Duplex with Detached
New
For Sale
$999,990
1204 NW Ithaca Ave, Bend, OR 97703
Two separate residences, each with a private garage, share a corner parcel with additional garage and shop space.
Property Size2,024 SF
Lot Size0.25 Acres
Price / SF$494.07
Days on Market2
Property Features for 1204 NW Ithaca Ave
General Information
Standard status
Active
Size
2,024 SF
Total Parking Spaces
4
Lot size
0.25 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1972
Stories
1
Tenancy
Multi
Listing Agency:
Home and Land Real Estate
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 5 at 4:22PM
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 duplex property comprises two single-level residences: one with three bedrooms and two bathrooms, and another with two bedrooms and two bathrooms. Each residence has its own garage. The property also includes a detached two-car garage and a 720-square-foot shop. Built in 1972, the improvements sit on a quarter-acre corner lot with mature trees.
Tenants are in place under month-to-month tenancies. The property is three blocks from the river.
Tenants are in place under month-to-month tenancies. The property is three blocks from the river.
Key Highlights
- Two residences: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 2 bathrooms
- Each residence has a private garage
- Detached double‑car garage and 720 sq ft shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,393
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,860
$567.9K
Cap Rate 7%
$405,614
$405.6K
Cap Rate 9%
$315,478
$315.5K
Market Conditions
NOI Build-Up for 2,024 SF
Gross rent
$43.7K $21.60/SF
− Vacancy
−$3.2K −$1.56/SF
EGI
$40.6K $20.04/SF
− OpEx
−$12.2K −$6.01/SF
NOI
$28.4K $14.03/SF
Area
Bend, 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 Rate 5%
$567,860
Cap Rate 7%
$405,614
Cap Rate 9%
$315,478
Alternative Uses
Best Use
Multifamily LT 5
$405.6K
$354.9K – $473.2K
NOI $28,393 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$370.3K
$324.0K – $432.0K
NOI $25,921 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$874.4K
$765.1K – $1.02M
NOI $61,206 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
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Business Placement
Demographics for 97703, OR
32,475
Population
16,032
Households
2
Avg Household Size
45
Median Age
60%
College-Educated
98%
High-School Grad
269.8 sq mi
ZIP Area
120
Density / Sq Mi
$118,160
Median Household Income
$52,182
Median Earnings
$1,831
Median Rent
$915,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Two separate residences, each with a private garage, share a corner parcel with additional garage and shop space.
Where is this duplex located?
The property is located at 1204 NW Ithaca Ave Bend, OR.
What is the asking price?
The asking price for this property is $999,990.
What are key features of this property?
This property features: Two residences: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 2 bathrooms; Each residence has a private garage; Detached double‑car garage and 720 sq ft shop
