Updated Duplex Near
New
For Sale
$349,000
144 S PARK St, Carlton, OR 97111
MultiFamily, Carlton, OR
Property Size1,200 SF
Lot Size0.17 Acres
Price / SF$290.83
Days on Market4
Property Features for 144 S PARK St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
DD-MS
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Elementary school
Yamhill-Carlton
Middle school
Yamhill-Carlton
High school
Yamhill-Carlton
Directions
From Main St, South on Park St
Subdivision
_156
Standard status
Active
APN
94454
Size
1,200 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
N 74' LT 5 BL 7 IN CARLTON ORIGINAL TOWNSITE OF
Tax Annual Amount
2073
Legal Description
N 74' LT 5 BL 7 IN CARLTON ORIGINAL TOWNSITE OF
Amenities
backyard
Building Details
Year built
1946
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
The Kelly Group Real Estate
(503) 538-4531
Listed By:
Kelly Hagglund · License #201219819
(503) 730-9999
Added: Sep 14
Last Checked: Sep 17 at 11:06AM
MLS# 514392454
Copyright © 2026 Regional Multiple Listing Services. 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 duplex contains two residential units, each arranged with 2 bedrooms, 1 bathroom, and approximately 600 square feet. The property totals 1,200 square feet on a 0.17-acre lot and was built in 1946. Interior layouts include a pass-through window between each kitchen and living room, while the shared backyard offers outdoor space with room for gardening.
Major exterior work includes a new roof and windows completed in 2025, along with fresh exterior paint and new gutters completed in August 2026. The property is zoned DD-MS and sits on S Park Street near downtown Carlton. Ladd Park, the community swimming pool, restaurants, tasting rooms, shops, and seasonal events are located nearby.
Major exterior work includes a new roof and windows completed in 2025, along with fresh exterior paint and new gutters completed in August 2026. The property is zoned DD-MS and sits on S Park Street near downtown Carlton. Ladd Park, the community swimming pool, restaurants, tasting rooms, shops, and seasonal events are located nearby.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Approximately 600 square feet per unit; 1,200 square feet total
- New roof and windows completed in 2025
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
$15,408
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
4.41%
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%
$308,160
$308.2K
Cap Rate 7%
$220,114
$220.1K
Cap Rate 9%
$171,200
$171.2K
Market Conditions
NOI Build-Up for 1,200 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
$29.5K $24.60/SF
− Vacancy
−$1.5K −$1.25/SF
EGI
$28.0K $23.35/SF
− OpEx
−$12.6K −$10.51/SF
NOI
$15.4K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /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%
$308,160
Cap Rate 7%
$220,114
Cap Rate 9%
$171,200
Alternative Uses
Best Use
Apartment 5plus
$220.1K
$192.6K – $256.8K
NOI $15,408 @ 7.0% cap · market cap 4.41%
Second Best
Multifamily LT 5
$188.9K
$165.3K – $220.3K
NOI $13,220 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$323.9K
$283.4K – $377.9K
NOI $22,674 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 97111, OR
3,435
Population
1,609
Households
2.1
Avg Household Size
41
Median Age
23%
College-Educated
91%
High-School Grad
38.0 sq mi
ZIP Area
90
Density / Sq Mi
$95,121
Median Household Income
$55,890
Median Earnings
$1,744
Median Rent
$472,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide practical layouts, private outdoor space, and convenient access to downtown Carlton amenities.
Where is this duplex located?
The property is located at 144 S PARK St Carlton, OR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Approximately 600 square feet per unit; 1,200 square feet total; New roof and windows completed in 2025
