3-Unit Multifamily
New
For Sale
$1,100,000
164 5th St, Ashland, OR 97520
Three separately metered residences comprise a main house, an apartment, and a detached cottage.
Property Size3,691 SF
Price / SF$298.02
Days on Market2
Property Features for 164 5th St
General Information
Standard status
Active
Size
3,691 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3+BR/2BA, 1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
greenhouse
outdoor storage bins
private deck
Building Details
Year Built
1890
Buildings
3
Listing Agency:
Windermere Van Vleet & Assoc
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Sep 26
Last Checked: Sep 26 at 2:36PM
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 Windermere Van Vleet & Assoc
Investment Insights
Based on property information with market context.
This 3,691-square-foot multifamily property includes three distinct residences. The main home, built in 1890, offers 3+ bedrooms, 2 baths, and approximately 2,071 square feet; work completed in 1994 included a new foundation, electrical and plumbing systems, and HVAC ducting. A one-bedroom, one-bath apartment sits above a workshop and features vaulted ceilings, a private deck, and additional space below. The separate cottage, dating to circa 1945, has two bedrooms, one bath, and its own outdoor area.
At 164 5th St in Ashland’s Railroad District, the property also has a greenhouse and outdoor storage bins. Each residence has separate electric and gas meters, while the main house and cottage have individual water and sewer service.
At 164 5th St in Ashland’s Railroad District, the property also has a greenhouse and outdoor storage bins. Each residence has separate electric and gas meters, while the main house and cottage have individual water and sewer service.
Key Highlights
- Three separate residences on one property
- 3,691 square feet overall; main home has approximately 2,071 square feet
- Main house: 3+ bedrooms and 2 baths; cottage: 2 bedrooms and 1 bath
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
$34,714
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
3.16%
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%
$694,280
$694.3K
Cap Rate 7%
$495,914
$495.9K
Cap Rate 9%
$385,711
$385.7K
Market Conditions
NOI Build-Up for 3,691 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
$66.4K $18.00/SF
− Vacancy
−$3.3K −$0.90/SF
EGI
$63.1K $17.10/SF
− OpEx
−$28.4K −$7.69/SF
NOI
$34.7K $9.41/SF
Area
Jackson County, OR
Vacancy
5.00%
Lease Rate
$18.00 /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%
$694,280
Cap Rate 7%
$495,914
Cap Rate 9%
$385,711
Alternative Uses
Best Use
Apartment 5plus
$495.9K
$433.9K – $578.6K
NOI $34,714 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$890.9K
$779.5K – $1.04M
NOI $62,363 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,762
Businesses Nearby
Explore this area
Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
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?
Multifamily property - Three separately metered residences comprise a main house, an apartment, and a detached cottage.
Where is this multifamily property located?
The property is located at 164 5th St Ashland, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three separate residences on one property; 3,691 square feet overall; main home has approximately 2,071 square feet; Main house: 3+ bedrooms and 2 baths; cottage: 2 bedrooms and 1 bath
