Single-Level Duplex with
For Sale
$525,000
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$292.32
Days on Market61
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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:
Holder Realty
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Aug 16
Changed: Oct 15
Last Checked: Oct 14 at 11:36PM
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 Holder Realty
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 / Yr
$25,195
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
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
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 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 4.80%
Second Best
Apartment 5plus
$328.6K
$287.5K – $383.4K
NOI $23,001 @ 7.0% cap · market cap 4.38%
Theoretical Best
Retail
$618.1K
$540.9K – $721.1K
NOI $43,268 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 $525,000.
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
