Remodeled Duplex with Updated
For Sale
$640,000
2090 Minnesota Street, Eugene, OR 97402
Two refreshed residences offer separate layouts, contemporary finishes, and practical owner-occupant or rental flexibility.
Property Size2,656 SF
Price / SF$240.96
Days on Market230
Property Features for 2090 Minnesota Street
General Information
Standard status
Active
Size
2,656 SF
Total Parking Spaces
6
Property subtype
Multi Family
Zoning
Res
Taxes and HOA fees
Annual Taxes
$4,159
Amenities
2
Other
Slab
Shingle
Building Details
Year Built
1947
Listing Agency:
United Real Estate Properties
(541) 513-7251
Listed By:
Lara Fernandez · License #201249652
(541) 513-7251
Source:
Compass
Added: Jan 14
Changed: Aug 30
Last Checked: Aug 31 at 9:39PM
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 United Real Estate Properties
Investment Insights
Based on property information with market context.
This duplex at 2090 Minnesota Street in Eugene includes 2,656 square feet across two updated residences. The unit mix consists of a three-bedroom, two-bath home and a two-bedroom, one-bath home, each with an open-concept arrangement and abundant natural light. Both interiors feature refreshed kitchens with modern cabinetry and countertops, updated bathrooms, new flooring, and fresh finishes. A new roof and shingle exterior support the recent renovation program, while the slab foundation provides a straightforward building configuration.
The property sits on a corner lot and carries Res zoning. Built in 1947, it has been comprehensively remodeled while retaining separate units with functional layouts and defined separation between residences. The address is in Eugene, Oregon 97402.
The property sits on a corner lot and carries Res zoning. Built in 1947, it has been comprehensively remodeled while retaining separate units with functional layouts and defined separation between residences. The address is in Eugene, Oregon 97402.
Key Highlights
- 2,656 SF duplex with two separate residences
- Unit mix includes 3 bedrooms/2 baths and 2 bedrooms/1 bath
- Updated kitchens with modern cabinetry and countertops
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
$23,821
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
3.72%
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%
$476,420
$476.4K
Cap Rate 7%
$340,300
$340.3K
Cap Rate 9%
$264,678
$264.7K
Market Conditions
NOI Build-Up for 2,656 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
$34.4K $12.96/SF
− Vacancy
−$392 −$0.15/SF
EGI
$34.0K $12.81/SF
− OpEx
−$10.2K −$3.84/SF
NOI
$23.8K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$476,420
Cap Rate 7%
$340,300
Cap Rate 9%
$264,678
Alternative Uses
Best Use
Multifamily LT 5
$340.3K
$297.8K – $397.0K
NOI $23,821 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$296.9K
$259.8K – $346.4K
NOI $20,783 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$801.4K
$701.2K – $934.9K
NOI $56,095 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
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 refreshed residences offer separate layouts, contemporary finishes, and practical owner-occupant or rental flexibility.
Where is this duplex located?
The property is located at 2090 Minnesota Street Eugene, OR.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 2,656 SF duplex with two separate residences; Unit mix includes 3 bedrooms/2 baths and 2 bedrooms/1 bath; Updated kitchens with modern cabinetry and countertops
