Four-Unit Multifamily
New
For Sale
$729,000
2154 Crater Lake Avenue, Medford, OR 97504
Residential Income, Medford, OR
Property Size3,844 SF
Lot Size0.09 Acres
Price / SF$189.65
Days on Market4
Property Features for 2154 Crater Lake Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Mfr-20
Parking features
Parking Lot
Appliances
Dishwasher, Oven, Range, Range Hood
Subdivision
Birch Gardens Phase 2 & 3
Elementary school
Kennedy Elem
Middle school
Hedrick Middle
High school
North Medford High
Standard status
Active
APN
10982242
Size
3,844 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4923
HOA Fee
$400 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Heat Pump
Water source
Public
Amenities
balconies
patios
washer/dryer hookups
Building Details
Year built
2005
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 770-3325
Listed By:
Juan Mendoza
(541) 538-8846
Added: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 220227287
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.
Built in 2005, this four-unit multifamily property contains 3,844 square feet across four residences. Each unit offers two bedrooms, two full bathrooms, and a 961-square-foot floor plan. Upper-level homes include balconies, while the lower-level residences provide patios and washer and dryer hookups.
The property occupies 0.09 acres in Medford, with convenient access to shopping, restaurants, services, and everyday amenities. Building systems include heat-pump heating and cooling, natural gas, public water, and public sewer. Additional features include a composition roof, vinyl and carpet flooring, dishwashers, ovens, ranges, and range hoods, along with a parking lot.
The property occupies 0.09 acres in Medford, with convenient access to shopping, restaurants, services, and everyday amenities. Building systems include heat-pump heating and cooling, natural gas, public water, and public sewer. Additional features include a composition roof, vinyl and carpet flooring, dishwashers, ovens, ranges, and range hoods, along with a parking lot.
Key Highlights
- Four‑unit multifamily property totaling 3,844 square feet
- Each residence includes 2 bedrooms, 2 full bathrooms, and a 961 sq ft floor plan
- Built in 2005 on a 0.09‑acre parcel
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
$41,193
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
5.65%
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%
$823,860
$823.9K
Cap Rate 7%
$588,471
$588.5K
Cap Rate 9%
$457,700
$457.7K
Market Conditions
NOI Build-Up for 3,844 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
$62.3K $16.20/SF
− Vacancy
−$3.4K −$0.89/SF
EGI
$58.8K $15.31/SF
− OpEx
−$17.7K −$4.59/SF
NOI
$41.2K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /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%
$823,860
Cap Rate 7%
$588,471
Cap Rate 9%
$457,700
Alternative Uses
Best Use
Multifamily LT 5
$588.5K
$514.9K – $686.6K
NOI $41,193 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$516.5K
$451.9K – $602.6K
NOI $36,153 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$927.8K
$811.9K – $1.08M
NOI $64,948 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 97504, OR
49,942
Population
21,290
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
93%
High-School Grad
43.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$81,233
Median Household Income
$43,744
Median Earnings
$1,387
Median Rent
$447,800
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?
Quadplex - Well-maintained fourplex with two-bedroom residences, private outdoor areas, and practical in-unit laundry hookups downstairs.
Where is this quadplex located?
The property is located at 2154 Crater Lake Avenue Medford, OR.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,844 square feet; Each residence includes 2 bedrooms, 2 full bathrooms, and a 961 sq ft floor plan; Built in 2005 on a 0.09‑acre parcel
