Updated Duplex with
For Sale
$347,211
121 Lincoln Street, Klamath Falls, OR 97601
Residential Income, Klamath Falls, OR
Property Size1,944 SF
Lot Size0.12 Acres
Price / SF$178.61
Days on Market147
Property Features for 121 Lincoln Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
MD
Parking features
Carport, Driveway
Window features
Double Pane Windows, Aluminum Frames
Patio and Porch features
Deck
Interior features
Laminate Counters, Shower/Tub Combo
Appliances
Dishwasher, Oven, Range, Range Hood, Refrigerator, Water Heater
Subdivision
Klamath Falls -Ewauna Heights Addition
Lot features
Fenced, Sloped
Elementary school
Joseph Conger Elem
Middle school
Ponderosa Middle
High school
Klamath Union High School
Directions
Up 2nd street from Main. Left on Lincoln. Unit on right.
Standard status
Active
APN
475104
Size
1,944 SF
Lot size
0.12 Acres
Additional Details
Tenant in Place
Yes
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
Amenities
washer dryer hook ups
Building Details
Year built
1981
Floors in Building
2
Number of units
2
Flooring type
Carpet, Simulated wood, Laminate, Vinyl
Building materials
Block, Frame
Roof type
Composition
Architectural style
Other
Buildings
1
Listing Agency:
Fisher Nicholson Realty, LLC
(541) 884-1717
Listed By:
Candi Sonerholm
(541) 891-4664
Added: Jun 4
Changed: Oct 27
Last Checked: Oct 28 at 6:06AM
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.
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Investment Insights
Based on property information with market context.
This 1981 duplex contains two three-bedroom units across 1,944 square feet on a 0.12-acre lot. Recent interior work includes flooring, paint, and window coverings in both residences, along with a newer refrigerator and toilet in one unit. Each unit has washer and dryer connections. The property also features a composition roof, exterior paint completed approximately one year ago, driveway and carport parking, and a deck.
One residence is occupied under a one-year lease at $1,275 per month; the second unit is vacant. The owner covers the first $50 per month of water and sewer charges, with tenants sharing the remaining costs. Tenants pay their own electricity. Public water and sewer serve the property, and a basic home warranty is included.
One residence is occupied under a one-year lease at $1,275 per month; the second unit is vacant. The owner covers the first $50 per month of water and sewer charges, with tenants sharing the remaining costs. Tenants pay their own electricity. Public water and sewer serve the property, and a basic home warranty is included.
Key Highlights
- Two units, each with 3 bedrooms
- 1,944 square feet on a 0.12‑acre lot
- One unit leased for $1,275 with a 1‑year lease; the other is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,845
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,900
$316.9K
Cap Rate 7%
$226,357
$226.4K
Cap Rate 9%
$176,056
$176.1K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$24.7K $12.72/SF
− Vacancy
−$2.1K −$1.08/SF
EGI
$22.6K $11.64/SF
− OpEx
−$6.8K −$3.49/SF
NOI
$15.8K $8.15/SF
Area
Klamath County, OR
Vacancy
8.46%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,900
Cap Rate 7%
$226,357
Cap Rate 9%
$176,056
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.1K
NOI $15,845 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$200.4K
$175.3K – $233.8K
NOI $14,026 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$397.3K
$347.7K – $463.6K
NOI $27,814 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
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Business Placement
Demographics for 97601, OR
23,264
Population
10,936
Households
2.1
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
577.8 sq mi
ZIP Area
40
Density / Sq Mi
$53,333
Median Household Income
$31,011
Median Earnings
$972
Median Rent
$266,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both three-bedroom residences have washer and dryer connections, with one unit leased and the other vacant.
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 $347,211.
What are key features of this property?
This property features: Two units, each with 3 bedrooms; 1,944 square feet on a 0.12‑acre lot; One unit leased for $1,275 with a 1‑year lease; the other is vacant
