Two-Home Multifamily
For Sale
$419,900
1028 E Grover Ave, Cottage Grove, OR 97424
R1-zoned asset combining a primary residence with a one-bedroom accessory dwelling unit.
Property Size2,716 SF
Lot Size0.18 Acres
Days on Market290
Property Features for 1028 E Grover Ave
General Information
Standard status
Active
Size
2,716 SF
Lot size
0.18 Acres
Property subtype
Multi Family Home
Zoning
R1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,202
Building Details
Building Size
2,716 SF
Year Built
2008
Stories
2
Units
2
Listing Agency:
RE/MAX Integrity
(541) 510-6695
Listed By:
Jon Sims
(541) 510-6695
Source:
Allprofessionalsre
Added: Nov 3, 2025
Changed: Aug 20
Last Checked: Aug 20 at 8:45AM
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 RE/MAX Integrity
Investment Insights
Based on property information with market context.
This multifamily property includes two separate homes on a 0.18-acre lot. The primary residence at 1028 E. Grover Ave offers 1,840 square feet with vaulted ceilings, stone countertops, stainless steel appliances, and distinctive architectural details. The second residence, located at 1046 E. Grover Ave, is an 800-square-foot, single-level accessory dwelling unit with one bedroom.
Built in 2008 and situated in Cottage Grove, the property carries R1 zoning. The two-home configuration provides a primary dwelling and a separate smaller residence within the same parcel.
Built in 2008 and situated in Cottage Grove, the property carries R1 zoning. The two-home configuration provides a primary dwelling and a separate smaller residence within the same parcel.
Key Highlights
- Two homes on a 0.18‑acre lot
- Primary residence contains 1,840 square feet
- 800‑square‑foot, one‑bedroom ADU at 1046 E. Grover Ave
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
$26,664
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
6.35%
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%
$533,280
$533.3K
Cap Rate 7%
$380,914
$380.9K
Cap Rate 9%
$296,267
$296.3K
Market Conditions
NOI Build-Up for 2,716 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
$40.7K $15.00/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$38.1K $14.03/SF
− OpEx
−$11.4K −$4.21/SF
NOI
$26.7K $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%
$533,280
Cap Rate 7%
$380,914
Cap Rate 9%
$296,267
Alternative Uses
Best Use
Multifamily LT 5
$380.9K
$333.3K – $444.4K
NOI $26,664 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$354.6K
$310.3K – $413.7K
NOI $24,822 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$687.1K
$601.2K – $801.6K
NOI $48,098 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 97424, OR
18,750
Population
7,920
Households
2.4
Avg Household Size
45
Median Age
22%
College-Educated
91%
High-School Grad
246.2 sq mi
ZIP Area
76
Density / Sq Mi
$71,985
Median Household Income
$36,588
Median Earnings
$1,012
Median Rent
$349,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R1-zoned asset combining a primary residence with a one-bedroom accessory dwelling unit.
Where is this multifamily property located?
The property is located at 1028 E Grover Ave Cottage Grove, OR.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two homes on a 0.18‑acre lot; Primary residence contains 1,840 square feet; 800‑square‑foot, one‑bedroom ADU at 1046 E. Grover Ave
