Renovated Duplex with Storage
For Sale
Under Contract
$450,000
3361 Camp Joy Road, Grants Pass, OR 97526
Residential Income, Grants Pass, OR
Property Size2,520 SF
Lot Size1.84 Acres
Price / SF$178.57
Days on Market166
Property Features for 3361 Camp Joy Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Rr5; Rural Res 5 Ac
Parking features
Driveway
Window features
Double Pane Windows, Vinyl Frames, Aluminum Frames
Patio and Porch features
Porch
Interior features
Double Vanity, Fiberglass Stall Shower, Laminate Counters, Open Floorplan, Shower/Tub Combo, Smart Thermostat
Appliances
Dishwasher, Disposal, Dryer, Oven, Range, Range Hood, Refrigerator, Washer, Water Heater
Subdivision
Plumlee Estates Subdivision
Lot features
Fenced, Garden, Landscaped, Level
View
Territorial
Elementary school
Manzanita Elem
Middle school
Fleming Middle
High school
North Valley High
Directions
From I5 North-Take Exit 61 -Left Merlin Rd-Left Monument Drive-Right Camp Joy-.2 Miles to 3361.
Standard status
Active Under Contract
APN
350626D0002300
Size
2,520 SF
Lot size
1.84 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2134
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Well
Building Details
Year built
1982
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Frame
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
RE/MAX Integrity Grants Pass · RE/MAX International
(541) 955-8483
Listed By:
Mel Jones
(541) 770-3325
Added: Mar 26
Changed: Sep 7
Last Checked: Sep 7 at 4:06PM
MLS# 220217893
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 duplex contains two fully renovated three-bedroom, one-bath units, each measuring 1,260 square feet. Interior updates include vinyl flooring, fresh paint, smart thermostats, revised heating and cooling equipment, updated plumbing fixtures, and enlarged bathrooms with double vanities. The property also includes two additional 1,260-square-foot storage areas, a porch, driveway parking, and fenced outdoor space with a designated garden or dog-run area.
Set on 1.84 acres at 3361 Camp Joy Road in Grants Pass, the property is served by a private well and septic tank. Exterior improvements include vinyl windows, a composition roof replaced in 2016, refreshed gutters and exterior paint, a new well house, and fencing around the ground-level unit. The estimated cap rate is 6.25%.
Set on 1.84 acres at 3361 Camp Joy Road in Grants Pass, the property is served by a private well and septic tank. Exterior improvements include vinyl windows, a composition roof replaced in 2016, refreshed gutters and exterior paint, a new well house, and fencing around the ground-level unit. The estimated cap rate is 6.25%.
Key Highlights
- Two 1,260‑square‑foot units, each with 3 bedrooms and 1 bathroom
- Two additional 1,260‑square‑foot storage areas
- 1.84‑acre property at 3361 Camp Joy Road, Grants Pass, OR 97526
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
$20,469
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
4.55%
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%
$409,380
$409.4K
Cap Rate 7%
$292,414
$292.4K
Cap Rate 9%
$227,433
$227.4K
Market Conditions
NOI Build-Up for 2,520 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
$30.8K $12.24/SF
− Vacancy
−$1.6K −$0.64/SF
EGI
$29.2K $11.60/SF
− OpEx
−$8.8K −$3.48/SF
NOI
$20.5K $8.12/SF
Area
Josephine County, OR
Vacancy
5.20%
Lease Rate
$12.24 /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%
$409,380
Cap Rate 7%
$292,414
Cap Rate 9%
$227,433
Alternative Uses
Best Use
Multifamily LT 5
$292.4K
$255.9K – $341.2K
NOI $20,469 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$271.4K
$237.5K – $316.7K
NOI $19,000 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$571.4K
$500.0K – $666.6K
NOI $39,997 @ 7.0% cap · market cap 8.89%
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
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
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 updated residences are supported by separate storage areas, fenced grounds, and driveway parking.
Where is this duplex located?
The property is located at 3361 Camp Joy Road Grants Pass, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two 1,260‑square‑foot units, each with 3 bedrooms and 1 bathroom; Two additional 1,260‑square‑foot storage areas; 1.84‑acre property at 3361 Camp Joy Road, Grants Pass, OR 97526
