Single-Level Duplex with
For Sale
$550,000
1227 SW 17th St, Redmond, OR 97756
Two-bedroom units feature separate utility meters and one recently renovated bathroom.
Property Size1,796 SF
Price / SF$306.24
Days on Market16
Property Features for 1227 SW 17th St
General Information
Standard status
Active
Size
1,796 SF
Property subtype
Multi-Family
Building Details
Year Built
1973
Listing Agency:
Cascade Hasson Sir
(541) 595-8444
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 8:40PM
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 Cascade Hasson Sir
Investment Insights
Based on property information with market context.
Located at 1227 SW 17th St in Redmond, this single-level duplex contains two 2BR/1BA residences, each measuring 898 square feet, for a combined 1,796 square feet. Built in 1973, the property includes one vacant unit with a newly renovated bathroom and a second unit that is tenant occupied.
Recent property updates include exterior paint, gutters, and baseboard heaters. Each residence has separate electric and water meters. The fenced 0.19-acre lot provides carport parking and storage, adding practical functionality for the two-unit configuration.
Recent property updates include exterior paint, gutters, and baseboard heaters. Each residence has separate electric and water meters. The fenced 0.19-acre lot provides carport parking and storage, adding practical functionality for the two-unit configuration.
Key Highlights
- Two 898‑square‑foot units, each with 2BR/1BA layouts
- One unit is vacant and includes a newly renovated bathroom
- Second unit is tenant occupied
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
$25,195
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
4.58%
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%
$503,900
$503.9K
Cap Rate 7%
$359,929
$359.9K
Cap Rate 9%
$279,944
$279.9K
Market Conditions
NOI Build-Up for 1,796 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
$38.8K $21.60/SF
− Vacancy
−$2.8K −$1.56/SF
EGI
$36.0K $20.04/SF
− OpEx
−$10.8K −$6.01/SF
NOI
$25.2K $14.03/SF
Area
Deschutes 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%
$503,900
Cap Rate 7%
$359,929
Cap Rate 9%
$279,944
Alternative Uses
Best Use
Multifamily LT 5
$359.9K
$314.9K – $419.9K
NOI $25,195 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$328.6K
$287.5K – $383.4K
NOI $23,001 @ 7.0% cap · market cap 4.18%
Theoretical Best
Retail
$618.1K
$540.9K – $721.1K
NOI $43,268 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
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 - Two-bedroom units feature separate utility meters and one recently renovated bathroom.
Where is this duplex located?
The property is located at 1227 SW 17th St Redmond, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two 898‑square‑foot units, each with 2BR/1BA layouts; One unit is vacant and includes a newly renovated bathroom; Second unit is tenant occupied
