Duplex with On-Site
For Sale
$419,900
1028 E GROVER Ave, Cottage Grove, OR 97424
MULTI_FAMILY - CottageGrove, OR
Property Size2,716 SF
Lot Size0.18 Acres
Price / SF$154.60
Days on Market277
Property Features for 1028 E GROVER Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Elementary school
Bohemia
Middle school
Lincoln
High school
Cottage Grove
Directions
Hwy 99 or 10th to E Grover
Subdivision
_235
Standard status
Active
APN
1665098
Size
2,716 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Partition Plat: CS #36752 2000-P1397
Tax Annual Amount
6203
Legal Description
Partition Plat: CS #36752 2000-P1397
Utilities
Heating system
Zoned, Heat Pump (Heating)
Building Details
Year built
2008
Floors in Building
2
Number of units
2
Roof type
Composition, Shingle
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 345-8100
Listed By:
Jon Sims
(541) 510-6695
Added: Nov 3, 2025
Changed: Aug 1
Last Checked: Aug 7 at 5:06AM
MLS# 390997196
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.
Duplex property featuring two homes on a 0.18-acre lot. 1028 E Grover Ave offers 1,840 sq ft of modern living space with vaulted ceilings, stone countertops, stainless steel appliances, and architectural design elements. 1046 E Grover Ave is an 800 sq ft ADU-styled, one-level, one-bedroom home with many modern updates.
The property is zoned R1 and was built in 2008. Heating includes zoned heating and a heat pump system. The roof is described as composition shingle.
With two separate residences on the same lot, the configuration can be useful for owner-occupants or investors seeking an on-site second home.
The property is zoned R1 and was built in 2008. Heating includes zoned heating and a heat pump system. The roof is described as composition shingle.
With two separate residences on the same lot, the configuration can be useful for owner-occupants or investors seeking an on-site second home.
Key Highlights
- Two homes on a 0.18‑acre lot
- 1028 E Grover Ave: 1,840 sq ft with vaulted ceilings
- 1046 E Grover Ave: 800 sq ft ADU‑styled one‑bedroom one‑level home
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
Location Intelligence
Trade Area within ½ mile
691
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?
Duplex - Two homes on a 0.18-acre R1 lot, including a heated ADU-style one-bedroom residence.
Where is this duplex 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; 1028 E Grover Ave: 1,840 sq ft with vaulted ceilings; 1046 E Grover Ave: 800 sq ft ADU‑styled one‑bedroom one‑level home
