Two-Unit Duplex with Separate
For Sale
$249,000
146 1ST St, Myrtle Point, OR 97458
MultiFamily, MyrtlePoint, OR
Property Size2,068 SF
Lot Size0.14 Acres
Price / SF$120.41
Days on Market97
Property Features for 146 1ST St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2
View
Territorial, City
Elementary school
Myrtle Crest
Middle school
Myrtle Point
High school
Myrtle Point
Directions
Corner of Lampa Ln & 1st St
Subdivision
_260
Standard status
Active
APN
1119800
Size
2,068 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
29S-12W-08DD TL 02000
Tax Annual Amount
2714
Legal Description
29S-12W-08DD TL 02000
Utilities
Heating system
Forced Air, Wood Stove, Wood, Pellet Stove
Amenities
wood stove insert
pellet stove
laundry hookups
RV/boat parking
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Roof type
Membrane, Composition
Listing Agency:
RE/MAX South Coast · RE/MAX International
(541) 297-7507
Listed By:
Julie Stephens · License #201223170
(503) 807-8910
Added: Jun 13
Changed: Sep 15
Last Checked: Sep 17 at 4:06PM
MLS# 764274272
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 2,068-square-foot, two-story duplex-style property contains two separately accessed living spaces. The main-level residence offers 1,073 square feet with two bedrooms, one bathroom, a remodeled bathroom, stainless steel kitchen appliances, a wood stove insert, high ceilings, and a step-up walk-in closet. The 995-square-foot lower residence includes two bedrooms, one bathroom, two bonus or flex rooms, a kitchen with an eat-at counter, and a pellet stove in the common area. Each level has its own kitchen, laundry hookups, private entrance, and electrical panel, while a forced-air furnace serves both spaces.
The 0.14-acre property is located in MyrtlePoint, less than half a mile from Coquille River beach access and a boat ramp. The grounds include established landscaping and a black walnut tree recognized on the Myrtle Point Tree Trail. RV and boat parking space is available. Built in 1900 and zoned R-1, the property’s duplex use should be verified with the City of Myrtle Point.
The 0.14-acre property is located in MyrtlePoint, less than half a mile from Coquille River beach access and a boat ramp. The grounds include established landscaping and a black walnut tree recognized on the Myrtle Point Tree Trail. RV and boat parking space is available. Built in 1900 and zoned R-1, the property’s duplex use should be verified with the City of Myrtle Point.
Key Highlights
- 2,068 square feet across two living spaces
- Main level: 1,073 square feet with 2 bedrooms and 1 bath
- Lower level: 995 square feet with 2 bedrooms, 1 bath, and 2 bonus rooms
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
$18,678
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
7.50%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R-1 property with two kitchens, laundry hookups, and independently accessed living spaces.
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: 2,068 square feet across two living spaces; Main level: 1,073 square feet with 2 bedrooms and 1 bath; Lower level: 995 square feet with 2 bedrooms, 1 bath, and 2 bonus rooms
