Two-Unit Duplex with Private
For Sale
Under Contract
$384,900
1115 Queen Av SE, Albany, OR 97322
Multi Family, Albany, OR
Property Size1,598 SF
Lot Size0.18 Acres
Price / SF$240.86
Days on Market48
Property Features for 1115 Queen Av SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Albany-RS-6.5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1
Patio and Porch features
Patio
Subdivision
Amended Plat Of Oak Grove
Lot features
Lot: 19
Elementary school
South Shore
Middle school
North Albany
High school
South Albany
Standard status
Active Under Contract
APN
11S03W07DA01901
Size
1,598 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3324
Utilities
Heating system
Electric (Heating)
Amenities
private garage
backyard
Building Details
Year built
1968
Number of units
2
Flooring type
Laminate, Carpet, Tile
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
CHASE LOPEZ
(541) 401-9467
Added: Sep 3
Changed: Oct 14
Last Checked: Oct 20 at 8:06PM
MLS# 845355
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex contains two separate units, each measuring 799 square feet with two bedrooms and one bathroom. Both have private garages and backyard space. Interior finishes include laminate, carpet, and tile flooring, with electric heat. The property was built in 1968 and includes a patio. Total building area is 1,598 square feet on a 0.18-acre lot.
The property is in Albany, Oregon, and is zoned Albany-RS-6.5. One unit is vacant.
The property is in Albany, Oregon, and is zoned Albany-RS-6.5. One unit is vacant.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, and 799 square feet
- 1,598‑square‑foot duplex on a 0.18‑acre lot
- Private garage and backyard for 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
Explore this area
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 matching residences each include a two-bedroom, one-bath layout and 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 units, each with 2 bedrooms, 1 bathroom, and 799 square feet; 1,598‑square‑foot duplex on a 0.18‑acre lot; Private garage and backyard for each unit
