Two-Unit Duplex with
For Sale
$469,900
1640 19TH St, Florence, OR 97439
MultiFamily, Florence, OR
Property Size1,680 SF
Lot Size0.14 Acres
Price / SF$279.70
Days on Market92
Property Features for 1640 19TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HR
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1
Elementary school
Siuslaw
Middle school
Siuslaw
High school
Siuslaw
Directions
West on 19th St. go through stop sign duplex is the third house on the left.
Subdivision
_228
Standard status
Active
APN
0791887
Size
1,680 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
18-12-26-22-06000
Tax Annual Amount
2734
Legal Description
18-12-26-22-06000
Utilities
Heating system
Ductless (Heating), Heat Pump (Heating)
Cooling system
Wall Unit(s), Heat Pump
Amenities
in-unit washer and dryer
dishwasher
stove
refrigerator
ductless heat pumps
LVP flooring
garages
ample on-site parking
spacious backyard areas
Building Details
Year built
2018
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
TR Hunter Real Estate
(541) 997-1200
Listed By:
Vanessa Buss · License #201260194
(541) 991-0478
Added: Jun 2
Changed: Aug 30
Last Checked: Sep 1 at 3:06PM
MLS# 460153542
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.
Constructed in 2018, this duplex contains two two-bedroom, one-bath residences within 1,680 square feet. Both units feature open living areas, oversized primary bedrooms, LVP flooring, and contemporary finishes. In-unit washers and dryers, dishwashers, stoves, refrigerators, ductless heat pumps, attached garages, and on-site parking support everyday functionality. Each residence also includes a spacious backyard area.
The property occupies 0.14 acres and carries HR zoning. Its composition provides two separate residential layouts, with low-maintenance landscaping and a composition roof contributing to straightforward ongoing care. The building is described as clean and well maintained, with heating and cooling provided by heat pump systems and wall units.
The property occupies 0.14 acres and carries HR zoning. Its composition provides two separate residential layouts, with low-maintenance landscaping and a composition roof contributing to straightforward ongoing care. The building is described as clean and well maintained, with heating and cooling provided by heat pump systems and wall units.
Key Highlights
- Two‑bedroom, one‑bath residences in each of the two units
- 1,680 square feet on a 0.14‑acre lot
- Built in 2018
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
$16,493
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
3.51%
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%
$329,860
$329.9K
Cap Rate 7%
$235,614
$235.6K
Cap Rate 9%
$183,256
$183.3K
Market Conditions
NOI Build-Up for 1,680 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
$25.2K $15.00/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$23.6K $14.03/SF
− OpEx
−$7.1K −$4.21/SF
NOI
$16.5K $9.82/SF
Area
Lane County, OR
Vacancy
6.50%
Lease Rate
$15.00 /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%
$329,860
Cap Rate 7%
$235,614
Cap Rate 9%
$183,256
Alternative Uses
Best Use
Multifamily LT 5
$235.6K
$206.2K – $274.9K
NOI $16,493 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$219.3K
$191.9K – $255.9K
NOI $15,354 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$425.0K
$371.9K – $495.9K
NOI $29,751 @ 7.0% cap · market cap 6.33%
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
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
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 - Contemporary duplex with two residences, private outdoor areas, in-unit laundry, and ductless heat pumps.
Where is this duplex located?
The property is located at 1640 19TH St Florence, OR.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residences in each of the two units; 1,680 square feet on a 0.14‑acre lot; Built in 2018
