Triplex with Three Separate
New
For Sale
$1,100,000
164 5th Street, Ashland, OR 97520
Residential Income, Ashland, OR
Property Size3,691 SF
Lot Size0.23 Acres
Price / SF$298.02
Days on Market2
Property Features for 164 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-2
Parking features
Driveway, On Street
Window features
Skylight(s), Vinyl Frames
Patio and Porch features
Deck, Porch, Patio
Interior features
Built-in Features, Ceiling Fan(s), Linen Closet, Pantry, Shower/Tub Combo, Tile Counters, Vaulted Ceiling(s)
Appliances
Dishwasher, Dryer, Range, Refrigerator, Washer, Water Heater
Lot features
Corner Lot, Drip System, Fenced, Garden, Landscaped, Level, Sprinkler Timer(s)
View
Territorial
Elementary school
Walker Elem
Middle school
Ashland Middle
High school
Ashland High
Directions
SE corner of B & 5th Street.
Standard status
Active
APN
10062359
Size
3,691 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5882
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Forced Air
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Amenities
greenhouse
outdoor storage bins
Building Details
Year built
1890
Floors in Building
2
Number of units
3
Flooring type
Tile, Laminate, Carpet, Vinyl
Building materials
Frame
Roof type
Composition
Additional Structures
Greenhouse
Listing Agency:
Ashland Homes Real Estate Inc.
(541) 482-0044
Listed By:
Justin B Donovan · License #200108121
(541) 890-6673
Added: Sep 24
Last Checked: Sep 25 at 7:06PM
MLS# 220229129
Copyright © 2026 Oregon Data Share. 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.
The 3,691-square-foot property occupies a 0.23-acre lot and contains three separate residences. The main house dates to 1890 and provides approximately 2,071 SF, with 3+ bedrooms and 2 baths. Improvements in ’94 included a new foundation, electrical, plumbing, and HVAC ducting. A one-bedroom, one-bath apartment sits above a workshop, with vaulted ceilings, a private deck, and additional space below. The separate cottage, built circa 1945, has two bedrooms, one bath, and private outdoor space.
Each residence has its own electric and gas meter. The main house and cottage also have separate water and sewer service. Additional site features include gardens, a greenhouse, outdoor storage bins, and deck, patio, and porch areas.
Each residence has its own electric and gas meter. The main house and cottage also have separate water and sewer service. Additional site features include gardens, a greenhouse, outdoor storage bins, and deck, patio, and porch areas.
Key Highlights
- Three separate residences on a 0.23‑acre lot, totaling 3,691 square feet
- Main house: approximately 2,071 SF, 3+ bedrooms, 2 baths; built in 1890
- Apartment above workshop has 1 bedroom, 1 bath, vaulted ceilings, and a private deck
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
$39,554
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
3.60%
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%
$791,080
$791.1K
Cap Rate 7%
$565,057
$565.1K
Cap Rate 9%
$439,489
$439.5K
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
$59.8K $16.20/SF
− Vacancy
−$3.3K −$0.89/SF
EGI
$56.5K $15.31/SF
− OpEx
−$17.0K −$4.59/SF
NOI
$39.6K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /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%
$791,080
Cap Rate 7%
$565,057
Cap Rate 9%
$439,489
Alternative Uses
Best Use
Multifamily LT 5
$565.1K
$494.4K – $659.2K
NOI $39,554 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$495.9K
$433.9K – $578.6K
NOI $34,714 @ 7.0% cap · market cap 3.16%
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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Open Analytics
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct living spaces include a main house, an apartment above a workshop, and a separate cottage.
Where is this triplex located?
The property is located at 164 5th Street 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 a 0.23‑acre lot, totaling 3,691 square feet; Main house: approximately 2,071 SF, 3+ bedrooms, 2 baths; built in 1890; Apartment above workshop has 1 bedroom, 1 bath, vaulted ceilings, and a private deck
