Tenant-Occupied Duplex with
New
For Sale
$649,000
2074 NE Chanel Court, Bend, OR 97701
MULTI_FAMILY - Ranch - Bend, OR
Property Size2,376 SF
Lot Size0.23 Acres
Price / SF$273.15
Days on Market5
Property Features for 2074 NE Chanel Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RES
Parking features
Driveway
Window features
Double Pane Windows
Patio and Porch features
Deck
Interior features
Breakfast Bar, Ceiling Fan(s), Linen Closet, Primary Downstairs, Shower/Tub Combo, Walk-In Closet(s)
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Microwave, Oven, Refrigerator, Washer, Water Heater
Subdivision
Pilot Butte Park Est
Elementary school
Juniper Elem
Middle school
Pilot Butte Middle
High school
Bend Sr High
Standard status
Active
APN
194743
Size
2,376 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5159
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
walk-in closets
breakfast bar
gas fireplace
dedicated laundry room
backyard patio
fenced in private outdoor space
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Concrete
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Stephanie Peters
(503) 799-0220
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 8:06PM
MLS# 220226861
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,376-square-foot duplex contains two tenant-occupied residences, each with 2 bedrooms and 2 bathrooms. Both layouts include walk-in closets, breakfast bars, gas fireplaces, dedicated laundry rooms, private one-car garages, an additional assigned parking space, backyard patios, and fenced outdoor areas. The property was built in 1998 with concrete construction, forced-air heat, wall or window-unit cooling, public water, and public sewer. Recent improvements include carpet installed in 2023, along with a newer microwave and dishwasher.
Located on a cul-de-sac near Pilot Butte in Bend's Northeast area, the property is positioned near shopping, dining, recreation, the hospital, and commuter routes. One residence is leased month-to-month, while the other lease runs through December 2026. The 0.23-acre site also includes driveway parking, a deck, and composition roofing.
Located on a cul-de-sac near Pilot Butte in Bend's Northeast area, the property is positioned near shopping, dining, recreation, the hospital, and commuter routes. One residence is leased month-to-month, while the other lease runs through December 2026. The 0.23-acre site also includes driveway parking, a deck, and composition roofing.
Key Highlights
- 2,376 square feet configured as two 2‑bedroom, 2‑bathroom units
- Both units are tenant occupied; one is month‑to‑month and the other is leased through December 2026
- Each residence 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
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 - Two leased units offer private outdoor areas, laundry rooms, and dedicated parking.
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 feet configured as two 2‑bedroom, 2‑bathroom units; Both units are tenant occupied; one is month‑to‑month and the other is leased through December 2026; Each residence includes a private 1‑car garage and an additional dedicated parking space
