Lake Community
For Sale
$620,000
1880 Lake Cove Avenue, Eugene, OR 97408
The two residences include private patios, attached garages, and laundry areas.
Property Size2,256 SF
Price / SF$274.82
Days on Market398
Property Features for 1880 Lake Cove Avenue
General Information
Standard status
Active
Size
2,256 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
R_2 PD
Taxes and HOA fees
Annual Taxes
$7,557
Amenities
DSL
1
Crawl Space
Tile
Brick, Lap Siding, Wood Siding
Building Details
Year Built
1998
Listing Agency:
John L. Scott NE Portland
(503) 230-8600
Listed By:
Kristin Clark · License #200610184
(503) 230-8600
Source:
Compass
Added: Aug 1, 2025
Changed: Aug 31
Last Checked: Aug 31 at 9:36PM
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 John L. Scott NE Portland
Investment Insights
Based on property information with market context.
This 2,256-square-foot duplex, completed in 1998, contains two residences with matching layouts of 2 bedrooms and 1 bathroom each. Both units feature private patios, attached single-car garages, and laundry areas. Interior details include crawl-space construction, while exterior materials include brick, lap siding, wood siding, and tile. One residence has a tub-and-shower combination; the other includes a walk-in shower.
The property is within the gated Lake Shore Estates community at 1880 Lake Cove Avenue in Eugene, Oregon. Community amenities include a shared common area, boat dock, and lakeside walking path. The property is zoned R_2 PD.
The property is within the gated Lake Shore Estates community at 1880 Lake Cove Avenue in Eugene, Oregon. Community amenities include a shared common area, boat dock, and lakeside walking path. The property is zoned R_2 PD.
Key Highlights
- 2,256‑square‑foot duplex built in 1998
- Each residence offers 2 bedrooms and 1 bathroom
- Private patios and attached single‑car garages for both units
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
$20,233
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
3.26%
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%
$404,660
$404.7K
Cap Rate 7%
$289,043
$289.0K
Cap Rate 9%
$224,811
$224.8K
Market Conditions
NOI Build-Up for 2,256 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
$29.2K $12.96/SF
− Vacancy
−$333 −$0.15/SF
EGI
$28.9K $12.81/SF
− OpEx
−$8.7K −$3.84/SF
NOI
$20.2K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$404,660
Cap Rate 7%
$289,043
Cap Rate 9%
$224,811
Alternative Uses
Best Use
Multifamily LT 5
$289.0K
$252.9K – $337.2K
NOI $20,233 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$252.2K
$220.7K – $294.2K
NOI $17,653 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$680.7K
$595.6K – $794.1K
NOI $47,647 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 97408, OR
14,655
Population
6,585
Households
2.2
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
49.8 sq mi
ZIP Area
294
Density / Sq Mi
$102,063
Median Household Income
$47,280
Median Earnings
$1,731
Median Rent
$535,300
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 - The two residences include private patios, attached garages, and laundry areas.
Where is this duplex located?
The property is located at 1880 Lake Cove Avenue Eugene, OR.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 2,256‑square‑foot duplex built in 1998; Each residence offers 2 bedrooms and 1 bathroom; Private patios and attached single‑car garages for both units
