Duplex With Private
For Sale
$384,900
1115 Queen Av SE, Albany, OR 97322
Two residential units support owner-occupant living or separate rental use, each with a backyard.
Property Size1,598 SF
Price / SF$240.86
Days on Market50
Property Features for 1115 Queen Av SE
General Information
Standard status
Active
Size
1,598 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
backyard
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Keller Williams Realty Mid-Willamette - Gillott Team
(541) 990-7785
Listed By:
Matin Real Estate
(503) 208-8406
Source:
Portlandrealestate
Added: Sep 5
Changed: Oct 23
Last Checked: Oct 23 at 6:39AM
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 Realty Mid-Willamette - Gillott Team
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Investment Insights
Based on property information with market context.
Built in 1968, this duplex at 1115 Queen Av SE includes two residential units, each offering 2 bedrooms, 1 bathroom, and 799 square feet. Both sides include a private garage and backyard, providing practical separation between units and outdoor space for occupants.
The property contains 1,598 square feet in total. Its two-unit configuration supports multiple occupancy strategies, including living in one unit while leasing the other or renting both residences. Functional layouts and separate garages add utility for residents while maintaining the flexibility associated with a duplex asset.
The property contains 1,598 square feet in total. Its two-unit configuration supports multiple occupancy strategies, including living in one unit while leasing the other or renting both residences. Functional layouts and separate garages add utility for residents while maintaining the flexibility associated with a duplex asset.
Key Highlights
- Two‑unit duplex with 1,598 square feet total
- Each unit includes 2 bedrooms, 1 bathroom, and 799 square feet
- Private garage assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,085
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,700
$301.7K
Cap Rate 7%
$215,500
$215.5K
Cap Rate 9%
$167,611
$167.6K
Market Conditions
NOI Build-Up for 1,598 SF
Gross rent
$22.1K $13.80/SF
− Vacancy
−$503 −$0.31/SF
EGI
$21.5K $13.49/SF
− OpEx
−$6.5K −$4.05/SF
NOI
$15.1K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,700
Cap Rate 7%
$215,500
Cap Rate 9%
$167,611
Alternative Uses
Best Use
Multifamily LT 5
$215.5K
$188.6K – $251.4K
NOI $15,085 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$198.5K
$173.7K – $231.6K
NOI $13,896 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$465.5K
$407.3K – $543.1K
NOI $32,587 @ 7.0% cap · market cap 8.47%
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
1,002
Businesses Nearby
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Business Placement
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
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 residential units support owner-occupant living or separate rental use, each with a backyard.
Where is this duplex located?
The property is located at 1115 Queen Av SE Albany, OR.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,598 square feet total; Each unit includes 2 bedrooms, 1 bathroom, and 799 square feet; Private garage assigned to each unit
