Two-Unit Duplex with Updated
For Sale
$629,000
726 NE SAVANNAH Dr, Bend, OR 97701
MultiFamily, Bend, OR
Property Size1,988 SF
Lot Size0.19 Acres
Price / SF$316.40
Days on Market28
Property Features for 726 NE SAVANNAH Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3
Elementary school
Juniper
Middle school
Pilot Butte
High school
Bend
Directions
NE Linnea Drive x NE Savannah Drive
Subdivision
_320
Standard status
Active
APN
194745
Size
1,988 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
PILOT BUTTE PARK DEVELOPMENT PHASE II + IV Lot 11 Block
Tax Annual Amount
4383
Legal Description
PILOT BUTTE PARK DEVELOPMENT PHASE II + IV Lot 11 Block
Utilities
Heating system
Forced Air
Amenities
updated washer
dryers
refrigerator
ovens
Building Details
Year built
2000
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Stephanie Peters
(503) 799-0220
Added: Jul 28
Changed: Aug 23
Last Checked: Aug 24 at 10:06PM
MLS# 354624661
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.
Built in 2000, this RES-zoned duplex contains 1,988 square feet across two residential units. Each unit offers two bedrooms and two bathrooms, with practical layouts suited to residential occupancy. The property is currently leased, and recent updates include the washers, dryers, refrigerators, and ovens. Forced-air heating and a composition roof serve the building.
The property occupies a 0.19-acre parcel on NE Savannah Dr in Bend’s Northeast side. Pilot Butte is nearby, along with shopping, dining, and hiking access. Its duplex configuration provides two separate residential units within a single income-producing property.
The property occupies a 0.19-acre parcel on NE Savannah Dr in Bend’s Northeast side. Pilot Butte is nearby, along with shopping, dining, and hiking access. Its duplex configuration provides two separate residential units within a single income-producing property.
Key Highlights
- Two‑unit duplex with 1,988 square feet of total property size
- Each unit includes 2 bedrooms and 2 bathrooms
- Leases are already in place
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
$27,888
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
4.43%
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%
$557,760
$557.8K
Cap Rate 7%
$398,400
$398.4K
Cap Rate 9%
$309,867
$309.9K
Market Conditions
NOI Build-Up for 1,988 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
$42.9K $21.60/SF
− Vacancy
−$3.1K −$1.56/SF
EGI
$39.8K $20.04/SF
− OpEx
−$12.0K −$6.01/SF
NOI
$27.9K $14.03/SF
Area
Bend, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$557,760
Cap Rate 7%
$398,400
Cap Rate 9%
$309,867
Alternative Uses
Best Use
Multifamily LT 5
$398.4K
$348.6K – $464.8K
NOI $27,888 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$363.7K
$318.3K – $424.3K
NOI $25,460 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$858.8K
$751.5K – $1.00M
NOI $60,117 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,370
Businesses Nearby
Explore this area
Business Placement
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
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 - Leased residential income property with two-bedroom, two-bath layouts and updated kitchen and laundry appliances.
Where is this duplex located?
The property is located at 726 NE SAVANNAH Dr Bend, OR.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,988 square feet of total property size; Each unit includes 2 bedrooms and 2 bathrooms; Leases are already in place
