Duplex with Cosmetic Updates
For Sale
$700,000
740 E Cascade Avenue, Sisters, OR 97759
Residential Income, Sisters, OR
Property Size2,379 SF
Lot Size0.14 Acres
Price / SF$294.24
Days on Market51
Property Features for 740 E Cascade Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R
Elementary school
Sisters Elem
Middle school
Sisters Middle
High school
Sisters High
Standard status
Active
APN
205364
Size
2,379 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6202
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Flooring type
Laminate, Vinyl
Roof type
Composition
Listing Agency:
Stellar Realty Northwest
(541) 508-3148
Listed By:
Eric Bilderback
(541) 508-9672
Added: Jul 20
Changed: Aug 30
Last Checked: Sep 8 at 9:06AM
MLS# 220225697
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 duplex contains 2,379 square feet and was built in 2002. The property includes vinyl and laminate flooring, baseboard heating, a composition roof, public water, and public sewer. Cosmetic repairs and updates are identified as needed, providing a clear path for improvements within the existing residential income format.
One unit is owner-occupied, while the other unit is currently rented. The property sits on a 0.14-acre lot in Sisters, Oregon, with the address at 740 E Cascade Avenue. Its two-unit configuration supports continued residential use with separate occupancy arrangements.
One unit is owner-occupied, while the other unit is currently rented. The property sits on a 0.14-acre lot in Sisters, Oregon, with the address at 740 E Cascade Avenue. Its two-unit configuration supports continued residential use with separate occupancy arrangements.
Key Highlights
- Duplex with 2,379 square feet of building area
- Built in 2002 on a 0.14‑acre lot
- One unit is owner‑occupied; the other is currently rented
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
$33,373
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
4.77%
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%
$667,460
$667.5K
Cap Rate 7%
$476,757
$476.8K
Cap Rate 9%
$370,811
$370.8K
Market Conditions
NOI Build-Up for 2,379 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
$51.4K $21.60/SF
− Vacancy
−$3.7K −$1.56/SF
EGI
$47.7K $20.04/SF
− OpEx
−$14.3K −$6.01/SF
NOI
$33.4K $14.03/SF
Area
Deschutes County, 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%
$667,460
Cap Rate 7%
$476,757
Cap Rate 9%
$370,811
Alternative Uses
Best Use
Multifamily LT 5
$476.8K
$417.2K – $556.2K
NOI $33,373 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$435.2K
$380.8K – $507.8K
NOI $30,467 @ 7.0% cap · market cap 4.35%
Theoretical Best
Retail
$818.8K
$716.4K – $955.2K
NOI $57,313 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 97759, OR
7,787
Population
5,110
Households
1.5
Avg Household Size
55
Median Age
49%
College-Educated
95%
High-School Grad
545.7 sq mi
ZIP Area
14
Density / Sq Mi
$100,848
Median Household Income
$39,237
Median Earnings
$1,402
Median Rent
$695,400
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-unit property with public water and sewer, baseboard heat, and a 2002 construction date.
Where is this duplex located?
The property is located at 740 E Cascade Avenue Sisters, 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: Duplex with 2,379 square feet of building area; Built in 2002 on a 0.14‑acre lot; One unit is owner‑occupied; the other is currently rented
