Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Running Y Title is generated by Realmo AI

    Murrelet Drive lot 1203, Klamath Falls, OR 97601

    View on Map
    Claim this Listing
    For Sale
    $40,000

    LAND - Klamath Falls, OR

    Lot size:
    1.35 Acres
    Added:
    May 14, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 5 at 5:06 am

    Property Features for Murrelet Drive lot 1203

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    891244
    Lot size
    1.35 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    250

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Private

    We can help!

    Listing Contact
    Sheri Townsend

    Listing agent Sheri Townsend License #201247496

    Listing office Fisher Nicholson Realty, LLC 403 Main Street, Klamath Falls, OR

    Listing date May 14, 2026

    MLS# 220221347 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.

    Overview

    This 1.35-acre lot is located in Klamath Falls, Oregon. The gently sloping lot is suitable for building and offers views of the Cascades to the east. As a resident, you'll have access to Running Y amenities, including the Sports and Fitness Center with an indoor pool, hot tub, sauna, sport courts, volleyball, horseshoes, and playground. Resort amenities include golf, spa, restaurants, and a market. The property is located on Murrelet Drive.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Klamath Falls
    County
    Klamath
    State
    Oregon
    Longitude
    -121.868677
    Latitude
    42.265814

    Nearby Similar for Sale

    • $280,000
      2,603 SF

      Triplex with Additional Dwelling Unit

      Two-level triplex with separate ADU, offering strong rental income.
      42 Pine Street, Klamath Falls, OR 97601
      View Details
    • $729,000
      2,360 SF

      New Multifamily Investment Opportunity

      New four-unit multifamily property under construction, completion August 2026.
      1433 Lakeview Ave, KlamathFalls, OR 97601
      View Details
    • $410,000
      2,658 SF

      Klamath Falls Investment Property

      Well-maintained duplex in Moyina Heights with city and mountain views.
      1752 & 1754 Kimberly Drive, Klamath Falls, OR 97603
      View Details
    • $44,900

      RidgeWater Homesite in Klamath Falls

      0.23-acre homesite in a gated, forested community.
      1075 Timber Ridge Loop, Klamath Falls, OR 97601
      View Details
    • $850,000
      1,680 SF

      Permitted Solid Waste Facility on 136 Acres

      Permitted solid waste and composting facility with highway frontage.
      24221 Highway 97 S, Klamath Falls, OR 97603
      View Details
    • $359,000
      1,220 SF

      Klamath Falls Income Property

      Income-producing property with two homes on a spacious lot.
      2539 Kane Street, Klamath Falls, OR 97603
      View Details
    • $299,900
      2,100 SF

      Klamath Falls Multi-Family Opportunity

      Two houses on a corner lot with income potential.
      2404 -2406 Gettle Street, Klamath Falls, OR 97603
      View Details
    • $22,500

      Residential Lot in Running Y Ranch

      Residential lot in resort with views near Klamath Falls.
      Fox Sparrow Drive, Klamath Falls, OR 97601
      View Details
    • $200,000

      Ridgewater Homesite with Klamath Lake Views

      0.82-acre homesite with lake views in Ridgewater community.
      6101 Rustler Peak Way, Klamath Falls, OR 97601
      View Details
    • $75,000

      Oversized Homesite in Ridgewater Community

      1.15-acre homesite with utilities and trail access.
      1140 Vine Maple Drive, Klamath Falls, OR 97601
      View Details
    • $75,000

      Ridgewater Homesite in Klamath Falls

      Oversized 1.08-acre homesite with utilities and trail access.
      1124 Vine Maple Drive, Klamath Falls, OR 97601
      View Details
    • $199,900

      Commercial Lot Near Washburn Way

      Commercial lot for sale in Klamath Falls, Oregon.
      Hilyard Avenue, Klamath Falls, OR 97603
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.35 acre lot in Running Y, Klamath Falls.
    Where is this residential land & home lot located?
    The property is located at Murrelet Drive lot 1203 Klamath Falls, OR.
    What is the asking price?
    The asking price for this property is $40,000.
    (405) 820-2377
    We can help!
    Listing Contact
    Sheri Townsend
    Real Estate License ID: 201247496
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Murrelet Drive lot: 1203, Klamath Falls, OR 97601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!