Updated Two-Unit
For Sale
$599,000
1259 MONROE St, Eugene, OR 97402
MultiFamily, Eugene, OR
Property Size2,358 SF
Price / SF$254.03
Days on Market60
Property Features for 1259 MONROE St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
S-JW
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Subdivision
JEFFERSON WESTSIDE NEIGHBORS
Elementary school
Cesar Chavez
Middle school
Arts & Tech
High school
Churchill
Directions
13th Ave to Monroe or 11th Ave to Monroe
Standard status
Active
APN
0271922
Size
2,358 SF
Taxes and HOA fees
Tax Description
17-03-31-32-09500
Tax Annual Amount
3968
Legal Description
17-03-31-32-09500
Utilities
Heating system
Ductless (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
washer/dryer
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
Mary Reilly
(541) 912-4140
Added: Jul 4
Changed: Sep 1
Last Checked: Sep 1 at 9:06AM
MLS# 178796018
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 contains two 2-bedroom, 1-bath units totaling 2,358 square feet. The front residence offers 954 square feet of living area, partial furnishings, a new heat pump with ductless mini-splits, and a roof installed in 2023. It also includes 524 square feet of unfinished space. The rear residence provides 880 square feet and has a long-term tenant. Each unit has its own washer and dryer, while two addresses and separate utility meters support distinct occupancy arrangements. A detached one-car garage is included, and the property is zoned S-JW.
The property is located one mile from the University of Oregon and near the Lane County Historical Museum and Lane Events Center. Walk Score and Bike Score are reported at 80 and 100, respectively.
The property is located one mile from the University of Oregon and near the Lane County Historical Museum and Lane Events Center. Walk Score and Bike Score are reported at 80 and 100, respectively.
Key Highlights
- Two 2‑bedroom, 1‑bath units with 2,358 square feet total
- Front unit includes 954 sq ft of living space and 524 sq ft of unfinished area
- New heat pump, ductless mini‑splits, and roof installed in 2023
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
$21,148
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
3.53%
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%
$422,960
$423.0K
Cap Rate 7%
$302,114
$302.1K
Cap Rate 9%
$234,978
$235.0K
Market Conditions
NOI Build-Up for 2,358 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
$30.6K $12.96/SF
− Vacancy
−$348 −$0.15/SF
EGI
$30.2K $12.81/SF
− OpEx
−$9.1K −$3.84/SF
NOI
$21.1K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$422,960
Cap Rate 7%
$302,114
Cap Rate 9%
$234,978
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.4K – $352.5K
NOI $21,148 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$263.6K
$230.6K – $307.5K
NOI $18,451 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$711.4K
$622.5K – $830.0K
NOI $49,801 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,667
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
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 - Two residences include private laundry, separate utility metering, and a detached garage.
Where is this duplex located?
The property is located at 1259 MONROE St Eugene, OR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units with 2,358 square feet total; Front unit includes 954 sq ft of living space and 524 sq ft of unfinished area; New heat pump, ductless mini‑splits, and roof installed in 2023
