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    The Largest CRE Database in the US with Over 1 Million Listings

    1724 Crest St Klamath Falls, OR 97603

    Sponsored
    For Sale
    $275,000

    Multi Family, Traditional - Klamath Falls, OR

    Type:Multi Family
    Lot size:
    0.53 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 22 at 12:06 am

    Property Features for 1724 Crest St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Zoning
    RM - Medium Den
    APN
    524025,87559,875591
    Parking features
    Carport, Driveway, Garage, Gated, Heated, Workshop
    Interior features
    Ceiling Fan(s), Fiberglass Stall Shower, Laminate Counters, Shower/Tub Combo, Spa/Hot Tub
    Appliances
    Dishwasher, Range, Refrigerator, Washer
    Lot size
    0.53 Acres

    Utilities

    Heating system
    Forced Air, Heat Pump (Heating), Natural Gas
    Cooling system
    Heat Pump

    Building Details

    Year built
    1981
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Vinyl
    Building materials
    Frame
    Roof type
    Composition, Metal
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Dennis Hall

    Keller Williams (541) 608-0447

    Listing agent Dennis Hall (541) 608-0447 License #201212719

    Listing date Jan 15, 2026

    MLS# 220203914 Listing URL

    Copyright © 2026 Klamath County Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Investment Opportunity in Klamath

    This property presents a residential investment opportunity, featuring a three-bedroom, two-bathroom manufactured home situated on three lots. Zoned ''RM'' Medium Density Residential, the 0.53-acre property offers the potential to construct additional units. The existing home has a split floorplan, with a master bedroom and bath that includes a Jacuzzi tub. The other side of the home features two additional bedrooms and a bath. All bedrooms include large closets. The home also has a living room and a formal dining area. The kitchen is equipped with a newer stainless steel Frigidaire commercial-style gas range and a new Bosch stainless steel dishwasher. An oversized two-car garage is currently utilized as a shop and contains a walk-in freezer/cooler, as well as an additional large freezer. An attached carport is located alongside the garage. The home is accessed via an enclosed porch at the front of the house. The yard is enclosed with Cyclone fencing. The property also includes three storage buildings. Water, power, natural gas, and sewer are available at the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Klamath Falls
    County
    Klamath
    State
    Oregon
    Longitude
    -121.744521
    Latitude
    42.212239

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    FAQs

    What type of property is this?
    Residential income property - Three-bedroom home on three lots with development potential.
    Where is this residential income property located?
    The property is located at 1724 Crest St Klamath Falls, OR.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Zoned ''RM'' Medium Density Residential on .53 acres, offering significant development potential.; - Existing three-bedroom, two-bathroom manufactured home provides immediate living space or rental income.; - Property includes essential utilities (water, power, natural gas, and sewer) already in place.
    (541) 331-3039
    Request Owner's contact information
    1724 Crest St Klamath Falls, OR 97603
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    Klamath Falls, OR 97603
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1724 Crest St Klamath Falls, OR 97603
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    We can help!
    Listing Contact
    Dennis Hall
    Real Estate License ID: 02237378
    (541) 331-3039
    Learn more
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