Lake Community
For Sale
$559,000
1880 LAKE COVE AVE, Eugene, OR 97408
The two residences include private patios, attached garages, and laundry areas.
Property Size2,256 SF
Price / SF$247.78
Days on Market220
Property Features for 1880 LAKE COVE AVE
General Information
Standard status
Active
Size
2,256 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R_2 PD
Net Operating Income
$24,330
Taxes and HOA fees
Annual Taxes
$7,557
Amenities
CrawlSpace
Gas
UnitTypeType1,UnitTypeType2
2
AirConditioning,Dishwasher,Range,Refrigerator
1
1695
1650
Commons,CornerLot,Gated,Level
PublicWater
2.0
0.12
Garage
Paved
2256.0
Brick,LapSiding,WoodSiding
Building Details
Building Size
2,256 SF
Year Built
1998
Stories
1
Listing Agency:
Keller Williams Western Realty
(541) 248-5477
Listed By:
Katelyn Swarringim · License #201239300
(541) 852-1887
Source:
Premierepropertygroup
Added: Mar 13
Changed: Oct 11
Last Checked: Oct 16 at 6:17AM
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 Keller Williams Western Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$20,233
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
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
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 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 3.62%
Second Best
Apartment 5plus
$252.2K
$220.7K – $294.2K
NOI $17,653 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$680.7K
$595.6K – $794.1K
NOI $47,647 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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 AVE Eugene, OR.
What is the asking price?
The asking price for this property is $559,000.
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
