Quadplex on Large Corner
For Sale
$650,000
Pending
450 Grand Avenue, Central Point, OR 97502
MULTI_FAMILY - Ranch - Central Point, OR
Property Size3,906 SF
Lot Size0.45 Acres
Days on Market56
Property Features for 450 Grand Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-1-6
Parking features
Alley, Carport
Window features
Double Pane Windows
Appliances
Range
Lot features
Corner Lot, Level
View
Territorial
Elementary school
Central Point Elem
Middle school
Scenic Middle
High school
Crater High
Directions
Corner of Grand Avenue and South Fourth Street
Standard status
Pending
APN
10146972
Size
3,906 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7045
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Architectural style
Ranch
Listing Agency:
John L. Scott Medford
(541) 779-3611
Listed By:
Katherine J Weston
(541) 840-4938
Added: Jun 17
Changed: Aug 1
Last Checked: Aug 11 at 10:06PM
MLS# 220223574
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 quadplex features two separate duplex buildings on a large corner lot totaling 0.45 acres. The first building was built in 1965 and the second in 1967. Each of the four units offers two bedrooms and one bath, with laundry hookups and just under 1000 square feet per unit. Kitchens are described as galley style with large living rooms and sized dining areas, along with original cabinetry and various updates over the years. Flooring is noted as vinyl and carpet, with hardwood flooring potentially present under carpeting in some areas.
Parking consists of carports for all four units, plus additional parking within the property. Parking access is described with an alley. Grassy areas are noted in front of three units. The property is a frame, ranch-style construction with forced-air heating using natural gas, a composition roof, public water service, and public sewer.
Zoning is listed as R-1-6. Prospective buyers should perform due diligence regarding any potential subdivision/expansion options with the city.
Parking consists of carports for all four units, plus additional parking within the property. Parking access is described with an alley. Grassy areas are noted in front of three units. The property is a frame, ranch-style construction with forced-air heating using natural gas, a composition roof, public water service, and public sewer.
Zoning is listed as R-1-6. Prospective buyers should perform due diligence regarding any potential subdivision/expansion options with the city.
Key Highlights
- Two duplex buildings on a 0.45‑acre corner lot creating a 4‑unit quadplex
- Building dates: 1965 and 1967
- Each unit offers 2 bedrooms, 1 bath, with laundry hookups
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
$41,858
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
6.44%
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%
$837,160
$837.2K
Cap Rate 7%
$597,971
$598.0K
Cap Rate 9%
$465,089
$465.1K
Market Conditions
NOI Build-Up for 3,906 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
$63.3K $16.20/SF
− Vacancy
−$3.5K −$0.89/SF
EGI
$59.8K $15.31/SF
− OpEx
−$17.9K −$4.59/SF
NOI
$41.9K $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%
$837,160
Cap Rate 7%
$597,971
Cap Rate 9%
$465,089
Alternative Uses
Best Use
Multifamily LT 5
$598.0K
$523.2K – $697.6K
NOI $41,858 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$942.8K
$825.0K – $1.10M
NOI $65,996 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 97502, OR
29,558
Population
11,717
Households
2.5
Avg Household Size
43
Median Age
21%
College-Educated
89%
High-School Grad
82.1 sq mi
ZIP Area
360
Density / Sq Mi
$79,146
Median Household Income
$42,667
Median Earnings
$1,245
Median Rent
$374,000
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?
Quadplex - Four-unit quadplex with two duplex buildings on a 0.45-acre corner lot, zoned R-1-6 with public water and sewer.
Where is this quadplex located?
The property is located at 450 Grand Avenue Central Point, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two duplex buildings on a 0.45‑acre corner lot creating a 4‑unit quadplex; Building dates: 1965 and 1967; Each unit offers 2 bedrooms, 1 bath, with laundry hookups
