Multifamily Property with Fenced
New
For Sale
$1,190,000
115 NE A ST, Madras, OR 97741
Well-maintained multifamily asset with updated mini-split HVAC serving all units and direct access to outdoor space.
Property Size6,125 SF
Price / SF$194.29
Days on Market2
Property Features for 115 NE A ST
General Information
Standard status
Active
Size
6,125 SF
Property subtype
Multi-Family
Building Details
Year Built
1961
Listing Agency:
Amy Dean Real Estate, Inc.
Listed By:
NW Pacific Realty
(503) 783-9401
Source:
Nwpacificrealty
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 2:18PM
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 Amy Dean Real Estate, Inc.
Investment Insights
Based on property information with market context.
This multifamily property offers 6,125 square feet of residential space in a building constructed in 1961. Recent improvements include mini-split HVAC systems installed throughout all units. The grounds include a grass backyard enclosed by fencing, providing shared outdoor space for residents.
Located at 115 NE A St in Madras, the property sits next to Sahalee Park, which features a splash park, playground equipment, a pavilion, and picnic areas. Schools, trails, and a bowling center are nearby, while shops, restaurants, banks, and other services are within walking distance.
Located at 115 NE A St in Madras, the property sits next to Sahalee Park, which features a splash park, playground equipment, a pavilion, and picnic areas. Schools, trails, and a bowling center are nearby, while shops, restaurants, banks, and other services are within walking distance.
Key Highlights
- 6,125‑square‑foot multifamily property built in 1961
- Recently added mini‑split HVAC systems in all units
- Fenced grass backyard provides shared outdoor space
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
$78,441
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
6.59%
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%
$1,568,820
$1.6M
Cap Rate 7%
$1,120,586
$1.1M
Cap Rate 9%
$871,567
$871.6K
Market Conditions
NOI Build-Up for 6,125 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
$154.4K $25.20/SF
− Vacancy
−$11.7K −$1.92/SF
EGI
$142.6K $23.28/SF
− OpEx
−$64.2K −$10.48/SF
NOI
$78.4K $12.81/SF
Area
Jefferson County, OR
Vacancy
7.60%
Lease Rate
$25.20 /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%
$1,568,820
Cap Rate 7%
$1,120,586
Cap Rate 9%
$871,567
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$980.5K – $1.31M
NOI $78,441 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,220 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 97741, OR
13,753
Population
4,777
Households
2.9
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
363.9 sq mi
ZIP Area
38
Density / Sq Mi
$69,696
Median Household Income
$37,641
Median Earnings
$993
Median Rent
$308,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained multifamily asset with updated mini-split HVAC serving all units and direct access to outdoor space.
Where is this multifamily property located?
The property is located at 115 NE A ST Madras, OR.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 6,125‑square‑foot multifamily property built in 1961; Recently added mini‑split HVAC systems in all units; Fenced grass backyard provides shared outdoor space
