Two-Home Duplex
1320 Covina Avenue, Medford, OR 97504
For Sale
$746,500
Residential Income, Medford, OR
Property Size3,683 SF
Lot Size0.63 Acres
Price / SF$202.69
Days on Market95
Property Features for 1320 Covina Avenue
General Information
Property type
Property subtype
Zoning description
Parking features
Window features
Patio and Porch features
Interior features
Fireplace
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
Trex deck
fenced yards
mature landscaping
covered patio
RV dump
mini split system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 770-3325
Listed By:
Kelli Hokinson · License OR #200301037
(541) 261-1004
Added: Aug 13
Changed: Oct 31
Last Checked: Nov 15 at 2:06PM
MLS# 220227027
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.
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Investment Insights
Based on property information with market context.
This duplex property includes two separate homes on a landscaped 0.63-acre lot. The primary residence is a ranch-style home with three bedrooms, two full bathrooms, a large living room, family or flex space, a primary suite, laundry and storage areas, and an attached oversized drive-through two-car garage. A Trex deck extends the living area toward the backyard.
The second residence is currently used as an Airbnb and includes a full kitchen with granite counters, a living room, a primary bedroom with private bath and jetted tub, mini-split heating and cooling, a covered patio, and shop or two-car garage space. Fenced yards, mature landscaping, two driveways, an RV dump, public water, and public sewer add practical site functionality. The property is near medical facilities, Providence hospital, shopping, restaurants, and everyday amenities.
The second residence is currently used as an Airbnb and includes a full kitchen with granite counters, a living room, a primary bedroom with private bath and jetted tub, mini-split heating and cooling, a covered patio, and shop or two-car garage space. Fenced yards, mature landscaping, two driveways, an RV dump, public water, and public sewer add practical site functionality. The property is near medical facilities, Providence hospital, shopping, restaurants, and everyday amenities.
Key Highlights
- Two residences on a landscaped 0.63‑acre lot
- Main home includes 3 bedrooms, 2 full baths, and an attached oversized drive‑through 2‑car garage
- Second home is currently used as an Airbnb
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,639
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,780
$692.8K
Cap Rate 7%
$494,843
$494.8K
Cap Rate 9%
$384,878
$384.9K
Market Conditions
NOI Build-Up for 3,683 SF
Gross rent
$66.3K $18.00/SF
− Vacancy
−$3.3K −$0.90/SF
EGI
$63.0K $17.10/SF
− OpEx
−$28.3K −$7.69/SF
NOI
$34.6K $9.41/SF
Area
Jackson County, OR
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,780
Cap Rate 7%
$494,843
Cap Rate 9%
$384,878
Alternative Uses
Best Use
Apartment 5plus
$494.8K
$433.0K – $577.3K
NOI $34,639 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$889.0K
$777.9K – $1.04M
NOI $62,228 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
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Business Placement
Demographics for 97504, OR
49,942
Population
21,290
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
93%
High-School Grad
43.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$81,233
Median Household Income
$43,744
Median Earnings
$1,387
Median Rent
$447,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two residences offer separate living areas, fenced yards, and dedicated driveways on a landscaped lot.
Where is this short term rental property located?
The property is located at 1320 Covina Avenue Medford, OR.
What is the asking price?
The asking price for this property is $746,500.
What are key features of this property?
This property features: Two residences on a landscaped 0.63‑acre lot; Main home includes 3 bedrooms, 2 full baths, and an attached oversized drive‑through 2‑car garage; Second home is currently used as an Airbnb
