Two-Unit Duplex with Separate
For Sale
$249,000
146 1st St, Myrtle Point, OR 97458
Two separate living spaces provide individual kitchens, laundry hookups, electrical panels, and private entrances.
Property Size2,068 SF
Price / SF$120.41
Days on Market80
Property Features for 146 1st St
General Information
Standard status
Active
Size
2,068 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
RE/MAX South Coast
Listed By:
Julie Stephens · License #201223170
(541) 297-7507
Source:
Wisser
Added: Jul 27
Changed: Oct 8
Last Checked: Oct 5 at 11:08PM
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 RE/MAX South Coast
Investment Insights
Based on property information with market context.
This two-unit residential property contains a 1,073-square-foot main-level residence and a 995-square-foot lower-level unit, for approximately 2,068 square feet overall. Both layouts include two bedrooms and one bathroom, along with separate kitchens, laundry hookups, private entrances, and individual electrical panels. A forced-air furnace serves both units.
The main residence features high ceilings, a large living room with a wood stove insert, stainless steel kitchen appliances, a remodeled bathroom, included washer and dryer, and a step-up walk-in closet in the primary bedroom. The lower unit adds two bonus rooms or flexible-use areas, an eat-at kitchen counter, stainless steel oven/range, built-in microwave, and a stand-alone pellet stove in the common area.
The exterior includes established flowers, shrubs, and a black walnut tree recognized on the Myrtle Point Tree Trail. The property was built in 1900. Buyers are encouraged to confirm duplex use with the City of Myrtle Point.
The main residence features high ceilings, a large living room with a wood stove insert, stainless steel kitchen appliances, a remodeled bathroom, included washer and dryer, and a step-up walk-in closet in the primary bedroom. The lower unit adds two bonus rooms or flexible-use areas, an eat-at kitchen counter, stainless steel oven/range, built-in microwave, and a stand-alone pellet stove in the common area.
The exterior includes established flowers, shrubs, and a black walnut tree recognized on the Myrtle Point Tree Trail. The property was built in 1900. Buyers are encouraged to confirm duplex use with the City of Myrtle Point.
Key Highlights
- Approximately 2,068 SF across two units: 1,073 SF main level and 995 SF lower level
- Each unit offers 2 bedrooms, 1 bathroom, a kitchen, laundry hookups, private entrance, and electrical panel
- Lower unit includes 2 bonus rooms or flex‑space areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,678
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,560
$373.6K
Cap Rate 7%
$266,829
$266.8K
Cap Rate 9%
$207,533
$207.5K
Market Conditions
NOI Build-Up for 2,068 SF
Gross rent
$28.5K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$26.7K $12.90/SF
− OpEx
−$8.0K −$3.87/SF
NOI
$18.7K $9.03/SF
Area
Coos County, OR
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,560
Cap Rate 7%
$266,829
Cap Rate 9%
$207,533
Alternative Uses
Best Use
Multifamily LT 5
$266.8K
$233.5K – $311.3K
NOI $18,678 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$247.4K
$216.5K – $288.7K
NOI $17,320 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$374.4K
$327.6K – $436.8K
NOI $26,206 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
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Business Placement
Demographics for 97458, OR
4,729
Population
2,376
Households
2
Avg Household Size
50
Median Age
13%
College-Educated
90%
High-School Grad
360.9 sq mi
ZIP Area
13
Density / Sq Mi
$51,703
Median Household Income
$41,406
Median Earnings
$800
Median Rent
$251,400
Median Home Value
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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 separate living spaces provide individual kitchens, laundry hookups, electrical panels, and private entrances.
Where is this duplex located?
The property is located at 146 1st St Myrtle Point, OR.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Approximately 2,068 SF across two units: 1,073 SF main level and 995 SF lower level; Each unit offers 2 bedrooms, 1 bathroom, a kitchen, laundry hookups, private entrance, and electrical panel; Lower unit includes 2 bonus rooms or flex‑space areas
