Live-Work Property with Leased
223 1st Street Culver, OR 97734
223 1st Street, Culver, OR, 97734
$299,000
For Sale
$299,000
COMMERCIAL - Culver, OR
Property Size2,098 SF
Lot Size0.34 Acres
Price / SF$142.52
Days on Market9
Property Features for 223 1st Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Alley, Parking Lot
- Window features
- Vinyl Frames, Wood Frames, Double Pane Windows
- Patio and Porch features
- Deck
- Standard status
- Active
- APN
- 3269
- Size
- 2,098 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1976
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile, Laminate, Carpet
- Building materials
- Frame
- Roof type
- Asphalt
Listing Agency
Coldwell Banker Sun Country
(541) 447-4433
715 NW 3rd St, Prineville, OR
Listed by
Michael Boynton · License #201249802
(541) 420-9814
Added: Jul 9 Checked: Jul 17 at 5:06 am
MLS# 220224970
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 live-work property on a corner lot combines a single-level stick-built home with an income-producing commercial building. The home includes 2 bedrooms and 1 bathroom, with a large front porch, a fenced yard, paved parking, and a secure storage shed. The layout also allows room for an RV or boat. Both the home and the commercial building have new roofs, and the commercial building has been newly remodeled inside and is currently leased.
Located at 223 1st Street in Culver, Oregon, the property is described as being close to schools, parks, stores, and Lake Billy Chinook. Commercial tenants are currently interested in staying, and the home tenant is in the process of relocating.
The combination of a leased commercial component and a residential unit can support rental income, or the home and commercial space can be used together for a live and work setup.
Located at 223 1st Street in Culver, Oregon, the property is described as being close to schools, parks, stores, and Lake Billy Chinook. Commercial tenants are currently interested in staying, and the home tenant is in the process of relocating.
The combination of a leased commercial component and a residential unit can support rental income, or the home and commercial space can be used together for a live and work setup.
Key Highlights
- Single‑level home plus income‑producing commercial building on a corner lot in Culver, Oregon
- Home includes 2 bedrooms and 1 bathroom with fenced yard and a deck/patio porch area
- Commercial building is newly remodeled inside and currently leased with tenants who want to stay
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.9k | $25.20 |
| − Vacancy | −$4.0k | −$1.92 |
| EGI | $48.9k | $23.28 |
| − OpEx | −$22.0k | −$10.48 |
| NOI | $26.9k | $12.81 |
2,098 SF · lease $25.20/SF/yr · vacancy 7.60% · expense 45.00%
Alternative Uses
Best Use
Office B
$430.4K
$376.6K – $502.1K
NOI $30,128 @ 7.0% cap · market cap 10.08%
Second Best
Mixed Use
$422.6K
$369.8K – $493.0K
NOI $29,582 @ 7.0% cap · market cap 9.89%
Theoretical Best
Specialty Retail
$906.3K
$793.1K – $1.06M
NOI $63,444 @ 7.0% cap · market cap 21.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Single-level home plus a newly remodeled, currently leased commercial building on a corner lot with paved parking and storage.
Where is this live-work space located?
The property is located at 223 1st Street Culver, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Single‑level home plus income‑producing commercial building on a corner lot in Culver, Oregon; Home includes 2 bedrooms and 1 bathroom with fenced yard and a deck/patio porch area; Commercial building is newly remodeled inside and currently leased with tenants who want to stay
