Duplex with Daylight
For Sale
$599,000
1039 NE Grant Street, Newport, OR 97365
Residential Income, Newport, OR
Property Size2,720 SF
Lot Size0.17 Acres
Price / SF$220.22
Days on Market113
Property Features for 1039 NE Grant Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2 Residential
Bedrooms
7
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 7, Basement, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2
Parking
4
Fireplace
1
Basement
Finished
Appliances
Gas Cooktop, Gas Oven, Refrigerator, Water Heater, Gas Cooktop, Gas Oven, Refrigerator, Water Heater
Subdivision
Bakers 1st to Newport
Directions
From Highway 101 in Newport, head east onto Highway 20 (Olive Street). Turn left onto NE Harney Street, then take a left onto NE 7th Street. Continue a short distance and turn right onto NE Grant Street. Follow NE Grant Street to the very end of the cul-de-sac, where you'll find 1039 NE Grant St. The home is situated in a quiet neighborhood with minimal traffic and is conveniently located just minutes from schools, shopping, restaurants, and all the amenities Newport has to offer.
Standard status
Active
APN
R250758
Size
2,720 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3728
Utilities
Utilities
Cable Available
Sewer type
Septic Tank, Public Sewer
Heating system
Electric (Heating), Natural Gas, Baseboard
Cooling system
Electric
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Wood Siding
Roof type
Composition
Architectural style
Split Level
Buildings
1
Listing Agency:
Coldwell Banker Professional Group - Newport · Coldwell Banker Real Estate
(541) 994-7760
Listed By:
Alyshia A Ware · License #201258042
(541) 905-5311
Added: Jul 9
Changed: Oct 28
Last Checked: Oct 29 at 2:06PM
MLS# 26-1895
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Configured as a duplex, the property contains 2,720 square feet across a 1,710-square-foot main level and a 990-square-foot daylight basement. The upper residence has four bedrooms and 1.5 bathrooms; the lower unit has three bedrooms and one bathroom. Updates include a renovated kitchen, new appliances, refreshed bathrooms, new flooring and interior paint, and new decks. Appliances include a washer and dryer. The home was built in 1940 and has a split-level design, wood siding, baseboard heating, and a fireplace.
The 0.17-acre property is in Newport, Oregon. The basement may be considered for short-term rental use subject to obtaining the required City permit. Zoning is R-2 Residential.
The 0.17-acre property is in Newport, Oregon. The basement may be considered for short-term rental use subject to obtaining the required City permit. Zoning is R-2 Residential.
Key Highlights
- 2,720 square feet total, including a 1,710‑square‑foot main level and 990‑square‑foot daylight basement
- Main level has 4 bedrooms and 1.5 bathrooms; basement has 3 bedrooms and 1 bathroom
- 0.17‑acre property zoned R‑2 Residential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,350
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,000
$507.0K
Cap Rate 7%
$362,143
$362.1K
Cap Rate 9%
$281,667
$281.7K
Market Conditions
NOI Build-Up for 2,720 SF
Gross rent
$37.5K $13.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$36.2K $13.31/SF
− OpEx
−$10.9K −$3.99/SF
NOI
$25.4K $9.32/SF
Area
Lincoln County, OR
Vacancy
3.52%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,000
Cap Rate 7%
$362,143
Cap Rate 9%
$281,667
Alternative Uses
Best Use
Multifamily LT 5
$362.1K
$316.9K – $422.5K
NOI $25,350 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$333.4K
$291.7K – $389.0K
NOI $23,338 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$709.5K
$620.8K – $827.7K
NOI $49,662 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
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Business Placement
Demographics for 97365, OR
10,806
Population
6,026
Households
1.8
Avg Household Size
47
Median Age
31%
College-Educated
91%
High-School Grad
41.5 sq mi
ZIP Area
260
Density / Sq Mi
$60,736
Median Household Income
$30,963
Median Earnings
$1,155
Median Rent
$418,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide a four-bedroom main floor and a three-bedroom lower level.
Where is this duplex located?
The property is located at 1039 NE Grant Street Newport, 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: 2,720 square feet total, including a 1,710‑square‑foot main level and 990‑square‑foot daylight basement; Main level has 4 bedrooms and 1.5 bathrooms; basement has 3 bedrooms and 1 bathroom; 0.17‑acre property zoned R‑2 Residential
