Four-Unit Property with
For Sale
$969,000
2211 SW Quartz Avenue, Redmond, OR 97756
Residential Income, Redmond, OR
Property Size5,088 SF
Lot Size0.55 Acres
Price / SF$190.45
Days on Market114
Property Features for 2211 SW Quartz Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R3
Window features
Vinyl Frames, Double Pane Windows
Patio and Porch features
Deck, Patio
Interior features
Breakfast Bar, Ceiling Fan(s), Open Floorplan, Shower/Tub Combo, Solid Surface Counters, Tile Counters
Appliances
Dishwasher, Microwave, Oven, Range, Refrigerator, Water Heater
Subdivision
Steelhead Estates
Lot features
Fenced
Elementary school
Check with District
Middle school
Check with District
High school
Check with District
Directions
GPS may not take you there. Lot flags back - driveway is almost across Quartz from SW 22nd St
Standard status
Active
APN
193026
Size
5,088 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9437
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Zoned
Water source
Public
Building Details
Year built
1997
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Vinyl
Building materials
Frame
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Keller Williams Realty Central Oregon
(541) 585-3760
Listed By:
Brady Velikonia · License #201243904
(530) 521-8864
Added: May 1
Changed: Aug 21
Last Checked: Aug 22 at 3:06PM
MLS# 220220553
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 5,088-square-foot multifamily property comprises two duplex buildings on a 0.55-acre single tax lot. The configuration includes four 2BD/2BA units, each measuring approximately 1,272 SF per county records. Every residence includes an attached finished single-car garage and a private fenced backyard, with decks or patios among the outdoor features. The property was built in 1997 and is served by public water and public sewer. Both buildings have composition roofs installed within the last 12 months, and an on-site owner/manager storage shed provides space for property supplies. The units are 100% occupied, and there is no HOA.
The property sits on a private flag lot near Quartz Park and the Dry Canyon Trail system, with nearby shopping and access to Highway 97. The address is 2211 SW Quartz Avenue in Redmond, Oregon.
The property sits on a private flag lot near Quartz Park and the Dry Canyon Trail system, with nearby shopping and access to Highway 97. The address is 2211 SW Quartz Avenue in Redmond, Oregon.
Key Highlights
- Four 2BD/2BA units totaling 5,088 SF
- Approximately 1,272 SF per unit per county records
- 100% occupied across all four units
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
$71,376
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
7.37%
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%
$1,427,520
$1.4M
Cap Rate 7%
$1,019,657
$1.0M
Cap Rate 9%
$793,067
$793.1K
Market Conditions
NOI Build-Up for 5,088 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
$109.9K $21.60/SF
− Vacancy
−$7.9K −$1.56/SF
EGI
$102.0K $20.04/SF
− OpEx
−$30.6K −$6.01/SF
NOI
$71.4K $14.03/SF
Area
Deschutes County, 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%
$1,427,520
Cap Rate 7%
$1,019,657
Cap Rate 9%
$793,067
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$892.2K – $1.19M
NOI $71,376 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$930.9K
$814.5K – $1.09M
NOI $65,160 @ 7.0% cap · market cap 6.72%
Theoretical Best
Retail
$1.75M
$1.53M – $2.04M
NOI $122,576 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
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?
Quadplex - Four residential units offer private fenced yards and attached single-car garages.
Where is this quadplex located?
The property is located at 2211 SW Quartz Avenue Redmond, OR.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: Four 2BD/2BA units totaling 5,088 SF; Approximately 1,272 SF per unit per county records; 100% occupied across all four units
