APN
475104
Size
1,944 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2371
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Water source
Public
Building Details
Year built
1981
Floors in Building
2
Number of units
2
Flooring type
Carpet, Simulated wood, Vinyl, Laminate
Building materials
Block, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Candi Sonerholm · License #920300241
(541) 891-4664
Added: Jun 4
Changed: Aug 1
Last Checked: Aug 2 at 7:06PM
MLS# 220222773
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 duplex has three bedrooms in each unit and is offered in nice condition. One side is intentionally vacant to make it easier to view the property. Unit 119 features new flooring in the kitchen, a newer refrigerator, window coverings, and a toilet, along with washer/dryer hook ups. It is currently under a one-year lease and is managed by First Choice. Unit 121 has new paint, new carpet, and luxury vinyl plank flooring in the kitchen and front room, plus new window coverings, and it is vacant. Washer/dryer hook ups are also included.
The roof is less than 2 years old, and exterior paint is approximately 1 year old. The owner pays the first portion of water and sewer while tenants split the remaining balance; tenants pay their own electric. Additional features include block and frame construction, forced-air electric heat, public water and public sewer, a composition roof, a deck, and carport and driveway parking. The property was built in 1981 and totals 1,944 SF.
The roof is less than 2 years old, and exterior paint is approximately 1 year old. The owner pays the first portion of water and sewer while tenants split the remaining balance; tenants pay their own electric. Additional features include block and frame construction, forced-air electric heat, public water and public sewer, a composition roof, a deck, and carport and driveway parking. The property was built in 1981 and totals 1,944 SF.
Key Highlights
- Duplex with three bedrooms in each unit
- One side vacant to allow easy viewing
- Unit 119: new kitchen flooring, newer refrigerator, window coverings, toilet, washer/dryer hook ups
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.7k | $12.72 |
| − Vacancy | −$2.1k | −$1.08 |
| EGI | $22.6k | $11.64 |
| − OpEx | −$6.8k | −$3.49 |
| NOI | $15.8k | $8.15 |
1,944 SF · lease $12.72/SF/yr · vacancy 8.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.1K
NOI $15,845 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$200.4K
$175.3K – $233.8K
NOI $14,026 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$397.3K
$347.7K – $463.6K
NOI $27,814 @ 7.0% cap · market cap 7.79%
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
1,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 97601, OR
23,264
Population
10,936
Households
2.1
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
577.8 sq mi
ZIP Area
40
Density / Sq Mi
$53,333
Median Household Income
$31,011
Median Earnings
$972
Median Rent
$266,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom duplex in nice condition, with one side vacant to allow easy showings.
Where is this duplex located?
The property is located at 121 Lincoln Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $357,211.
What are key features of this property?
This property features: Duplex with three bedrooms in each unit; One side vacant to allow easy viewing; Unit 119: new kitchen flooring, newer refrigerator, window coverings, toilet, washer/dryer hook ups
