Duplex with
For Sale
$525,000
209 SE Stone -211 Ln, Dallas, OR 97338
MULTI_FAMILY - Dallas, OR
Property Size2,006 SF
Lot Size0.20 Acres
Price / SF$261.71
Days on Market79
Property Features for 209 SE Stone -211 Ln
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4
Patio and Porch features
Patio
Subdivision
Darrens Subdivision
Lot features
Cul-de-sac, Lot: 7
View
Territorial
Elementary school
Lyle
Middle school
LaCreole
High school
Dallas
Standard status
Active
APN
484860
Size
2,006 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3780
Utilities
Heating system
Ductless (Heating)
Building Details
Year built
1994
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
KRISTIN SPARKMAN
(503) 910-6305
Added: Jun 5
Changed: Aug 5
Last Checked: Aug 22 at 9:06AM
MLS# 842760
Copyright © 2026 Willamette Valley Multiple Listing Service. 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 duplex offers a two-unit layout with a functional design in each home. Each unit includes two bedrooms and two full bathrooms, including a primary suite with its own private attached bath. Interior finishes include vinyl and carpet flooring. Heating is provided by ductless systems, and the home features a composition roof. The property includes a patio for outdoor space.
Set on a 0.2-acre lot, the duplex is tucked away at the end of a quiet, low-traffic cul-de-sac in Dallas, Oregon (Polk County). Built in 1994, the property totals 2,006 square feet.
For buyers seeking a low-maintenance duplex configuration, the same-bedroom-and-bath setup in each unit supports straightforward occupancy and day-to-day living.
Set on a 0.2-acre lot, the duplex is tucked away at the end of a quiet, low-traffic cul-de-sac in Dallas, Oregon (Polk County). Built in 1994, the property totals 2,006 square feet.
For buyers seeking a low-maintenance duplex configuration, the same-bedroom-and-bath setup in each unit supports straightforward occupancy and day-to-day living.
Key Highlights
- 0.2‑acre lot
- 2,006 square feet total
- Built in 1994
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
$24,092
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
4.59%
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%
$481,840
$481.8K
Cap Rate 7%
$344,171
$344.2K
Cap Rate 9%
$267,689
$267.7K
Market Conditions
NOI Build-Up for 2,006 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
$36.8K $18.36/SF
− Vacancy
−$2.4K −$1.20/SF
EGI
$34.4K $17.16/SF
− OpEx
−$10.3K −$5.15/SF
NOI
$24.1K $12.01/SF
Area
Polk County, OR
Vacancy
6.55%
Lease Rate
$18.36 /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%
$481,840
Cap Rate 7%
$344,171
Cap Rate 9%
$267,689
Alternative Uses
Best Use
Multifamily LT 5
$344.2K
$301.2K – $401.5K
NOI $24,092 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$317.0K
$277.3K – $369.8K
NOI $22,187 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$532.6K
$466.0K – $621.4K
NOI $37,283 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 97338, OR
22,741
Population
9,109
Households
2.5
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
124.8 sq mi
ZIP Area
182
Density / Sq Mi
$73,345
Median Household Income
$37,359
Median Earnings
$1,197
Median Rent
$388,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with a patio and ductless heating, built in 1994 and configured for two-bedroom, two-bath living in each unit.
Where is this duplex located?
The property is located at 209 SE Stone -211 Ln Dallas, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 0.2‑acre lot; 2,006 square feet total; Built in 1994
