Triplex with Single-Car
For Sale
$550,000
2634 South 7th Street, Lebanon, OR 97355
Three-unit residential property with individual parking and access to major roads.
Property Size3,096 SF
Price / SF$177.65
Days on Market667
Property Features for 2634 South 7th Street
General Information
Standard status
Active
Size
3,096 SF
Total Parking Spaces
3
Property subtype
Multi Family
Zoning
RL
Units
Multifamily Units
3
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,218
Amenities
2
Composition
Lap Siding
Building Details
Year Built
1978
Listing Agency:
Keller Williams Realty Mid Willamette
(541) 409-2106
Listed By:
Sherri Gregory · License #970300073
(541) 409-2106
Source:
Compass
Added: Nov 3, 2024
Changed: Aug 30
Last Checked: Aug 30 at 5:14PM
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 Keller Williams Realty Mid Willamette
Investment Insights
Based on property information with market context.
This 3,096-square-foot triplex contains three residential units, with each unit paired with its own parking space and single-car garage. The property was built in 1978 and features composition exterior materials with lap siding. RL zoning supports its residential classification.
Located at 2634 South 7th Street in Lebanon, Oregon, the property offers access to major roads and public transportation. Its three-unit configuration and individual garage arrangements provide a straightforward format for residential income use.
Located at 2634 South 7th Street in Lebanon, Oregon, the property offers access to major roads and public transportation. Its three-unit configuration and individual garage arrangements provide a straightforward format for residential income use.
Key Highlights
- Three‑unit triplex configuration
- 3,096 square feet of property size
- Each unit includes a parking space and single‑car garage
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
$29,225
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
5.31%
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%
$584,500
$584.5K
Cap Rate 7%
$417,500
$417.5K
Cap Rate 9%
$324,722
$324.7K
Market Conditions
NOI Build-Up for 3,096 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
$42.7K $13.80/SF
− Vacancy
−$974 −$0.31/SF
EGI
$41.8K $13.49/SF
− OpEx
−$12.5K −$4.05/SF
NOI
$29.2K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
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%
$584,500
Cap Rate 7%
$417,500
Cap Rate 9%
$324,722
Alternative Uses
Best Use
Multifamily LT 5
$417.5K
$365.3K – $487.1K
NOI $29,225 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$384.6K
$336.5K – $448.7K
NOI $26,923 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$901.9K
$789.2K – $1.05M
NOI $63,135 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
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?
Triplex - Three-unit residential property with individual parking and access to major roads.
Where is this triplex located?
The property is located at 2634 South 7th Street Lebanon, 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: Three‑unit triplex configuration; 3,096 square feet of property size; Each unit includes a parking space and single‑car garage
