Two-Unit Duplex with
New
For Sale
$695,000
1011 10TH St, Florence, OR 97439
MultiFamily, Florence, OR
Property Size2,838 SF
Lot Size0.21 Acres
Price / SF$244.89
Days on Market5
Property Features for 1011 10TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HR
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 2
Elementary school
Siuslaw
Middle school
Siuslaw
High school
Siuslaw
Directions
HWY 101, West on 10th Street, at the end of 10th street
Subdivision
_228
Standard status
Active
APN
0798452
Size
2,838 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
18-12-27-42-01800
Tax Annual Amount
5528
Legal Description
18-12-27-42-01800
Utilities
Heating system
Zoned
Cooling system
Wall Unit(s)
Amenities
in-unit laundry
Building Details
Year built
2006
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
TR Hunter Real Estate
(541) 997-1200
Listed By:
Mike Blankenship · License #201218079
(541) 991-7826
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 22 at 6:06PM
MLS# 774068461
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.
This 2,838-square-foot duplex contains two two-bedroom, two-bath residences, each arranged with a private entrance, in-unit laundry, separate utilities, and an attached two-car garage. Built in 2006, both units have been recently refreshed. Zoned HR, the property also includes composition roofing, zoned heating, and wall-unit cooling.
Set on 0.21 acres at the end of a dead-end street in Florence, the property has no neighbor to the west, along with parking capacity for vehicles, RVs, boats, and guests. The location is approximately 3/4 mile from Old Town Florence, with access to shopping, dining, and the Siuslaw River waterfront. The configuration supports use as a two-unit rental property, an owner-occupied residence with an additional unit, or multigenerational housing.
Set on 0.21 acres at the end of a dead-end street in Florence, the property has no neighbor to the west, along with parking capacity for vehicles, RVs, boats, and guests. The location is approximately 3/4 mile from Old Town Florence, with access to shopping, dining, and the Siuslaw River waterfront. The configuration supports use as a two-unit rental property, an owner-occupied residence with an additional unit, or multigenerational housing.
Key Highlights
- Two 2‑bedroom, 2‑bath residences within a 2,838‑square‑foot duplex
- Each unit includes a private entrance, in‑unit laundry, separate utilities, and an attached 2‑car garage
- Built in 2006 on a 0.21‑acre lot
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
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 separate residences provide private entrances, in-unit laundry, and attached garages.
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 within a 2,838‑square‑foot duplex; Each unit includes a private entrance, in‑unit laundry, separate utilities, and an attached 2‑car garage; Built in 2006 on a 0.21‑acre lot
