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    Cave Junction Income Property Title is generated by Realmo AI

    701 Caves Highway, Cave Junction, OR 97523

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    Pending
    $299,000

    MULTI_FAMILY - Bungalow - Cave Junction, OR

    Property size:
    2,336 SF
    Lot size:
    2.48 Acres
    Added:
    Sep 6, 2025
    Days on Market:
    259
    Last Refresh:
    May 22 at 10:06 pm

    Property Features for 701 Caves Highway

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Driveway
    Appliances
    Oven, Refrigerator
    Standard status
    Pending
    APN
    R330405
    Size
    2,336 SF
    Lot size
    2.48 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1887

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating)
    Water source
    Well

    Building Details

    Year built
    1977
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Vinyl
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Bungalow
    Additional Structures
    Storage

    We can help!

    Listing Contact
    China Rose

    Listing agent China Rose License #201218988

    Listing office eXp Realty, LLC 710 Cardley Ave, Salem, OR

    Listing date Sep 6, 2025

    MLS# 220208860 Listing URL

    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.

    HighLights

    • Income‑producing 4‑unit property on 2.48 acres with RR5 zoning.
    • Three currently rented units providing immediate cash flow.
    • Recently remodeled, vacant unit ideal for owner‑occupancy or leasing.
    • Owner Will Carry financing option available.
    • Two 1 bed/1 bath cottages, a refreshed 2 bed/1 bath cottage, and a 2 bed/1 bath modular home.
    • Convenient location off Hwy 199.

    Overview

    This 2.48-acre income property in Cave Junction features four units and RR5 zoning. The property includes three income-producing units and one recently remodeled, currently vacant unit. The property features two 1-bed, 1-bath cottages, each renting for $825. There is also a refreshed 2-bed, 1-bath cottage with new appliances and flooring, previously rented at $875. A 1,056 sq ft modular home with 2 beds and 1 bath rents for $1,000. The property is supported by a shared well and two septic systems. All tenants are on month-to-month agreements. Located off Hwy 199 next to the fire station, this property offers immediate cash flow and potential for future value appreciation.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $210.8K
    NOI $18,974 @ 9.00% cap · cautious / downside scenario
    Moderate
    $271.1K
    NOI $18,974 @ 7.00% cap · market / base-case scenario
    Aggressive
    $379.5K
    NOI $18,974 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $28.6k $12.24
    − Vacancy −$1.5k −$0.64
    EGI $27.1k $11.60
    − OpEx −$8.1k −$3.48
    NOI $19.0k $8.12
    2,336 SF · lease $12.24/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $271.1K
    $237.2K – $316.2K (±1% cap)
    NOI $18,974 @ 7.0% cap · market cap 6.35%
    Second Best
    Apartment 5plus
    $251.6K
    $220.2K – $293.6K (±1% cap)
    NOI $17,613 @ 7.0% cap · market cap 5.89%
    Theoretical Best
    Office A
    $529.7K
    $463.5K – $617.9K (±1% cap)
    NOI $37,076 @ 7.0% cap · market cap 12.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cave Junction
    County
    Josephine
    State
    Oregon
    Longitude
    -123.635055
    Latitude
    42.158335

    Nearby Similar for Sale

    • $850,000
      3,060 SF

      Commercial Building on Fenced Lot

      3060 sq ft commercial building on 1.38-acre fenced lot.
      30073 Redwood Highway, Cave Junction, OR 97523
      View Details
    • $995,000
      13,000 SF

      Country Hills Resort Investment Opportunity

      Established resort with vacation rentals, RV sites, and owner's residence.
      7903 Caves Highway, Cave Junction, OR 97523
      View Details
    • $3,200,000
      28,924 SF

      Established Storage Facility in Cave Junction

      Established storage facility with excellent cash flow and upside potential.
      25657 Redwood Hwy, Cave Junction, OR 97523
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit income property on 2.48 acres in Cave Junction.
    Where is this quadplex located?
    The property is located at 701 Caves Highway Cave Junction, OR.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Income‑producing 4‑unit property on 2.48 acres with RR5 zoning.; Three currently rented units providing immediate cash flow.; Recently remodeled, vacant unit ideal for owner‑occupancy or leasing.
    (888) 814-9613
    We can help!
    Listing Contact
    China Rose
    Real Estate License ID: 201218988
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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