Duplex With Covered
For Sale
$400,000
Pending
241 W Bolz Road, Phoenix, OR 97535
Residential Income, Phoenix, OR
Property Size2,224 SF
Lot Size0.11 Acres
Days on Market76
Property Features for 241 W Bolz Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2
Parking features
Carport, Assigned, On Street
Window features
Vinyl Frames, Double Pane Windows
Patio and Porch features
Porch
Interior features
Laminate Counters, Linen Closet, Shower/Tub Combo
Appliances
Instant Hot Water, Oven, Range, Water Heater
Subdivision
Gemini Estates Subdivision
Lot features
Level
View
Valley
Elementary school
Phoenix Elem
Middle school
Talent Middle
High school
Phoenix High
Standard status
Pending
APN
10627707
Size
2,224 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3144
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Amenities
private fenced patio
grassy yard
covered parking
Building Details
Year built
1979
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Frame
Roof type
Composition, Membrane
Architectural style
Contemporary
Additional Structures
Storage
Listing Agency:
John L. Scott Ashland
(541) 488-1311
Listed By:
Scott Lewis · License #200604146
(541) 779-3611
Added: Jun 15
Changed: Aug 28
Last Checked: Aug 29 at 8:06AM
MLS# 220223408
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 2,224-square-foot duplex was built in 1979 and features a contemporary frame design with two upstairs bedrooms, bright kitchen and dining areas, and generous storage. Interior finishes include laminate counters, carpet, and laminate flooring, while shower/tub combinations and linen closets add practical utility. Each unit has a private fenced patio, and the property includes a grassy front yard with rear covered parking.
The 0.11-acre property is served by public water and public sewer. Heating and cooling are provided by heat pump systems, with central air noted for cooling. Additional improvements include a composition and membrane roof, porch areas, assigned parking, carport parking, and on-street parking.
The 0.11-acre property is served by public water and public sewer. Heating and cooling are provided by heat pump systems, with central air noted for cooling. Additional improvements include a composition and membrane roof, porch areas, assigned parking, carport parking, and on-street parking.
Key Highlights
- 2,224‑square‑foot duplex on a 0.11‑acre property
- Two upstairs bedrooms with kitchen, dining, and storage areas
- Private fenced patio serving each unit
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
$23,833
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
5.96%
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%
$476,660
$476.7K
Cap Rate 7%
$340,471
$340.5K
Cap Rate 9%
$264,811
$264.8K
Market Conditions
NOI Build-Up for 2,224 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
$36.0K $16.20/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$34.0K $15.31/SF
− OpEx
−$10.2K −$4.59/SF
NOI
$23.8K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /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%
$476,660
Cap Rate 7%
$340,471
Cap Rate 9%
$264,811
Alternative Uses
Best Use
Multifamily LT 5
$340.5K
$297.9K – $397.2K
NOI $23,833 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$298.8K
$261.5K – $348.6K
NOI $20,917 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$536.8K
$469.7K – $626.3K
NOI $37,577 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 97535, OR
5,015
Population
2,104
Households
2.4
Avg Household Size
46
Median Age
30%
College-Educated
97%
High-School Grad
3.3 sq mi
ZIP Area
1,520
Density / Sq Mi
$60,451
Median Household Income
$35,000
Median Earnings
$1,284
Median Rent
$374,600
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-story duplex with private fenced patios, storage, and rear covered parking.
Where is this duplex located?
The property is located at 241 W Bolz Road Phoenix, OR.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,224‑square‑foot duplex on a 0.11‑acre property; Two upstairs bedrooms with kitchen, dining, and storage areas; Private fenced patio serving each unit
