Under-Construction
For Sale
$829,900
1251 brown, Woodburn, OR 97071
MultiFamily, Woodburn, OR
Property Size3,254 SF
Lot Size0.16 Acres
Price / SF$255.04
Days on Market34
Property Features for 1251 brown
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
res.
Bedrooms
6
Bathrooms
14
Full bathrooms
14
Rooms
Bathroom 11, Bathroom 7, Bathroom 2, Bathroom 14, Bathroom 9, Bathroom 5, Bedroom 3, Bathroom 4, Bedroom 6, Bathroom 8, Bathroom 6, Bathroom 1, Bathroom 3, Bathroom 10, Bedroom 4, Bedroom 2, Bathroom 12, Bathroom 13, Bedroom 1, Bedroom 5
Elementary school
Lincoln
Middle school
Valor
High school
Woodburn
Directions
cleveland to brown
Subdivision
_170
Standard status
Active
APN
New Construction
Size
3,254 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
lot2
Tax Annual Amount
4500
Legal Description
lot2
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
fenced yard
garage with EV charger
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
HomeSmart Realty Group · HomeSmart International
(971) 599-5865
Listed By:
Vassa Bodunov
(503) 951-1020
Added: Aug 4
Changed: Sep 2
Last Checked: Sep 6 at 2:06AM
MLS# 266470082
Copyright © 2026 Regional Multiple Listing Services. 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 is currently under construction and carries a 2026 year-built designation. The property contains 3,254 square feet on a 0.16-acre lot, with an open living, dining, and kitchen arrangement featuring stainless steel appliances. The layout also includes a primary suite with its own bathroom and main-floor laundry. Forced-air heating, central air, a composition roof, a garage with an EV charger, and a fenced yard are included. The grounds are fully landscaped and equipped with a sprinkler system.
Located in Woodburn, Oregon, the property is near new homes and I-5. Residential zoning is identified for the site.
Located in Woodburn, Oregon, the property is near new homes and I-5. Residential zoning is identified for the site.
Key Highlights
- 3,254‑square‑foot duplex on a 0.16‑acre lot
- Currently under construction with a 2026 year‑built designation
- Open living, dining, and kitchen area with stainless steel appliances
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
$24,764
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
2.98%
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%
$495,280
$495.3K
Cap Rate 7%
$353,771
$353.8K
Cap Rate 9%
$275,156
$275.2K
Market Conditions
NOI Build-Up for 3,254 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
$37.9K $11.64/SF
− Vacancy
−$2.5K −$0.77/SF
EGI
$35.4K $10.87/SF
− OpEx
−$10.6K −$3.26/SF
NOI
$24.8K $7.61/SF
Area
Marion County, OR
Vacancy
6.60%
Lease Rate
$11.64 /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%
$495,280
Cap Rate 7%
$353,771
Cap Rate 9%
$275,156
Alternative Uses
Best Use
Multifamily LT 5
$353.8K
$309.6K – $412.7K
NOI $24,764 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$328.8K
$287.7K – $383.6K
NOI $23,014 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$765.3K
$669.6K – $892.8K
NOI $53,570 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Explore this area
Business Placement
Demographics for 97071, OR
30,777
Population
10,595
Households
2.9
Avg Household Size
35
Median Age
17%
College-Educated
72%
High-School Grad
51.7 sq mi
ZIP Area
595
Density / Sq Mi
$70,130
Median Household Income
$35,927
Median Earnings
$1,382
Median Rent
$316,500
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 - Residentially zoned property with central air, a fenced yard, and fully landscaped grounds.
Where is this duplex located?
The property is located at 1251 brown Woodburn, OR.
What is the asking price?
The asking price for this property is $829,900.
What are key features of this property?
This property features: 3,254‑square‑foot duplex on a 0.16‑acre lot; Currently under construction with a 2026 year‑built designation; Open living, dining, and kitchen area with stainless steel appliances
