Two-Unit Duplex with
For Sale
$449,000
16406 Heath Drive, La Pine, OR 97739
Residential Income, La Pine, OR
Property Size2,950 SF
Lot Size0.27 Acres
Price / SF$152.20
Days on Market94
Property Features for 16406 Heath Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RSF
Parking features
Driveway, Open
Security features
Security System
Window features
Vinyl Frames, Double Pane Windows
Patio and Porch features
Porch
Interior features
Laminate Counters, Pantry, Shower/Tub Combo, Vaulted Ceiling(s)
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Huntington Meadows
Lot features
Corner Lot, Landscaped
Elementary school
Check with District
Middle school
Check with District
High school
Check with District
Directions
Hwy 97 to Finley Butte, left on Huntington Rd, Left on Heath Duplex is First one on Left.
Standard status
Active
APN
241263
Size
2,950 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3938
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Electric (Heating)
Water source
Public
Amenities
fenced backyard
Building Details
Year built
2004
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
La Pine Realty
(541) 536-1711
Listed By:
Tisha Anderson · License #200602394
(541) 420-1361
Added: May 25
Changed: Aug 21
Last Checked: Aug 26 at 12:06PM
MLS# 220222089
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.
Built in 2004, this duplex contains 2,950 square feet across two separate residences on a 0.27-acre corner lot. Each unit includes three bedrooms and 2.5 bathrooms, with an open living area, kitchen, pantry, and laundry room with a main-floor half bath. Upstairs, each residence has a primary suite with a private bathroom and two additional bedrooms served by another full bathroom.
Both sides include an attached single-car garage, driveway parking, a fenced backyard, and a porch. Interior features include vaulted ceilings, laminate counters, carpet and vinyl flooring, and electric heating. Kitchens are equipped with dishwashers, microwaves, ranges, and refrigerators. The property uses public water and is positioned behind grocery stores in La Pine.
Both sides include an attached single-car garage, driveway parking, a fenced backyard, and a porch. Interior features include vaulted ceilings, laminate counters, carpet and vinyl flooring, and electric heating. Kitchens are equipped with dishwashers, microwaves, ranges, and refrigerators. The property uses public water and is positioned behind grocery stores in La Pine.
Key Highlights
- 2,950‑square‑foot duplex on a 0.27‑acre corner lot
- Built in 2004
- Each unit has 3 bedrooms and 2.5 bathrooms
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
$37,780
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
8.41%
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%
$755,600
$755.6K
Cap Rate 7%
$539,714
$539.7K
Cap Rate 9%
$419,778
$419.8K
Market Conditions
NOI Build-Up for 2,950 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
$74.3K $25.20/SF
− Vacancy
−$5.6K −$1.92/SF
EGI
$68.7K $23.28/SF
− OpEx
−$30.9K −$10.48/SF
NOI
$37.8K $12.81/SF
Area
Deschutes County, OR
Vacancy
7.60%
Lease Rate
$25.20 /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%
$755,600
Cap Rate 7%
$539,714
Cap Rate 9%
$419,778
Alternative Uses
Best Use
Multifamily LT 5
$591.2K
$517.3K – $689.7K
NOI $41,384 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$539.7K
$472.3K – $629.7K
NOI $37,780 @ 7.0% cap · market cap 8.41%
Theoretical Best
Retail
$1.02M
$888.4K – $1.18M
NOI $71,069 @ 7.0% cap · market cap 15.83%
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
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 97739, OR
13,102
Population
6,929
Households
1.9
Avg Household Size
53
Median Age
17%
College-Educated
87%
High-School Grad
305.0 sq mi
ZIP Area
43
Density / Sq Mi
$56,256
Median Household Income
$35,775
Median Earnings
$1,144
Median Rent
$327,500
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 residences offer flexible layouts, private outdoor space, and convenient access to nearby grocery stores.
Where is this duplex located?
The property is located at 16406 Heath Drive La Pine, OR.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,950‑square‑foot duplex on a 0.27‑acre corner lot; Built in 2004; Each unit has 3 bedrooms and 2.5 bathrooms
