Duplex with Separate Living
For Sale
$515,000
112 MELLINGER Pl, Dayton, OR 97114
MultiFamily, Dayton, OR
Property Size2,448 SF
Lot Size0.72 Acres
Price / SF$210.38
Days on Market206
Property Features for 112 MELLINGER Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1
Elementary school
Dayton
Middle school
Dayton
High school
Dayton
Directions
South on Dayton - Salem Hwy, Right in SE Palmer Lane, Right on Mellinger Place
Subdivision
_156
Standard status
Active
APN
512629
Size
2,448 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Description
LOT 21 IN PALMER RIDGE
Tax Annual Amount
4646
Legal Description
LOT 21 IN PALMER RIDGE
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water front features
Creek
Water front
1
Amenities
hot tub
laundry room
Building Details
Year built
2000
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Francisco Stoller · License #201207551
(503) 939-6818
Added: Feb 15
Changed: Sep 9
Last Checked: Sep 9 at 7:06PM
MLS# 238199502
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.
This 2,448-square-foot duplex, built in 2000, combines a three-bedroom, two-bathroom main residence with a lower-level one-bedroom, one-bathroom apartment. The main level features vaulted ceilings, an open kitchen with breakfast bar and pantry, hard-surface flooring, a primary suite with walk-in closet and ensuite bath, and deck access. The apartment adds a full kitchen, laundry room, living and flex areas, storage, and a separate entrance, with heating and cooling provided by a mini-split heat pump.
Set on 0.72 acres at the end of a private drive, the property backs to a creek and includes a sprawling deck with a built-in sunken hot tub. The main HVAC system has been serviced, and the composition roof was replaced in 2021. The property is zoned R1 and has no HOA.
Set on 0.72 acres at the end of a private drive, the property backs to a creek and includes a sprawling deck with a built-in sunken hot tub. The main HVAC system has been serviced, and the composition roof was replaced in 2021. The property is zoned R1 and has no HOA.
Key Highlights
- 2,448‑square‑foot duplex on 0.72 acres
- Main residence includes 3 bedrooms and 2 bathrooms
- Lower‑level apartment has 1 bedroom, 1 bathroom, full kitchen, and laundry room
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
$31,432
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
6.10%
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%
$628,640
$628.6K
Cap Rate 7%
$449,029
$449.0K
Cap Rate 9%
$349,244
$349.2K
Market Conditions
NOI Build-Up for 2,448 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
$60.2K $24.60/SF
− Vacancy
−$3.1K −$1.25/SF
EGI
$57.1K $23.35/SF
− OpEx
−$25.7K −$10.51/SF
NOI
$31.4K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$628,640
Cap Rate 7%
$449,029
Cap Rate 9%
$349,244
Alternative Uses
Best Use
Apartment 5plus
$449.0K
$392.9K – $523.9K
NOI $31,432 @ 7.0% cap · market cap 6.10%
Second Best
Multifamily LT 5
$385.3K
$337.1K – $449.5K
NOI $26,969 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$660.8K
$578.2K – $770.9K
NOI $46,254 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 97114, OR
5,008
Population
1,720
Households
2.9
Avg Household Size
40
Median Age
34%
College-Educated
89%
High-School Grad
59.6 sq mi
ZIP Area
84
Density / Sq Mi
$87,560
Median Household Income
$40,039
Median Earnings
$1,514
Median Rent
$455,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-level layout combines a spacious primary residence with a private apartment and creek setting.
Where is this duplex located?
The property is located at 112 MELLINGER Pl Dayton, 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: 2,448‑square‑foot duplex on 0.72 acres; Main residence includes 3 bedrooms and 2 bathrooms; Lower‑level apartment has 1 bedroom, 1 bathroom, full kitchen, and laundry room
