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    Gaston Farmhouse with Income Potential Title is generated by Realmo AI

    105 2ND St, Gaston, OR 97119

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    For Sale
    $650,000

    MULTI_FAMILY - Gaston, OR

    Property size:
    3,058 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $212/SF
    Added:
    May 7, 2026
    Days on Market:
    15
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 105 2ND St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 2
    Standard status
    Active
    APN
    R450309
    Size
    3,058 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    ACRES 0.23
    Tax Annual Amount
    3432

    Utilities

    Heating system
    Baseboard, Heat Pump (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    1916
    Floors in Building
    3
    Number of units
    3
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Dag Mavrolas

    Listing agent Dag Mavrolas

    Listing office Premiere Property Group, LLC 1500 NW Bethany Blvd Ste 190, Lake Oswego, OR

    Listing date May 7, 2026

    MLS# 690626698 Listing URL

    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.

    HighLights

    • Income‑producing potential with two attached, private rental apartments (approx. 600 sq. ft. each) featuring a family room, kitchen, bedroom, and full bathroom.
    • Main house features 3 bedrooms and 2 remodeled bathrooms with original pine floors and a brick fireplace.
    • Elevated nearly 1/4‑acre lot with mature trees and stunning valley views.
    • Flexible living options suitable for multigenerational living, guest quarters, or rental income.
    • Unfinished basement provides opportunity for expansion, storage, or workshop space.
    • Charming farmhouse with a spacious country kitchen overlooking a beautifully manicured yard.

    Overview

    Located in the heart of Gaston, Oregon, this farmhouse is situated on an elevated lot spanning nearly 0.23 acres. The three-level main home includes 3 bedrooms and 2 remodeled bathrooms. Original pine floors and a brick fireplace add to the interior's character, while valley views enhance the living experience. The country kitchen overlooks a manicured yard featuring mature trees. An unfinished basement offers potential for expansion, storage, or workshop space. The property also includes two attached, private apartments, each approximately 600 square feet. These units feature a family room, kitchen, bedroom, and full bathroom. Currently rented, the apartments provide a revenue stream and can also serve as guest quarters or multigenerational living spaces. The property offers a combination of country living and investment opportunity.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $436.3K
    NOI $39,265 @ 9.00% cap · cautious / downside scenario
    Moderate
    $560.9K
    NOI $39,265 @ 7.00% cap · market / base-case scenario
    Aggressive
    $785.3K
    NOI $39,265 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $75.2k $24.60
    − Vacancy −$3.8k −$1.25
    EGI $71.4k $23.35
    − OpEx −$32.1k −$10.51
    NOI $39.3k $12.84
    3,058 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $560.9K
    $490.8K – $654.4K (±1% cap)
    NOI $39,265 @ 7.0% cap · market cap 6.04%
    Second Best
    Multifamily LT 5
    $536.4K
    $469.3K – $625.8K (±1% cap)
    NOI $37,547 @ 7.0% cap · market cap 5.78%
    Theoretical Best
    Office A
    $825.4K
    $722.3K – $963.0K (±1% cap)
    NOI $57,780 @ 7.0% cap · market cap 8.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Building Supply Hair Salon Auto Repair Shop Gym & Fitness Center Kitchen & Bath Showroom HVAC Service Grocery & Convenience Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gaston
    County
    Washington
    State
    Oregon
    Longitude
    -123.140895
    Latitude
    45.438202

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    FAQs

    What type of property is this?
    Triplex - Charming farmhouse with two rental apartments in Gaston, Oregon.
    Where is this triplex located?
    The property is located at 105 2ND St Gaston, OR.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Income‑producing potential with two attached, private rental apartments (approx. 600 sq. ft. each) featuring a family room, kitchen, bedroom, and full bathroom.; Main house features 3 bedrooms and 2 remodeled bathrooms with original pine floors and a brick fireplace.; Elevated nearly 1/4‑acre lot with mature trees and stunning valley views.
    (503) 267-8408
    We can help!
    Listing Contact
    Dag Mavrolas
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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