2-Unit Duplex with
For Sale
$525,000
112 Lea Ave, Eugene, OR 97404
Two matching residences provide three bedrooms, two bathrooms, private outdoor space, and convenient access to shopping, dining, and transit.
Property Size2,174 SF
Price / SF$241.49
Days on Market12
Property Features for 112 Lea Ave
General Information
Standard status
Active
Size
2,174 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Public Transit
Yes
Amenities
fenced yard
patio
laundry hookups
Building Details
Year Built
1995
Buildings
1
Listing Agency:
ICON Real Estate Group
(541) 912-4415
Listed By:
Jewon Jung · License #201203256
Source:
Christiesrealestateevg
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 9:02PM
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 ICON Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1995, this 2,174-square-foot duplex contains two matching residences, each arranged with three bedrooms and two full bathrooms. Both homes feature a two-story foyer staircase, a main-level living room, dining area, kitchen, and full bathroom, with three bedrooms and another full bathroom upstairs. Sliding doors connect the dining areas to the outdoor space.
Each side includes a single-car extra-deep garage with laundry hookups, along with an individually fenced backyard and open patio. The primary bedrooms receive abundant natural light and include additional closet space, while the other bedrooms overlook their respective backyards. The property is near shopping, restaurants, and transit.
Each side includes a single-car extra-deep garage with laundry hookups, along with an individually fenced backyard and open patio. The primary bedrooms receive abundant natural light and include additional closet space, while the other bedrooms overlook their respective backyards. The property is near shopping, restaurants, and transit.
Key Highlights
- 2,174‑square‑foot duplex built in 1995
- Two matching units, each with 3 bedrooms and 2 full bathrooms
- Single‑car extra‑deep garage with laundry hookups for each unit
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
$19,498
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
3.71%
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%
$389,960
$390.0K
Cap Rate 7%
$278,543
$278.5K
Cap Rate 9%
$216,644
$216.6K
Market Conditions
NOI Build-Up for 2,174 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
$28.2K $12.96/SF
− Vacancy
−$321 −$0.15/SF
EGI
$27.9K $12.81/SF
− OpEx
−$8.4K −$3.84/SF
NOI
$19.5K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$389,960
Cap Rate 7%
$278,543
Cap Rate 9%
$216,644
Alternative Uses
Best Use
Multifamily LT 5
$278.5K
$243.7K – $325.0K
NOI $19,498 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$243.0K
$212.6K – $283.5K
NOI $17,011 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$655.9K
$573.9K – $765.3K
NOI $45,915 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 97404, OR
34,345
Population
13,823
Households
2.5
Avg Household Size
43
Median Age
33%
College-Educated
94%
High-School Grad
9.6 sq mi
ZIP Area
3,578
Density / Sq Mi
$80,355
Median Household Income
$41,184
Median Earnings
$1,408
Median Rent
$397,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences provide three bedrooms, two bathrooms, private outdoor space, and convenient access to shopping, dining, and transit.
Where is this duplex located?
The property is located at 112 Lea Ave Eugene, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,174‑square‑foot duplex built in 1995; Two matching units, each with 3 bedrooms and 2 full bathrooms; Single‑car extra‑deep garage with laundry hookups for each unit
