New-Construction Duplex with
For Sale
$572,000
1951 17th, North Bend, OR 97459
Two modern residential units feature durable finishes, flexible secondary rooms, and an attached garage.
Property Size2,000 SF
Price / SF$286
Days on Market45
Property Features for 1951 17th
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$58,800
Building Details
Year Built
2025
Buildings
2
Tenancy
Multi
Listing Agency:
Coastal Sotheby's International Realty
(541) 269-0355
Listed By:
Juli Whelchel, Vicki Whelchel · License #930300066
Source:
Wyndeekono
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 25 at 5:52AM
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 Coastal Sotheby's International Realty
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex contains two approximately 1,000-square-foot residences designed for practical long-term ownership. The lower unit has one bedroom and two full bathrooms, while the upper unit includes one bedroom and one-and-a-half bathrooms. Both layouts offer an additional room suitable for office or flexible use. Interior details include luxury vinyl plank flooring, slate in selected areas, tile showers, soft-close cabinets, kitchen appliances, and 10.5-foot ceilings. Fiber cement siding, vinyl windows, and a composition roof complete the construction package.
A detached 1,080-square-foot shop, built in 2019, adds a loft and heated office area for storage, business activities, hobbies, or potential rental use. The property is located near a hospital and major medical centers at 1951 17th in North Bend, Oregon. Twenty-four-month leases have been secured for both units, with tenants in place.
A detached 1,080-square-foot shop, built in 2019, adds a loft and heated office area for storage, business activities, hobbies, or potential rental use. The property is located near a hospital and major medical centers at 1951 17th in North Bend, Oregon. Twenty-four-month leases have been secured for both units, with tenants in place.
Key Highlights
- Duplex completed in 2025 with two residential units
- Each unit is approx 1,000 sqft and includes a secondary room
- Lower unit: 1 bedroom, 2 full bathrooms, and a single attached garage
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
$18,064
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
3.16%
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%
$361,280
$361.3K
Cap Rate 7%
$258,057
$258.1K
Cap Rate 9%
$200,711
$200.7K
Market Conditions
NOI Build-Up for 2,000 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
$27.6K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$25.8K $12.90/SF
− OpEx
−$7.7K −$3.87/SF
NOI
$18.1K $9.03/SF
Area
Coos County, OR
Vacancy
6.50%
Lease Rate
$13.80 /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%
$361,280
Cap Rate 7%
$258,057
Cap Rate 9%
$200,711
Alternative Uses
Best Use
Multifamily LT 5
$258.1K
$225.8K – $301.1K
NOI $18,064 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$239.3K
$209.4K – $279.2K
NOI $16,751 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$362.1K
$316.8K – $422.4K
NOI $25,344 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 97459, OR
14,932
Population
6,856
Households
2.2
Avg Household Size
46
Median Age
29%
College-Educated
93%
High-School Grad
109.3 sq mi
ZIP Area
137
Density / Sq Mi
$79,679
Median Household Income
$39,665
Median Earnings
$1,066
Median Rent
$349,700
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 modern residential units feature durable finishes, flexible secondary rooms, and an attached garage.
Where is this duplex located?
The property is located at 1951 17th North Bend, OR.
What is the asking price?
The asking price for this property is $572,000.
What are key features of this property?
This property features: Duplex completed in 2025 with two residential units; Each unit is approx 1,000 sqft and includes a secondary room; Lower unit: 1 bedroom, 2 full bathrooms, and a single attached garage
