New Two-Unit
For Sale
$649,000
1134 SW Greenwood Ave, Grants Pass, OR 97526
Two residential units feature private primary suites, modern kitchens, and a half bath on each main level.
Property Size2,652 SF
Price / SF$244.72
Days on Market51
Property Features for 1134 SW Greenwood Ave
General Information
Standard status
Active
Size
2,652 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Home and Land Real Estate
(541) 301-7980
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Jul 12
Changed: Aug 29
Last Checked: Aug 30 at 4:18PM
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 Home and Land Real Estate
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 2,652 square feet across two residential units, with approximately 1,326 square feet per unit. Each residence offers an open living arrangement, 9-foot ceilings, luxury vinyl plank flooring, and ample daylight. Kitchens include cabinetry, granite countertops, and substantial storage. Both bedrooms in each unit are configured as private primary suites with attached bathrooms, while an additional half bath serves the main floor.
The property is set back from the street in a quiet neighborhood at 1134 SW Greenwood Ave in Grants Pass. Shopping, dining, schools, medical facilities, and daily services are described as minutes away, providing convenient access to routine amenities. The duplex configuration supports either continued rental use or owner occupancy.
The property is set back from the street in a quiet neighborhood at 1134 SW Greenwood Ave in Grants Pass. Shopping, dining, schools, medical facilities, and daily services are described as minutes away, providing convenient access to routine amenities. The duplex configuration supports either continued rental use or owner occupancy.
Key Highlights
- Two‑unit duplex totaling 2,652 square feet
- Approximately 1,326 sq. ft. per unit
- Built in 2026 with 9‑foot ceilings
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
$21,541
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
3.32%
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%
$430,820
$430.8K
Cap Rate 7%
$307,729
$307.7K
Cap Rate 9%
$239,344
$239.3K
Market Conditions
NOI Build-Up for 2,652 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
$32.5K $12.24/SF
− Vacancy
−$1.7K −$0.64/SF
EGI
$30.8K $11.60/SF
− OpEx
−$9.2K −$3.48/SF
NOI
$21.5K $8.12/SF
Area
Josephine County, OR
Vacancy
5.20%
Lease Rate
$12.24 /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%
$430,820
Cap Rate 7%
$307,729
Cap Rate 9%
$239,344
Alternative Uses
Best Use
Multifamily LT 5
$307.7K
$269.3K – $359.0K
NOI $21,541 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,996 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$601.3K
$526.2K – $701.5K
NOI $42,092 @ 7.0% cap · market cap 6.49%
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
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
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 - Two residential units feature private primary suites, modern kitchens, and a half bath on each main level.
Where is this duplex located?
The property is located at 1134 SW Greenwood Ave Grants Pass, OR.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,652 square feet; Approximately 1,326 sq. ft. per unit; Built in 2026 with 9‑foot ceilings
