8-Unit Apartment
For Sale
$1,650,000
176 Reager Street, Medford, OR 97501
Single-level unit mix includes duplex, triplex, and manufactured-home components.
Property Size5,966 SF
Lot Size1.06 Acres
Price / SF$276.57
Days on Market313
Property Features for 176 Reager Street
General Information
Standard status
Active
Size
5,966 SF
Total Parking Spaces
10
Lot size
1.06 Acres
Property subtype
Multi Family
Zoning
SFR-00
Additional Details
Cap Rate
6.6%
Road Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$8,163
Amenities
1
Concrete Perimeter
Composition, Membrane, Shingle
Metal Siding, Wood Siding
Building Details
Year Built
1940
Buildings
4
Listing Agency:
Patie Millen Group
Listed By:
Patricia Millen · License #940200113
(541) 301-3435
Source:
Compass
Added: Oct 25, 2025
Changed: Aug 31
Last Checked: Aug 30 at 12:10PM
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 Patie Millen Group
Investment Insights
Based on property information with market context.
This 5,966-square-foot apartment property contains 8 single-level units across one triplex, two duplexes, and a single-wide manufactured home. Built in 1940, the property has received multiple upgrades, including new exterior paint on all multiplex buildings within the past 30 days. Interior flooring consists of hardwood, laminate, or vinyl rather than carpeting.
Set on 1.06 acres at the end of Reager Street in Medford, the property offers a private setting within the city. The current configuration combines multiple residential structures with a manufactured-home component, providing a varied unit layout across the site. The reported cap rate is 6.6%.
Set on 1.06 acres at the end of Reager Street in Medford, the property offers a private setting within the city. The current configuration combines multiple residential structures with a manufactured-home component, providing a varied unit layout across the site. The reported cap rate is 6.6%.
Key Highlights
- 8 units across one triplex, two duplexes, and a single‑wide manufactured home
- 5,966 SF apartment property on 1.06 acres
- New exterior paint on all multiplex units within the past 30 days
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
$56,110
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
3.40%
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%
$1,122,200
$1.1M
Cap Rate 7%
$801,571
$801.6K
Cap Rate 9%
$623,444
$623.4K
Market Conditions
NOI Build-Up for 5,966 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
$107.4K $18.00/SF
− Vacancy
−$5.4K −$0.90/SF
EGI
$102.0K $17.10/SF
− OpEx
−$45.9K −$7.69/SF
NOI
$56.1K $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%
$1,122,200
Cap Rate 7%
$801,571
Cap Rate 9%
$623,444
Alternative Uses
Best Use
Apartment 5plus
$801.6K
$701.4K – $935.2K
NOI $56,110 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,802 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
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?
Apartment building - Single-level unit mix includes duplex, triplex, and manufactured-home components.
Where is this apartment building located?
The property is located at 176 Reager Street Medford, OR.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 8 units across one triplex, two duplexes, and a single‑wide manufactured home; 5,966 SF apartment property on 1.06 acres; New exterior paint on all multiplex units within the past 30 days
