Four-Plex with
For Sale
$989,000
131 SE Ainslee Avenue, Depoe Bay, OR 97341
MULTI_FAMILY - Other - Depoe Bay, OR
Property Size4,005 SF
Lot Size0.18 Acres
Price / SF$246.94
Days on Market302
Property Features for 131 SE Ainslee Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5 Residential
Bedrooms
10
Bathrooms
8
Full bathrooms
6
Half bathrooms
4
Rooms
Bathroom 6, Bathroom 1, Bathroom 7, Bedroom 7, Bathroom 2, Bathroom 10, Bedroom 3, Bathroom 8, Bedroom 8, Bedroom 9, Bathroom 9, Bedroom 1, Bathroom 4, Bathroom 5, Bathroom 3, Bedroom 10, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 4
Parking
5
Window features
Window Treatments
Patio and Porch features
Deck
Appliances
Dishwasher, Electric Oven, Electric Range, Microwave, Refrigerator, Water Heater
Subdivision
Depoe Bay
Directions
Hwy 101 to Collins Ave - turn East on Collins and then Right on Ainslee to the 4-Plex on the right.
Standard status
Active
APN
091108AA-302-00
Size
4,005 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5061
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating)
Water source
Public
Building Details
Year built
1995
Floors in Building
2
Number of units
4
Flooring type
Wood, Carpet
Building materials
Engineered Wood Siding, Lap Siding, T1-11 Type
Roof type
Composition
Architectural style
Other
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Steve J Rutherford · License #850600162
(503) 334-9178
Added: Oct 17, 2025
Changed: Aug 3
Last Checked: Aug 14 at 5:06AM
MLS# LC-105019
Copyright © 2026 Oregon Coast MLS. 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.
A four-plex quadplex on a 0.18-acre lot with a total property size of 4,005 square feet, built in 1995. The property includes a deck and is served by public water and public sewer. Heating is listed as zoned electric.
The unit mix consists of two 3-bedroom/2-bath units and two 2-bedroom/2-bath units. Public remarks indicate some long-term renters and a good rental history, and that one unit is available for showings at this time. A live-in-and-rent approach or renting all four units are both suggested by the current offering.
Construction materials are listed as engineered wood siding, lap siding, and T1-11 type, with a composition roof. In-unit appliances listed include a dishwasher, electric oven, electric range, microwave, refrigerator, and water heater.
The unit mix consists of two 3-bedroom/2-bath units and two 2-bedroom/2-bath units. Public remarks indicate some long-term renters and a good rental history, and that one unit is available for showings at this time. A live-in-and-rent approach or renting all four units are both suggested by the current offering.
Construction materials are listed as engineered wood siding, lap siding, and T1-11 type, with a composition roof. In-unit appliances listed include a dishwasher, electric oven, electric range, microwave, refrigerator, and water heater.
Key Highlights
- R‑5 Residential zoning
- 0.18‑acre lot
- 4,005 square feet total
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
$37,326
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
3.77%
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%
$746,520
$746.5K
Cap Rate 7%
$533,229
$533.2K
Cap Rate 9%
$414,733
$414.7K
Market Conditions
NOI Build-Up for 4,005 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
$55.3K $13.80/SF
− Vacancy
−$1.9K −$0.49/SF
EGI
$53.3K $13.31/SF
− OpEx
−$16.0K −$3.99/SF
NOI
$37.3K $9.32/SF
Area
Lincoln County, OR
Vacancy
3.52%
Lease Rate
$13.80 /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%
$746,520
Cap Rate 7%
$533,229
Cap Rate 9%
$414,733
Alternative Uses
Best Use
Multifamily LT 5
$533.2K
$466.6K – $622.1K
NOI $37,326 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$490.9K
$429.6K – $572.7K
NOI $34,364 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.04M
$914.1K – $1.22M
NOI $73,124 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 97341, OR
2,659
Population
2,693
Households
1
Avg Household Size
60
Median Age
32%
College-Educated
98%
High-School Grad
9.9 sq mi
ZIP Area
269
Density / Sq Mi
$62,917
Median Household Income
$47,273
Median Earnings
$1,316
Median Rent
$344,700
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?
Quadplex - Four-plex in R-5 Residential zoning with public water and public sewer, plus an exterior deck.
Where is this quadplex located?
The property is located at 131 SE Ainslee Avenue Depoe Bay, OR.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: R‑5 Residential zoning; 0.18‑acre lot; 4,005 square feet total
