Residential Property with Seven
For Sale
Contact for pricing
Pending
1010 Horn Ln, Eugene, OR 97404
Leased residential property featuring seven bedrooms and three full bathrooms.
Property Size3,260 SF
Lot Size0.26 Acres
Days on Market204
Property Features for 1010 Horn Ln
General Information
Standard status
Pending
Size
3,260 SF
Lot size
0.26 Acres
Property subtype
Multifamily
Zoning
R-1
Occupancy
100%
Building Details
Year Built
1962
Buildings
1
Stories
2
Units
1
Listing Agency:
Evans, Elder Brown & Seubert
Listed By:
Jack Pennington · License #OR 201208237
Source:
Crexi
Added: Jan 29
Changed: Aug 13
Last Checked: Aug 20 at 9:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Evans, Elder Brown & Seubert
Investment Insights
Based on property information with market context.
This leased residential property features seven bedrooms and three full bathrooms within a 3,260 square-foot house constructed in 1962. The property is currently rented for $4,000 per month to a group living facility. Since 2023, over $80,000 has been invested in renovations, including a new roof and gutters. The parcel spans 11,274 square feet, with approximately 3,036 square feet designated as shared road. The lot is a flag lot. There are two additional buildable lots in front of the home also available.
Key Highlights
- Current lease in place with $4,000/month rental income.
- Recent renovations totaling over $80k since 2023, including new roof & gutters.
- Large 3,260 SF house with 7 bedrooms and 3 full bathrooms.**
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
$25,509
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
4.26%
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%
$510,180
$510.2K
Cap Rate 7%
$364,414
$364.4K
Cap Rate 9%
$283,433
$283.4K
Market Conditions
NOI Build-Up for 3,260 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
$46.9K $14.40/SF
− Vacancy
−$563 −$0.17/SF
EGI
$46.4K $14.23/SF
− OpEx
−$20.9K −$6.40/SF
NOI
$25.5K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$510,180
Cap Rate 7%
$364,414
Cap Rate 9%
$283,433
Alternative Uses
Best Use
Apartment 5plus
$364.4K
$318.9K – $425.2K
NOI $25,509 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.6K
$860.6K – $1.15M
NOI $68,851 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 97404, OR
34,345
Population
13,823
Households
2.5
Avg Household Size
43
Median Age
33%
College-Educated
94%
High-School Grad
9.6 sq mi
ZIP Area
3,578
Density / Sq Mi
$80,355
Median Household Income
$41,184
Median Earnings
$1,408
Median Rent
$397,700
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?
Multifamily property - Leased residential property featuring seven bedrooms and three full bathrooms.
Where is this multifamily property located?
The property is located at 1010 Horn Ln Eugene, OR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Current lease in place with $4,000/month rental income.; Recent renovations totaling over $80k since 2023, including new roof & gutters.; Large 3,260 SF house with 7 bedrooms and 3 full bathrooms.**
