Single-Level Duplex with
For Sale
$550,000
1227 SW 17th Street, Redmond, OR 97756
Residential Income, Redmond, OR
Property Size1,796 SF
Lot Size0.19 Acres
Price / SF$306.24
Days on Market155
Property Features for 1227 SW 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R5
Parking features
Driveway, On Street, Carport
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
carport
storage
fenced lot
Building Details
Year built
1973
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet
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: Aug 19
Last Checked: Aug 20 at 7:06AM
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. Each unit measures 898 square feet, with laminate and carpet flooring, electric baseboard heat, and window or wall/window cooling units. The property includes separate electric and water meters, public water and sewer, composition roofing, and frame construction. One residence is vacant and has a recently renovated bathroom, while the other is occupied by a tenant. Exterior improvements include fresh paint, gutters, and updated baseboard heaters.
The property occupies a fenced 0.19-acre lot at 1227 SW 17th Street in Redmond, Oregon. Parking is provided through carports, a driveway, and on-street spaces, with additional storage available on site. Interior features include ceiling fans, laminate counters, linen closets, and shower/tub combinations. Appliances include ranges, ovens, refrigerators, dishwashers, disposals, range hoods, and water heaters.
The property occupies a fenced 0.19-acre lot at 1227 SW 17th Street in Redmond, Oregon. Parking is provided through carports, a driveway, and on-street spaces, with additional storage available on site. Interior features include ceiling fans, laminate counters, linen closets, and shower/tub combinations. Appliances include ranges, ovens, refrigerators, dishwashers, disposals, range hoods, and water heaters.
Key Highlights
- Two 898 sq ft units, each configured with 2BR/1BA
- 1,796‑square‑foot single‑level duplex on a fenced 0.19‑acre lot
- Separate electric and water meters for the two residences
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
Lease Details
2
Residential units
50%
Occupancy
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
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 separately metered residences support an owner-occupant or rental configuration on a fenced lot.
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 $550,000.
What are key features of this property?
This property features: Two 898 sq ft units, each configured with 2BR/1BA; 1,796‑square‑foot single‑level duplex on a fenced 0.19‑acre lot; Separate electric and water meters for the two residences
