New Craftsman
For Sale
$649,000
1134 SW Greenwood Avenue, Grants Pass, OR 97526
Residential Income, Grants Pass, OR
Property Size2,652 SF
Lot Size0.19 Acres
Price / SF$244.72
Days on Market47
Property Features for 1134 SW Greenwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
R-1-6
Parking features
Driveway, Open
Window features
Vinyl Frames
Patio and Porch features
Porch
Interior features
Breakfast Bar, Ceiling Fan(s), Double Vanity, Granite Counters, Linen Closet, Open Floorplan, Pantry, Shower/Tub Combo, Tile Shower, Vaulted Ceiling(s), Walk-In Closet(s)
Appliances
Dishwasher, Disposal, Dryer, Microwave, Oven, Range, Range Hood, Refrigerator, Washer, Water Heater
View
Territorial
Elementary school
Parkside Elem
Middle school
North Middle
High school
Grants Pass High
Directions
Bridge St to left on Greenwood, property is a flag lot on the right side.
Standard status
Active
APN
R340285
Size
2,652 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
772
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Tile
Building materials
Frame
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
RE/MAX Integrity Grants Pass · RE/MAX International
(541) 955-8483
Listed By:
Valerie R Mall · License #201208004
(541) 659-1816
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 25 at 3:06AM
MLS# 220225090
Copyright © 2026 Oregon Data Share. 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.
Newly constructed Craftsman duplex at 1134 SW Greenwood Avenue in Grants Pass, OR, currently under construction with a target year built of 2026. The plan delivers two units, each with approximately 1,326 square feet of living space featuring an open floorplan, 9-foot ceilings, and flooring across vinyl, tile, and carpet. Kitchens include granite countertops, a pantry, and built-in-style finishes, and several interior features are present such as a breakfast bar, walk-in closets, double vanities, and ceiling fans.
Both bedrooms are located upstairs as private primary suites with en-suite bathrooms, with a convenient half bath on the main level. The home is built with frame construction and a composition roof. Heating is forced air with cooling provided by a heat pump. Utilities include public water and public sewer, with a porch and driveway plus open parking spaces.
Set back off the street in a quiet neighborhood, this duplex is positioned for convenient access to shopping, dining, schools, medical facilities, and other everyday amenities.
Both bedrooms are located upstairs as private primary suites with en-suite bathrooms, with a convenient half bath on the main level. The home is built with frame construction and a composition roof. Heating is forced air with cooling provided by a heat pump. Utilities include public water and public sewer, with a porch and driveway plus open parking spaces.
Set back off the street in a quiet neighborhood, this duplex is positioned for convenient access to shopping, dining, schools, medical facilities, and other everyday amenities.
Key Highlights
- Duplex under construction, year built 2026
- Two units, each with approximately 1,326 sq. ft.
- 9‑foot ceilings and open‑concept floor plan in 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
$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
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 - Newly constructed duplex under construction with open floorplans, 9-foot ceilings, and a heat pump HVAC system.
Where is this duplex located?
The property is located at 1134 SW Greenwood Avenue 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: Duplex under construction, year built 2026; Two units, each with approximately 1,326 sq. ft.; 9‑foot ceilings and open‑concept floor plan in each unit
