Updated Duplex with Private
New
For Sale
$700,000
373 Iowa Street, Ashland, OR 97520
Residential Income, Ashland, OR
Property Size2,345 SF
Lot Size0.15 Acres
Price / SF$298.51
Days on Market2
Property Features for 373 Iowa Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2
Parking features
Driveway, Alley, Open
Window features
Double Pane Windows, Vinyl Frames
Patio and Porch features
Patio, Deck
Interior features
Built-in Features, Double Vanity, Laminate Counters, Linen Closet, Primary Downstairs, Shower/Tub Combo, Stone Counters, Walk-In Closet(s)
Exterior features
Fire Pit
Fireplace
1
Basement
Partial, Unfinished
Appliances
Dishwasher, Disposal, Dryer, Microwave, Oven, Range, Range Hood, Refrigerator, Washer
Subdivision
Highland Park Tract (ashland)
Lot features
Corner Lot, Drip System, Fenced, Garden, Landscaped, Level, Sprinkler Timer(s), Sprinklers In Front, Sprinklers In Rear
Elementary school
Walker Elem
Middle school
Ashland Middle
High school
Ashland High
Standard status
Active
APN
10573681
Size
2,345 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6207
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Zoned
Cooling system
Ductless
Water source
Public
Amenities
wood-burning fireplace
private fenced backyards
professionally landscaped grounds
drip irrigation
gravel patios
mini-split air conditioning
Building Details
Year built
1977
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Frame
Roof type
Composition
Architectural style
Ranch
Listing Agency:
John L. Scott Ashland
(541) 488-1311
Listed By:
Rowe Real Estate Team · License #201218617
(541) 708-3975
Added: Aug 29
Changed: Aug 30
Last Checked: Aug 30 at 6:06AM
MLS# 220227922
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 ranch-style duplex contains 2,345 square feet on a 0.15-acre lot and was substantially renovated from 2019 to 2022. Improvements include Daikin ductless mini-split systems, double-pane vinyl windows, updated flooring, trim, lighting, bathroom fixtures, appliances, and interior and exterior paint. Each residence has a wood-burning fireplace, two or three bedrooms, one-and-a-half or two full bathrooms, a private fenced backyard, and alley access to a separate one-car garage. The property also features patios, a deck, mature landscaping, fig and mimosa trees, boulder-edged walkways, drip irrigation, and gravel seating areas.
Located in Ashland, Oregon, the property is within an eight-minute walk of the Ashland Public Library. Public water and public sewer serve the property, while heating and cooling are provided through ductless systems. Additional features include open parking, a composition roof, and washer and dryer appliances.
Located in Ashland, Oregon, the property is within an eight-minute walk of the Ashland Public Library. Public water and public sewer serve the property, while heating and cooling are provided through ductless systems. Additional features include open parking, a composition roof, and washer and dryer appliances.
Key Highlights
- 2,345‑square‑foot duplex on a 0.15‑acre lot
- Renovated from 2019 to 2022 with updated systems, finishes, fixtures, and appliances
- Each unit includes 2 or 3 bedrooms and 1.5 or 2 full bathrooms
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
$25,130
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
3.59%
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%
$502,600
$502.6K
Cap Rate 7%
$359,000
$359.0K
Cap Rate 9%
$279,222
$279.2K
Market Conditions
NOI Build-Up for 2,345 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
$38.0K $16.20/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$35.9K $15.31/SF
− OpEx
−$10.8K −$4.59/SF
NOI
$25.1K $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%
$502,600
Cap Rate 7%
$359,000
Cap Rate 9%
$279,222
Alternative Uses
Best Use
Multifamily LT 5
$359.0K
$314.1K – $418.8K
NOI $25,130 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.6K
NOI $22,055 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$566.0K
$495.3K – $660.4K
NOI $39,621 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
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 - Renovated two-unit property with fireplaces, fenced outdoor areas, alley access, and individual garages.
Where is this duplex located?
The property is located at 373 Iowa Street Ashland, OR.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,345‑square‑foot duplex on a 0.15‑acre lot; Renovated from 2019 to 2022 with updated systems, finishes, fixtures, and appliances; Each unit includes 2 or 3 bedrooms and 1.5 or 2 full bathrooms
