Four-Building Duplex
New
For Sale
$1,800,000
1147 SW Tee Ln, Prineville, OR 97754
Eight residential units feature en suite bedrooms, garages, recent exterior improvements, and full occupancy.
Property Size9,600 SF
Price / SF$187.50
Days on Market2
Property Features for 1147 SW Tee Ln
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
8 x 2BR/2.5BA
Multifamily Units
8
Amenities
garage
off-street parking
Building Details
Year Built
2007
Buildings
4
Listing Agency:
Home and Land Real Estate
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Sep 1
Last Checked: Sep 2 at 4:40PM
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.
This offering includes four duplex buildings totaling 9,600 square feet, with each building measuring 2,400 square feet. The eight units provide 1,200 square feet each, with two bedrooms, 2.5 bathrooms, and en suite bedrooms in every residence. Each unit also includes a one-car garage and additional off-street parking.
Recent property improvements include new roofs and fresh exterior paint on all four buildings, completed within the last two years. The portfolio is 100% occupied and professionally managed. Each duplex sits on its own tax lot, and the property has no HOA or CC&Rs. Located at 1147 SW Tee Ln in Prineville, the buildings overlook Meadow Lakes golf course and are offered for sale as-is.
Recent property improvements include new roofs and fresh exterior paint on all four buildings, completed within the last two years. The portfolio is 100% occupied and professionally managed. Each duplex sits on its own tax lot, and the property has no HOA or CC&Rs. Located at 1147 SW Tee Ln in Prineville, the buildings overlook Meadow Lakes golf course and are offered for sale as-is.
Key Highlights
- Four duplex buildings on separate tax lots, totaling 8 doors
- 9,600 SF portfolio with 2,400 SF per building and 1,200 SF per unit
- Each unit offers 2 bedrooms, 2.5 bathrooms, and en suite bedrooms
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
$134,672
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
7.48%
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%
$2,693,440
$2.7M
Cap Rate 7%
$1,923,886
$1.9M
Cap Rate 9%
$1,496,356
$1.5M
Market Conditions
NOI Build-Up for 9,600 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
$207.4K $21.60/SF
− Vacancy
−$15.0K −$1.56/SF
EGI
$192.4K $20.04/SF
− OpEx
−$57.7K −$6.01/SF
NOI
$134.7K $14.03/SF
Area
Crook County, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$2,693,440
Cap Rate 7%
$1,923,886
Cap Rate 9%
$1,496,356
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,672 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $122,944 @ 7.0% cap · market cap 6.83%
Theoretical Best
Specialty Retail
$4.15M
$3.63M – $4.84M
NOI $290,304 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
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 - Eight residential units feature en suite bedrooms, garages, recent exterior improvements, and full occupancy.
Where is this duplex located?
The property is located at 1147 SW Tee Ln Prineville, OR.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Four duplex buildings on separate tax lots, totaling 8 doors; 9,600 SF portfolio with 2,400 SF per building and 1,200 SF per unit; Each unit offers 2 bedrooms, 2.5 bathrooms, and en suite bedrooms
