Two-Story Duplex with Private
For Sale
$515,000
112 LEA Ave, Eugene, OR 97404
MultiFamily, Eugene, OR
Property Size2,174 SF
Lot Size0.12 Acres
Price / SF$236.89
Days on Market51
Property Features for 112 LEA Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3
Elementary school
Spring Creek
Middle school
Madison
High school
North Eugene
Directions
River Road, west on Ruby, left on Lea
Subdivision
_248
Standard status
Active
APN
1526274
Size
2,174 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
Map & Taxlot#17-04-14-11-00132
Tax Annual Amount
4031
Legal Description
Map & Taxlot#17-04-14-11-00132
Utilities
Heating system
Ceiling
Amenities
garage
laundry hookups
fenced yard
patio
Building Details
Year built
1995
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
ICON Real Estate Group
(541) 915-2080
Listed By:
Jewon Jung · License #201203256
(541) 912-4415
Added: Jul 7
Changed: Aug 25
Last Checked: Aug 26 at 1:06AM
MLS# 226426770
Copyright © 2026 Regional Multiple Listing Services. 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.
Built in 1995, this R2-zoned duplex contains 2,174 square feet and offers two matching residences. Each side includes three bedrooms and two full bathrooms arranged across two levels, with a foyer, living room, dining area, and kitchen on the main floor. Sliding glass doors connect the dining area to a privately fenced backyard and open patio. Upstairs, each unit includes three bedrooms and a second full bathroom, with added closet space in the primary bedroom.
Both residences feature a single-car extra-deep garage with laundry hookups. The property occupies 0.12 acres and has a composition roof with ceiling heating. Shopping, restaurants, and transit are identified in the surrounding area, and appointments are required for access.
Both residences feature a single-car extra-deep garage with laundry hookups. The property occupies 0.12 acres and has a composition roof with ceiling heating. Shopping, restaurants, and transit are identified in the surrounding area, and appointments are required for access.
Key Highlights
- Two‑unit duplex with 2,174 square feet
- Each residence has 3 bedrooms and 2 bathrooms
- Built in 1995 on a 0.12‑acre lot
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
3.79%
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 3.79%
Second Best
Apartment 5plus
$243.0K
$212.6K – $283.5K
NOI $17,011 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$655.9K
$573.9K – $765.3K
NOI $45,915 @ 7.0% cap · market cap 8.92%
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
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Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned duplex with matching layouts, fenced outdoor areas, patios, and attached garages with laundry hookups.
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 $515,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,174 square feet; Each residence has 3 bedrooms and 2 bathrooms; Built in 1995 on a 0.12‑acre lot
