Two-Residence Duplex with
1113 Monmouth Cutoff Rd, Dallas, OR 97338
For Sale
New
$649,900
The parcel includes a barn/shop and a separate shed that may serve as office or additional room space.
Property Size2,195 SF
Lot Size0.52 Acres
Price / SF$296.08
Days on Market3
Property Features for 1113 Monmouth Cutoff Rd
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Year Renovated
Listing Agency:
Keller Williams Capital City
(503) 930-1047
Listed By:
Matin Real Estate
(503) 208-8406
Source:
Portlandrealestate
Added: Nov 8
Last Checked: Nov 10 at 8:37AM
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 Keller Williams Capital City
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Investment Insights
Based on property information with market context.
Two legal residences occupy a 0.52-acre parcel in Dallas, Oregon. The larger home contains 1,655 square feet with three bedrooms and one bathroom; the second has 540 square feet, one bedroom, and one bathroom. Both interiors and exteriors were remodeled in 2020, including electrical and plumbing work. The property also includes a barn/shop and a shed, with the shed described as suitable for office or additional room use.
Key Highlights
- Two legal homes on a 0.52‑acre lot
- Larger residence: 1,655 square feet, 3 bedrooms, 1 bathroom
- Second residence: 540 square feet, 1 bedroom, 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,362
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,240
$527.2K
Cap Rate 7%
$376,600
$376.6K
Cap Rate 9%
$292,911
$292.9K
Market Conditions
NOI Build-Up for 2,195 SF
Gross rent
$40.3K $18.36/SF
− Vacancy
−$2.6K −$1.20/SF
EGI
$37.7K $17.16/SF
− OpEx
−$11.3K −$5.15/SF
NOI
$26.4K $12.01/SF
Area
Polk County, OR
Vacancy
6.55%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,240
Cap Rate 7%
$376,600
Cap Rate 9%
$292,911
Alternative Uses
Best Use
Multifamily LT 5
$376.6K
$329.5K – $439.4K
NOI $26,362 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$346.8K
$303.5K – $404.6K
NOI $24,277 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$582.8K
$509.9K – $679.9K
NOI $40,795 @ 7.0% cap · market cap 6.28%
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
105
Businesses Nearby
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Business Placement
Demographics for 97338, OR
22,741
Population
9,109
Households
2.5
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
124.8 sq mi
ZIP Area
182
Density / Sq Mi
$73,345
Median Household Income
$37,359
Median Earnings
$1,197
Median Rent
$388,100
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 - The parcel includes a barn/shop and a separate shed that may serve as office or additional room space.
Where is this duplex located?
The property is located at 1113 Monmouth Cutoff Rd Dallas, OR.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two legal homes on a 0.52‑acre lot; Larger residence: 1,655 square feet, 3 bedrooms, 1 bathroom; Second residence: 540 square feet, 1 bedroom, 1 bathroom
