Remodeled Geothermal
New
For Sale
$349,900
Pending
1046 N Eldorado Ave, Klamath Falls, OR 97601
Two updated units offer custom kitchen finishes, stainless steel appliances, and refreshed bathrooms.
Property Size3,312 SF
Days on Market4
Property Features for 1046 N Eldorado Ave
General Information
Standard status
Pending
Size
3,312 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Home and Land Real Estate
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 6:53AM
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 Home and Land Real Estate
Investment Insights
Based on property information with market context.
This 3,312-square-foot duplex, built in 1930, has been remodeled and uses geothermal heating. Its two residences each have two bedrooms; one includes one bathroom and the other has two. Updated kitchens feature custom cabinetry, stainless steel appliances, custom range hoods, and new lighting. Both units have bathrooms with custom tile work, and the property includes a low-maintenance yard.
The property is in Klamath Falls within the Roosevelt School District.
The property is in Klamath Falls within the Roosevelt School District.
Key Highlights
- 3,312‑square‑foot duplex built in 1930
- Geothermal heating
- Two 2‑bedroom units: one with 1 bathroom and one with 2
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
$26,995
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
7.72%
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%
$539,900
$539.9K
Cap Rate 7%
$385,643
$385.6K
Cap Rate 9%
$299,944
$299.9K
Market Conditions
NOI Build-Up for 3,312 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
$42.1K $12.72/SF
− Vacancy
−$3.6K −$1.08/SF
EGI
$38.6K $11.64/SF
− OpEx
−$11.6K −$3.49/SF
NOI
$27.0K $8.15/SF
Area
Klamath County, OR
Vacancy
8.46%
Lease Rate
$12.72 /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%
$539,900
Cap Rate 7%
$385,643
Cap Rate 9%
$299,944
Alternative Uses
Best Use
Multifamily LT 5
$385.6K
$337.4K – $449.9K
NOI $26,995 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$341.4K
$298.7K – $398.3K
NOI $23,896 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$677.0K
$592.4K – $789.8K
NOI $47,388 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 97601, OR
23,264
Population
10,936
Households
2.1
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
577.8 sq mi
ZIP Area
40
Density / Sq Mi
$53,333
Median Household Income
$31,011
Median Earnings
$972
Median Rent
$266,500
Median Home Value
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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 updated units offer custom kitchen finishes, stainless steel appliances, and refreshed bathrooms.
Where is this duplex located?
The property is located at 1046 N Eldorado Ave Klamath Falls, OR.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 3,312‑square‑foot duplex built in 1930; Geothermal heating; Two 2‑bedroom units: one with 1 bathroom and one with 2
