Duplex with Private
For Sale
$649,000
2074 NE Chanel Court, Bend, OR 97701
Tenant-occupied residences offer private patios, fenced outdoor areas, and dedicated laundry rooms.
Property Size2,376 SF
Price / SF$273.15
Days on Market25
Property Features for 2074 NE Chanel Court
General Information
Standard status
Active
Size
2,376 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RES
Occupancy
100%
Financials
Gross Income
$39,000
Average Monthly Rent
$1,625
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,158
Building Details
Building Size
2,376 SF
Year Built
1998
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Real Broker
(503) 799-0220
Listed By:
Stephanie Peters
(503) 799-0220
Source:
Allprofessionalsre
Added: Aug 7
Changed: Aug 30
Last Checked: Aug 30 at 5:45PM
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 Real Broker
Investment Insights
Based on property information with market context.
Built in 1998, this 2,376-square-foot duplex contains two tenant-occupied residences, each configured with 2 bedrooms and 2 bathrooms. Both units include walk-in closets, breakfast bars, gas fireplaces, dedicated laundry rooms, private one-car garages, an additional assigned parking space, backyard patios, and fenced private outdoor areas. Recent improvements include carpet installed in 2023, along with a newer microwave and dishwasher.
The property sits on a cul-de-sac at the base of Pilot Butte in Bend’s Northeast area. Shopping, dining, recreation, the hospital, and commuter routes are accessible from the property. One residence is leased through December 2026, while the other is occupied on a month-to-month basis.
The property sits on a cul-de-sac at the base of Pilot Butte in Bend’s Northeast area. Shopping, dining, recreation, the hospital, and commuter routes are accessible from the property. One residence is leased through December 2026, while the other is occupied on a month-to-month basis.
Key Highlights
- 2,376‑square‑foot duplex built in 1998
- Two 2‑bedroom, 2‑bathroom units
- Each unit includes a private 1‑car garage and an additional dedicated parking space
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
$33,331
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
5.14%
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%
$666,620
$666.6K
Cap Rate 7%
$476,157
$476.2K
Cap Rate 9%
$370,344
$370.3K
Market Conditions
NOI Build-Up for 2,376 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
$51.3K $21.60/SF
− Vacancy
−$3.7K −$1.56/SF
EGI
$47.6K $20.04/SF
− OpEx
−$14.3K −$6.01/SF
NOI
$33.3K $14.03/SF
Area
Bend, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$666,620
Cap Rate 7%
$476,157
Cap Rate 9%
$370,344
Alternative Uses
Best Use
Multifamily LT 5
$476.2K
$416.6K – $555.5K
NOI $33,331 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$434.7K
$380.4K – $507.2K
NOI $30,429 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$1.03M
$898.1K – $1.20M
NOI $71,850 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
Explore this area
Business Placement
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
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 - Tenant-occupied residences offer private patios, fenced outdoor areas, and dedicated laundry rooms.
Where is this duplex located?
The property is located at 2074 NE Chanel Court Bend, OR.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,376‑square‑foot duplex built in 1998; Two 2‑bedroom, 2‑bathroom units; Each unit includes a private 1‑car garage and an additional dedicated parking space
