Duplex with Private
For Sale
$849,000
3585 EMERALD St, Eugene, OR 97405
MultiFamily, Eugene, OR
Property Size3,376 SF
Lot Size0.28 Acres
Price / SF$251.48
Days on Market97
Property Features for 3585 EMERALD St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 8, Bedroom 7, Bedroom 1, Bedroom 2, Bathroom 2
View
Valley, City
Elementary school
Camas Ridge
Middle school
Spencer Butte
High school
South Eugene
Directions
Amazon Parkway/30th to S on Potter, E on 32nd, S on Onyx.
Subdivision
_243
Standard status
Active
APN
0648947
Size
3,376 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
18-03-08-13-11101
Tax Annual Amount
5134
Legal Description
18-03-08-13-11101
Utilities
Heating system
Ceiling
Cooling system
Wall Unit(s)
Amenities
garage
private backyard
paved patio
washer/dryer hookups
wood-burning fireplace
balcony
city view
Building Details
Year built
1968
Floors in Building
2
Number of units
2
Roof type
Metal
Listing Agency:
Amy Dean Real Estate, Inc.
(541) 554-4442
Listed By:
Amy Dean · License #200504349
(541) 554-4442
Added: May 28
Changed: Aug 19
Last Checked: Sep 1 at 8:06AM
MLS# 795687224
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 R1-zoned duplex contains 3,376 square feet across two residential units. Each side offers four bedrooms, two full bathrooms, 1,688 square feet, a one-car garage, additional driveway parking, a private backyard with a paved patio, washer/dryer hookups, a wood-burning fireplace, and a balcony. The property was built in 1968 and features a metal roof, ceiling heating, and wall-unit cooling.
Located in Eugene’s South Hills area, the property is near bike paths, parks, shopping, Lane Community College, and the University of Oregon. The balconies provide city views, adding an outdoor feature to each unit’s residential layout.
Located in Eugene’s South Hills area, the property is near bike paths, parks, shopping, Lane Community College, and the University of Oregon. The balconies provide city views, adding an outdoor feature to each unit’s residential layout.
Key Highlights
- Two‑unit duplex with 3,376 square feet total
- Each unit includes 4 bedrooms, 2 full baths, and 1,688 square feet
- R1 zoning on a 0.28‑acre lot
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
$30,278
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
3.57%
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%
$605,560
$605.6K
Cap Rate 7%
$432,543
$432.5K
Cap Rate 9%
$336,422
$336.4K
Market Conditions
NOI Build-Up for 3,376 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
$43.8K $12.96/SF
− Vacancy
−$499 −$0.15/SF
EGI
$43.3K $12.81/SF
− OpEx
−$13.0K −$3.84/SF
NOI
$30.3K $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%
$605,560
Cap Rate 7%
$432,543
Cap Rate 9%
$336,422
Alternative Uses
Best Use
Multifamily LT 5
$432.5K
$378.5K – $504.6K
NOI $30,278 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$377.4K
$330.2K – $440.3K
NOI $26,417 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,301 @ 7.0% cap · market cap 8.40%
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
247
Businesses Nearby
Explore this area
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
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 residential units include garages, paved patios, wood-burning fireplaces, and washer/dryer hookups.
Where is this duplex located?
The property is located at 3585 EMERALD St Eugene, OR.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,376 square feet total; Each unit includes 4 bedrooms, 2 full baths, and 1,688 square feet; R1 zoning on a 0.28‑acre lot
