Multifamily
For Sale
$705,000
Pending
2145 NW Heidi Lane, Grants Pass, OR 97526
The parcel carries R-3 residential high-density zoning.
Property Size3,948 SF
Days on Market85
Property Features for 2145 NW Heidi Lane
General Information
Standard status
Pending
Size
3,948 SF
Property subtype
Residential Income
Zoning
R-3; Res High Density
Taxes and HOA fees
Annual Taxes
$5,806
Amenities
Park, Playground
Heat Pump
Electric, Heat Pump
Dishwasher, Oven, Range, Refrigerator, Water Heater
High Speed Internet
Mountain(s), Neighborhood
Asphalt, Attached, Concrete, No Garage, On Street, Garage
Other
Building Details
Building Size
3,948 SF
Year Built
1991
Listing Agency:
RE/MAX Ideal Brokers Medford, Inc.
Listed By:
Michael D Masters · License #801004242
(541) 660-6006
Source:
Evrealestate
Added: Jul 9
Changed: Sep 28
Last Checked: Sep 30 at 12:31PM
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 RE/MAX Ideal Brokers Medford, Inc.
Investment Insights
Based on property information with market context.
Built in 1991, this multifamily property is located on NW Heidi Lane in Grants Pass, Oregon. Interior features include a heat pump, dishwasher, oven, range, refrigerator, water heater, and high-speed internet.
The property is zoned R-3; Res High Density.
The property is zoned R-3; Res High Density.
Key Highlights
- R‑3; Res High Density zoning
- Built in 1991
- Interior features include a heat pump and high‑speed internet
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
$29,767
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
4.22%
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%
$595,340
$595.3K
Cap Rate 7%
$425,243
$425.2K
Cap Rate 9%
$330,744
$330.7K
Market Conditions
NOI Build-Up for 3,948 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
$56.9K $14.40/SF
− Vacancy
−$2.7K −$0.69/SF
EGI
$54.1K $13.71/SF
− OpEx
−$24.4K −$6.17/SF
NOI
$29.8K $7.54/SF
Area
Josephine County, OR
Vacancy
4.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$595,340
Cap Rate 7%
$425,243
Cap Rate 9%
$330,744
Alternative Uses
Best Use
Apartment 5plus
$425.2K
$372.1K – $496.1K
NOI $29,767 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$895.2K
$783.3K – $1.04M
NOI $62,661 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - The parcel carries R-3 residential high-density zoning.
Where is this multifamily property located?
The property is located at 2145 NW Heidi Lane Grants Pass, OR.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: R‑3; Res High Density zoning; Built in 1991; Interior features include a heat pump and high‑speed internet
