Multifamily Property with Attached
New
For Sale
$919,000
1290 NW Knoxville Boulevard, Bend, OR 97703
Multifamily property with RM zoning, alley access, and an attached garage.
Property Size3,110 SF
Days on Market7
Property Features for 1290 NW Knoxville Boulevard
General Information
Standard status
Active
Size
3,110 SF
Property subtype
Residential Income
Zoning
RM
Taxes and HOA fees
Annual Taxes
$6,977
Amenities
None, Ceiling Fan(s)
Electric, Zoned
Dishwasher, Disposal, Microwave, Range, Refrigerator
Ceiling Fan(s), Laminate Counters
Neighborhood
Alley Access, Asphalt, Attached, Garage Door Opener, On Street, Garage
Traditional
Building Details
Building Size
3,110 SF
Year Built
1997
Listing Agency:
(541) 408-3781
Listed By:
Mark Ryan Garcia
(541) 408-3781
Source:
Evrealestate
Added: Aug 1
Changed: Aug 4
Last Checked: Aug 6 at 4:24AM
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 Mark Ryan Garcia
Investment Insights
Based on property information with market context.
This multifamily property was built in 1997 and is located at 1290 NW Knoxville Boulevard in Bend, Oregon. The property carries RM zoning and includes an attached garage with a garage door opener, asphalt access, alley access, and on-street parking options.
Interior features include electric zoned heating, ceiling fans, laminate counters, a dishwasher, disposal, microwave, range, and refrigerator. The property is situated in Deschutes County.
Interior features include electric zoned heating, ceiling fans, laminate counters, a dishwasher, disposal, microwave, range, and refrigerator. The property is situated in Deschutes County.
Key Highlights
- RM zoning
- 1997 construction
- Attached garage with garage door opener
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
$39,829
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
4.33%
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%
$796,580
$796.6K
Cap Rate 7%
$568,986
$569.0K
Cap Rate 9%
$442,544
$442.5K
Market Conditions
NOI Build-Up for 3,110 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
$78.4K $25.20/SF
− Vacancy
−$6.0K −$1.92/SF
EGI
$72.4K $23.28/SF
− OpEx
−$32.6K −$10.48/SF
NOI
$39.8K $12.81/SF
Area
Bend, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$796,580
Cap Rate 7%
$568,986
Cap Rate 9%
$442,544
Alternative Uses
Best Use
Apartment 5plus
$569.0K
$497.9K – $663.8K
NOI $39,829 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.34M
$1.18M – $1.57M
NOI $94,046 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 97703, OR
32,475
Population
16,032
Households
2
Avg Household Size
45
Median Age
60%
College-Educated
98%
High-School Grad
269.8 sq mi
ZIP Area
120
Density / Sq Mi
$118,160
Median Household Income
$52,182
Median Earnings
$1,831
Median Rent
$915,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with RM zoning, alley access, and an attached garage.
Where is this multifamily property located?
The property is located at 1290 NW Knoxville Boulevard Bend, OR.
What is the asking price?
The asking price for this property is $919,000.
What are key features of this property?
This property features: RM zoning; 1997 construction; Attached garage with garage door opener
