Single-Level Duplex with
For Sale
$525,000
1227 SW 17th Street, Redmond, OR 97756
Residential Income, Redmond, OR
Property Size1,796 SF
Lot Size0.19 Acres
Price / SF$292.32
Days on Market200
Property Features for 1227 SW 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R5
Parking features
Carport, On Street, Driveway
Window features
Double Pane Windows, Vinyl Frames
Interior features
Ceiling Fan(s), Laminate Counters, Linen Closet, Shower/Tub Combo
Appliances
Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator, Water Heater
Subdivision
Canyon View
Lot features
Fenced
View
Territorial
Elementary school
M A Lynch Elem
Middle school
Obsidian Middle
High school
Ridgeview High
Standard status
Active
APN
124032
Size
1,796 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3431
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
storage
Building Details
Year built
1973
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Frame
Roof type
Composition
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Root & Branch Realty Group · RE/MAX International
(541) 447-8993
Listed By:
Nancy L. Kramer
(757) 634-1009
Added: Mar 19
Changed: Oct 2
Last Checked: Oct 4 at 9:06PM
MLS# 220217895
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 single-level duplex contains two 2BR/1BA residences totaling 1,796 square feet, with 898 sq ft in each unit. One residence is vacant and has a newly renovated bathroom, while the other is tenant occupied. The property includes carport parking, storage, a fenced lot, separate electric and water meters, and a ranch-style layout built in 1973.
Recent property improvements include exterior paint, gutters, and baseboard heaters. Interior features include laminate counters, carpet and laminate flooring, ceiling fans, linen closets, and shower/tub combinations. Each residence includes a range, range hood, oven, refrigerator, dishwasher, disposal, and water heater. Public water and public sewer serve the property, with electric baseboard heating and wall/window cooling units.
Recent property improvements include exterior paint, gutters, and baseboard heaters. Interior features include laminate counters, carpet and laminate flooring, ceiling fans, linen closets, and shower/tub combinations. Each residence includes a range, range hood, oven, refrigerator, dishwasher, disposal, and water heater. Public water and public sewer serve the property, with electric baseboard heating and wall/window cooling units.
Key Highlights
- Two 2BR/1BA units, each measuring 898 sq ft
- 1,796‑square‑foot duplex on a 0.19‑acre lot
- One vacant unit with a newly renovated bathroom
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
4.80%
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 4.80%
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Yes
Utilities to site
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
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 separately metered residences include an updated bathroom, fenced outdoor space, and public water and sewer service.
Where is this duplex located?
The property is located at 1227 SW 17th Street 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 2BR/1BA units, each measuring 898 sq ft; 1,796‑square‑foot duplex on a 0.19‑acre lot; One vacant unit with a newly renovated bathroom
