Duplex with Attached
New
For Sale
$695,000
1011 10th ST, Florence, OR 97439
Two refreshed residences provide private entrances, separate utilities, in-unit laundry, and flexible occupancy options.
Property Size2,838 SF
Price / SF$244.89
Days on Market3
Property Features for 1011 10th ST
General Information
Standard status
Active
Size
2,838 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Furnished
No
Amenities
in-unit laundry
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Real Broker
(503) 799-0220
Listed By:
Nick Shivers Team | eXp Realty
(503) 594-0805
Source:
Nickshivers
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 6:36AM
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 Real Broker
Investment Insights
Based on property information with market context.
Built in 2006, this 2,838-square-foot duplex contains two 2-bedroom, 2-bath residences with private entrances and separate utilities. Each unit includes in-unit laundry and an attached 2-car garage, while recent refreshing supports immediate occupancy. The property also provides abundant parking and space for RVs, boats, and guest vehicles.
Positioned at the end of a dead-end street with no neighbor to the west, the setting offers added separation. Old Town Florence is approximately 3/4 mile away, with shopping, dining, and the Siuslaw River waterfront nearby. The property has a proven rental history and supports multiple ownership approaches, including occupying one residence while renting the other, leasing both units, or pursuing short-term rental use.
Positioned at the end of a dead-end street with no neighbor to the west, the setting offers added separation. Old Town Florence is approximately 3/4 mile away, with shopping, dining, and the Siuslaw River waterfront nearby. The property has a proven rental history and supports multiple ownership approaches, including occupying one residence while renting the other, leasing both units, or pursuing short-term rental use.
Key Highlights
- Two 2‑bedroom, 2‑bath residences in a duplex configuration
- 2,838 square feet; built in 2006
- Each unit has a private entrance, in‑unit laundry, and separate utilities
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
$27,862
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
4.01%
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%
$557,240
$557.2K
Cap Rate 7%
$398,029
$398.0K
Cap Rate 9%
$309,578
$309.6K
Market Conditions
NOI Build-Up for 2,838 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
$42.6K $15.00/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$39.8K $14.03/SF
− OpEx
−$11.9K −$4.21/SF
NOI
$27.9K $9.82/SF
Area
Lane County, OR
Vacancy
6.50%
Lease Rate
$15.00 /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%
$557,240
Cap Rate 7%
$398,029
Cap Rate 9%
$309,578
Alternative Uses
Best Use
Multifamily LT 5
$398.0K
$348.3K – $464.4K
NOI $27,862 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$718.0K
$628.2K – $837.6K
NOI $50,258 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences provide private entrances, separate utilities, in-unit laundry, and flexible occupancy options.
Where is this duplex located?
The property is located at 1011 10th ST Florence, OR.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath residences in a duplex configuration; 2,838 square feet; built in 2006; Each unit has a private entrance, in‑unit laundry, and separate utilities
