Updated Duplex with Private
For Sale
$757,000
2180 W 24TH Ave, Eugene, OR 97405
MultiFamily, Eugene, OR
Property Size2,988 SF
Lot Size0.21 Acres
Price / SF$253.35
Days on Market86
Property Features for 2180 W 24TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 2
View
City
Elementary school
Cesar Chavez
Middle school
Arts & Tech
High school
Churchill
Directions
18th to South on Cleveland to 24th
Subdivision
_244
Standard status
Active
APN
0702413
Size
2,988 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
TL 00901
Tax Annual Amount
8406
Legal Description
TL 00901
Utilities
Heating system
Forced Air
Cooling system
Heat Pump
Water front
1
Amenities
private decks
covered parking
private storage unit
Level 2 EV charger
Building Details
Year built
1968
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 345-8100
Listed By:
Renee Swartz · License #960400135
(541) 302-4884
Added: Jul 11
Changed: Sep 28
Last Checked: Oct 4 at 10:06PM
MLS# 337790578
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 2,988-square-foot duplex on a 0.21-acre lot was built in 1968 and includes two residential units with separate private decks. The east unit is tenant occupied and offers three bedrooms, an office, a spacious laundry room, a wood-burning fireplace, updated flooring, and a renovated bathroom. The vacant west unit has undergone extensive remodeling, including a refreshed kitchen with granite countertops, farmhouse sink, stainless steel appliances, and refinished cabinetry. Additional improvements include updated lighting, interior doors, flooring, paint, sliding doors, a walk-in closet, a gas fireplace, and a tankless water heater.
Each unit has covered parking, a private storage unit, and access to a Level 2 EV charger. The property includes mature landscaping and a year-round creek, while the west unit is located across the street from a nature park with a creek. Heating is provided by forced air, with heat pump cooling, composition roofing, and R-1 zoning.
Each unit has covered parking, a private storage unit, and access to a Level 2 EV charger. The property includes mature landscaping and a year-round creek, while the west unit is located across the street from a nature park with a creek. Heating is provided by forced air, with heat pump cooling, composition roofing, and R-1 zoning.
Key Highlights
- 2,988‑square‑foot duplex on a 0.21‑acre lot
- Two units; east unit is tenant occupied and west unit is vacant
- West unit remodeled with granite kitchen counters, stainless appliances, updated flooring, and a tankless water heater
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
$26,798
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
3.54%
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%
$535,960
$536.0K
Cap Rate 7%
$382,829
$382.8K
Cap Rate 9%
$297,756
$297.8K
Market Conditions
NOI Build-Up for 2,988 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
$38.7K $12.96/SF
− Vacancy
−$441 −$0.15/SF
EGI
$38.3K $12.81/SF
− OpEx
−$11.5K −$3.84/SF
NOI
$26.8K $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%
$535,960
Cap Rate 7%
$382,829
Cap Rate 9%
$297,756
Alternative Uses
Best Use
Multifamily LT 5
$382.8K
$335.0K – $446.6K
NOI $26,798 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$334.0K
$292.3K – $389.7K
NOI $23,381 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
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Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with remodeled interiors, covered parking, private storage, and Level 2 EV charger access.
Where is this duplex located?
The property is located at 2180 W 24TH Ave Eugene, OR.
What is the asking price?
The asking price for this property is $757,000.
What are key features of this property?
This property features: 2,988‑square‑foot duplex on a 0.21‑acre lot; Two units; east unit is tenant occupied and west unit is vacant; West unit remodeled with granite kitchen counters, stainless appliances, updated flooring, and a tankless water heater
