Managed Victorian Short-Term
For Sale
$849,000
206 NE 10th St, McMinnville, OR 97128
Restored lodging property with a separate remodeled guest unit and multiple kitchens for flexible group accommodations.
Property Size3,984 SF
Price / SF$213.10
Days on Market57
Property Features for 206 NE 10th St
General Information
Standard status
Active
Size
3,984 SF
Zoning
C-3
Additional Details
Multifamily Units
2
Amenities
laundry
solar panels
Building Details
Year Built
1894
Buildings
2
Construction
Victorian
Listing Agency:
Good Land Company
Listed By:
Dahe Good · License #201209298
(971) 219-1344
Source:
Monarealestates
Added: Aug 21
Changed: Oct 5
Last Checked: Oct 7 at 5:04PM
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 Good Land Company
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 professionally managed short-term rental occupies a restored Victorian residence with a detached Carriage House. The 3,984-square-foot property, built in 1894, includes more than five sleeping rooms, three kitchens, four and one-half baths, two living rooms, and a formal dining room. The main residence provides multiple gathering areas, while the Carriage House was remodeled in summer 2026 with two rooms, a full bath, laundry equipment, and a kitchenette. Solar panels are installed on the Carriage House, and the basement has a hookup for a third laundry setup.
Located at 206 NE 10th St in McMinnville, the property is within several blocks of restaurant choices and the city’s tourist district. C-3 zoning permits current short-term rental use and also allows retail, professional office, multifamily, and owner-occupied mixed uses, subject to applicable city building and parking requirements. Fixtures may be included; furniture and inventory are negotiable.
Located at 206 NE 10th St in McMinnville, the property is within several blocks of restaurant choices and the city’s tourist district. C-3 zoning permits current short-term rental use and also allows retail, professional office, multifamily, and owner-occupied mixed uses, subject to applicable city building and parking requirements. Fixtures may be included; furniture and inventory are negotiable.
Key Highlights
- 3,984 SF restored Victorian property built in 1894
- More than five sleeping rooms, three kitchens, and 4.5 baths
- Detached Carriage House remodeled in summer 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,154
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,080
$1.0M
Cap Rate 7%
$730,771
$730.8K
Cap Rate 9%
$568,378
$568.4K
Market Conditions
NOI Build-Up for 3,984 SF
Gross rent
$98.0K $24.60/SF
− Vacancy
−$5.0K −$1.25/SF
EGI
$93.0K $23.35/SF
− OpEx
−$41.9K −$10.51/SF
NOI
$51.2K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,080
Cap Rate 7%
$730,771
Cap Rate 9%
$568,378
Alternative Uses
Best Use
Apartment 5plus
$730.8K
$639.4K – $852.6K
NOI $51,154 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$941.0K – $1.25M
NOI $75,277 @ 7.0% cap · market cap 8.87%
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
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,481
Businesses Nearby
Explore this area
Business Placement
Demographics for 97128, OR
38,394
Population
15,291
Households
2.5
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
112.2 sq mi
ZIP Area
342
Density / Sq Mi
$72,055
Median Household Income
$37,427
Median Earnings
$1,295
Median Rent
$419,200
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?
Short term rental property - Restored lodging property with a separate remodeled guest unit and multiple kitchens for flexible group accommodations.
Where is this short term rental property located?
The property is located at 206 NE 10th St McMinnville, OR.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3,984 SF restored Victorian property built in 1894; More than five sleeping rooms, three kitchens, and 4.5 baths; Detached Carriage House remodeled in summer 2026
