Three-Bedroom Duplex Income
121 Lincoln Street Klamath Falls, OR 97601
For Sale
$357,211
MULTI_FAMILY - Other - Klamath Falls, OR
Property Size1,944 SF
Lot Size0.12 Acres
Price / SF$183.75
Days on Market52
Property Features for 121 Lincoln Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Parking features
- Driveway, Carport
- Window features
- Aluminum Frames, Double Pane Windows
- Patio and Porch features
- Deck
- Interior features
- Laminate Counters, Shower/Tub Combo
- Appliances
- Dishwasher, Oven, Range, Range Hood, Refrigerator, Water Heater
- Standard status
- Active
- APN
- 475104
- Size
- 1,944 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2371
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1981
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Simulated wood, Carpet, Vinyl
- Building materials
- Block, Frame
- Roof type
- Composition
- Architectural style
- Other
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Candi Sonerholm · License #920300241
(541) 891-4664
Added: Jun 4
Changed: Jul 25
Last Checked: Jul 25 at 7:06PM
MLS# 220222773
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.
This duplex offers two residential units, each configured with three bedrooms. The property is described as being in nice condition, with updates that include newer kitchen flooring and appliances in Unit 119, along with window coverings and a toilet replacement. Both units include washer and dryer hookups. Unit 121 has received new paint and new flooring, including luxury vinyl plank in the kitchen and new carpet and window coverings. Roof age is listed as less than two years, and exterior paint is described as approximately one year old.
The duplex is located at 121 Lincoln Street in Klamath Falls, Oregon. One side of the duplex is currently vacant to facilitate viewing. Unit 119 is occupied and managed by First Choice under a one-year lease.
From an ownership or investment standpoint, the property provides a two-unit rental setup with tenant-paid electric and water and sewer arrangements where the owner pays the first $50 per month and tenants split the remaining balance. Unit 119 is rented at $1,275 under a one-year lease, while Unit 121 is currently vacant, offering flexibility for an incoming tenant when ready.
The duplex is located at 121 Lincoln Street in Klamath Falls, Oregon. One side of the duplex is currently vacant to facilitate viewing. Unit 119 is occupied and managed by First Choice under a one-year lease.
From an ownership or investment standpoint, the property provides a two-unit rental setup with tenant-paid electric and water and sewer arrangements where the owner pays the first $50 per month and tenants split the remaining balance. Unit 119 is rented at $1,275 under a one-year lease, while Unit 121 is currently vacant, offering flexibility for an incoming tenant when ready.
Key Highlights
- Duplex built in 1981 with 3 bedrooms in each unit
- Unit 119 (occupied) rents for $1,275 with a 1‑year lease; newer refrigerator and updated kitchen flooring
- Unit 121 is currently vacant and has new paint plus new carpeting and luxury vinyl plank flooring in the kitchen and front room
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.7k | $12.72 |
| − Vacancy | −$2.1k | −$1.08 |
| EGI | $22.6k | $11.64 |
| − OpEx | −$6.8k | −$3.49 |
| NOI | $15.8k | $8.15 |
1,944 SF · lease $12.72/SF/yr · vacancy 8.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.1K
NOI $15,845 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$200.4K
$175.3K – $233.8K
NOI $14,026 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$397.3K
$347.7K – $463.6K
NOI $27,814 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-kept duplex features three bedrooms per unit and in-unit washer/dryer hookups for tenant convenience.
Where is this duplex located?
The property is located at 121 Lincoln Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $357,211.
What are key features of this property?
This property features: Duplex built in 1981 with 3 bedrooms in each unit; Unit 119 (occupied) rents for $1,275 with a 1‑year lease; newer refrigerator and updated kitchen flooring; Unit 121 is currently vacant and has new paint plus new carpeting and luxury vinyl plank flooring in the kitchen and front room
