Triplex with Attached and Detached
For Sale
$359,000
108 N Columbus Avenue, Medford, OR 97501
MULTI_FAMILY - Bungalow - Medford, OR
Property Size1,712 SF
Lot Size0.11 Acres
Price / SF$209.70
Days on Market56
Property Features for 108 N Columbus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
SFR-10
Parking features
On Street, Alley
Window features
Vinyl Frames, Aluminum Frames
Patio and Porch features
Porch
Interior features
Built-in Features, Ceiling Fan(s), Fiberglass Stall Shower, Laminate Counters, Shower/Tub Combo
Appliances
Dryer, Range, Refrigerator, Washer, Water Heater
Subdivision
Bryant Addition
Lot features
Fenced, Level
Elementary school
Jackson Elem
Middle school
McLoughlin Middle
High school
South Medford High
Directions
From W Main St, North on N Columbus Ave to address on Right.
Standard status
Active
APN
10402583
Size
1,712 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1886
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Wall Furnace
Water source
Public
Building Details
Year built
1906
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Laminate, Carpet
Building materials
Frame
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
John L Scott Real Estate Grants Pass · John L. Scott
(541) 476-1299
Listed By:
Joshua M Emptage · License #201237219
(541) 761-6295
Added: Jun 18
Changed: Aug 1
Last Checked: Aug 12 at 3:06AM
MLS# 220223684
Copyright © 2026 Oregon Data Share. 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.
This well-maintained triplex at 108 N Columbus Avenue features two attached 1 bed/1 bath units and one detached 2 bed/1 bath unit, creating a versatile mix for tenant needs. The property has been recently updated, including refreshed interiors for Units 1 and 2 with new interior paint, flooring and carpet, updated kitchen cabinets and countertops, sink replacements, lighting updates, and bathroom sink/plumbing improvements.
All three units received a new roof in 2023, and the home is supported by separate gas and electric meters, helping simplify property management and tenant billing. The building is a frame bungalow style constructed in 1906, with composition roofing, public water, and public sewer.
Additional building features include baseboard heating with natural gas wall furnaces, and a unit mix that may appeal to both 1-bedroom and 2-bedroom renters. The property totals 1,712 square feet on a 0.11-acre lot, and is described as projecting a stabilized CAP Rate just under 8% based on trailing expense run-rate.
All three units received a new roof in 2023, and the home is supported by separate gas and electric meters, helping simplify property management and tenant billing. The building is a frame bungalow style constructed in 1906, with composition roofing, public water, and public sewer.
Additional building features include baseboard heating with natural gas wall furnaces, and a unit mix that may appeal to both 1-bedroom and 2-bedroom renters. The property totals 1,712 square feet on a 0.11-acre lot, and is described as projecting a stabilized CAP Rate just under 8% based on trailing expense run-rate.
Key Highlights
- Two attached 1 bed/1 bath units plus one detached 2 bed/1 bath unit
- Units 1 and 2 refreshed with new paint, flooring and carpet, kitchen updates, and bathroom sink/plumbing improvements
- New roof installed for all three units in 2023
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
$18,346
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
5.11%
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%
$366,920
$366.9K
Cap Rate 7%
$262,086
$262.1K
Cap Rate 9%
$203,844
$203.8K
Market Conditions
NOI Build-Up for 1,712 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
$27.7K $16.20/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$26.2K $15.31/SF
− OpEx
−$7.9K −$4.59/SF
NOI
$18.3K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /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%
$366,920
Cap Rate 7%
$262,086
Cap Rate 9%
$203,844
Alternative Uses
Best Use
Multifamily LT 5
$262.1K
$229.3K – $305.8K
NOI $18,346 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$230.0K
$201.3K – $268.4K
NOI $16,101 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$413.2K
$361.6K – $482.1K
NOI $28,926 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with two attached 1-bedroom units and one detached 2-bedroom unit, plus separate gas and electric meters.
Where is this triplex located?
The property is located at 108 N Columbus Avenue Medford, OR.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two attached 1 bed/1 bath units plus one detached 2 bed/1 bath unit; Units 1 and 2 refreshed with new paint, flooring and carpet, kitchen updates, and bathroom sink/plumbing improvements; New roof installed for all three units in 2023
