Duplex with Separate Private
For Sale
$269,000
146 1ST St, Myrtle Point, OR 97458
MULTI_FAMILY - MyrtlePoint, OR
Property Size2,068 SF
Lot Size0.14 Acres
Price / SF$130.08
Days on Market60
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 1, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 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
Wood, Forced Air, Wood Stove, Pellet Stove
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Roof type
Composition, Membrane
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: Aug 8
Last Checked: Aug 11 at 9:06PM
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 duplex at 146 1st St, Myrtle Point is a classic, two-story home divided into two separate living spaces. Each unit includes its own kitchen, laundry hookups, private entrance, and electrical panel. The main-level unit is a 1073 square foot, 2 bedroom / 1 bath layout, with high ceilings, a generous living room, and a wood stove insert for supplemental heating. The main kitchen includes stainless steel appliances, and the bathroom is fully remodeled. Washer/dryer included for the main-floor unit.
The lower level provides a 995 square foot, 2 bedroom / 1 bath configuration with multiple bonus/flex spaces and an eat-at counter in the kitchen. It also includes stainless steel cooking appliances and built-in microwave, plus a standalone pellet stove in the common area for supplemental heat.
The home sits on a 0.14-acre lot, was built in 1900, and is zoned R-1. Heating sources listed include forced air for both units, along with wood stove and pellet stove options. Roof materials include composition and membrane. Square footage figures were approximated using CubiCasa, and buyers are encouraged to verify duplex use with the city of Myrtle Point.
The lower level provides a 995 square foot, 2 bedroom / 1 bath configuration with multiple bonus/flex spaces and an eat-at counter in the kitchen. It also includes stainless steel cooking appliances and built-in microwave, plus a standalone pellet stove in the common area for supplemental heat.
The home sits on a 0.14-acre lot, was built in 1900, and is zoned R-1. Heating sources listed include forced air for both units, along with wood stove and pellet stove options. Roof materials include composition and membrane. Square footage figures were approximated using CubiCasa, and buyers are encouraged to verify duplex use with the city of Myrtle Point.
Key Highlights
- R‑1 duplex with two separate living spaces and private entrances
- Main unit: 1073 SF, 2 bed / 1 bath with wood stove insert and remodeled bathroom
- Lower unit: 995 SF, 2 bed / 1 bath with multiple bonus/flex 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
6.94%
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 6.94%
Second Best
Apartment 5plus
$247.4K
$216.5K – $288.7K
NOI $17,320 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$374.4K
$327.6K – $436.8K
NOI $26,206 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Two R-1 units each feature a private entrance, kitchen, and laundry hookups with forced air heat and supplemental wood/pellet options.
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 $269,000.
What are key features of this property?
This property features: R‑1 duplex with two separate living spaces and private entrances; Main unit: 1073 SF, 2 bed / 1 bath with wood stove insert and remodeled bathroom; Lower unit: 995 SF, 2 bed / 1 bath with multiple bonus/flex rooms
