Tenant-Occupied Duplex with
For Sale
$649,000
2074 NE Chanel Court, Bend, OR 97701
Residential Income, Bend, OR
Property Size2,376 SF
Lot Size0.23 Acres
Price / SF$273.15
Days on Market20
Property Features for 2074 NE Chanel Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RES
Parking features
Driveway
Window features
Double Pane Windows
Patio and Porch features
Deck
Interior features
Breakfast Bar, Ceiling Fan(s), Linen Closet, Primary Downstairs, Shower/Tub Combo, Walk-In Closet(s)
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Microwave, Oven, Refrigerator, Washer, Water Heater
Subdivision
Pilot Butte Park Est
Elementary school
Juniper Elem
Middle school
Pilot Butte Middle
High school
Bend Sr High
Standard status
Active
APN
194743
Size
2,376 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5159
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
walk-in closets
breakfast bar
gas fireplace
dedicated laundry room
backyard patio
fenced private outdoor space
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Concrete
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Stephanie Peters
(503) 799-0220
Added: Aug 7
Changed: Aug 25
Last Checked: Aug 26 at 12:06AM
MLS# 220226861
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 2,376-square-foot duplex contains two 2-bedroom, 2-bathroom residences, both currently occupied by tenants. Each unit includes walk-in closets, a breakfast bar, a gas fireplace, a dedicated laundry room, a private 1-car garage, an additional assigned parking space, a backyard patio, and a fenced private outdoor area. Recent property improvements include carpet installed in 2023, along with a newer microwave and dishwasher. The ranch-style building was constructed in 1998 and has forced-air heating, window or wall-unit cooling, public water, public sewer, and a composition roof.
Set on 0.23 acres in a cul-de-sac at the base of Pilot Butte, the duplex is positioned on Bend’s Northeast side. Shopping, dining, recreation, the hospital, and commuter routes are accessible from the property. One unit is leased month-to-month, while the other has a lease extending through December 2026.
Set on 0.23 acres in a cul-de-sac at the base of Pilot Butte, the duplex is positioned on Bend’s Northeast side. Shopping, dining, recreation, the hospital, and commuter routes are accessible from the property. One unit is leased month-to-month, while the other has a lease extending through December 2026.
Key Highlights
- 2,376‑square‑foot duplex on a 0.23‑acre parcel
- Two 2‑bedroom, 2‑bathroom units, both currently tenant occupied
- Each unit includes a private 1‑car garage and an additional dedicated parking space
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
$33,331
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
5.14%
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%
$666,620
$666.6K
Cap Rate 7%
$476,157
$476.2K
Cap Rate 9%
$370,344
$370.3K
Market Conditions
NOI Build-Up for 2,376 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
$51.3K $21.60/SF
− Vacancy
−$3.7K −$1.56/SF
EGI
$47.6K $20.04/SF
− OpEx
−$14.3K −$6.01/SF
NOI
$33.3K $14.03/SF
Area
Bend, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$666,620
Cap Rate 7%
$476,157
Cap Rate 9%
$370,344
Alternative Uses
Best Use
Multifamily LT 5
$476.2K
$416.6K – $555.5K
NOI $33,331 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$434.7K
$380.4K – $507.2K
NOI $30,429 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$1.03M
$898.1K – $1.20M
NOI $71,850 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
Explore this area
Business Placement
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
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-bedroom residences feature private outdoor areas, fireplaces, dedicated laundry rooms, and individual parking accommodations.
Where is this duplex located?
The property is located at 2074 NE Chanel Court Bend, OR.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,376‑square‑foot duplex on a 0.23‑acre parcel; Two 2‑bedroom, 2‑bathroom units, both currently tenant occupied; Each unit includes a private 1‑car garage and an additional dedicated parking space
