Duplex with Private
For Sale
$757,000
2180 W 24th Ave, Eugene, OR 97405
Two-unit property with updated interiors, covered parking, private storage, and access to a Level 2 EV charger.
Property Size2,988 SF
Price / SF$253.35
Days on Market48
Property Features for 2180 W 24th Ave
General Information
Standard status
Active
Size
2,988 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private decks
covered parking
private storage
Level 2 EV charger
Building Details
Year Built
1968
Buildings
1
Listing Agency:
RE/MAX Integrity
(503) 893-2022
Listed By:
Renee Swartz
Source:
Wisser
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 25 at 5:51AM
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 Integrity
Investment Insights
Based on property information with market context.
Built in 1968, this 2,988-square-foot duplex includes two distinct units in a wooded setting with landscaped grounds, a year-round creek, and multiple private decks. Each unit has covered parking, an individual storage area, and access to a Level 2 EV charger.
The east residence is occupied and offers three bedrooms, an office, a laundry room, a wood-burning fireplace, updated flooring, and a refreshed bathroom vanity. The vacant west residence has undergone extensive interior improvements, including a remodeled kitchen with granite counters and stainless steel appliances, refinished and new hardwood flooring, updated lighting, fresh paint, a gas fireplace, a walk-in closet, and a tankless water heater.
The west unit is situated across the street from a nature park with a creek. The property is located at 2180 W 24th AVE in Eugene, Oregon.
The east residence is occupied and offers three bedrooms, an office, a laundry room, a wood-burning fireplace, updated flooring, and a refreshed bathroom vanity. The vacant west residence has undergone extensive interior improvements, including a remodeled kitchen with granite counters and stainless steel appliances, refinished and new hardwood flooring, updated lighting, fresh paint, a gas fireplace, a walk-in closet, and a tankless water heater.
The west unit is situated across the street from a nature park with a creek. The property is located at 2180 W 24th AVE in Eugene, Oregon.
Key Highlights
- 2,988 SF duplex built in 1968
- East unit includes 3 bedrooms plus an office and is tenant occupied
- Vacant west unit features a remodeled kitchen, updated flooring, and tankless water heater
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
$26,798
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
3.54%
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%
$535,960
$536.0K
Cap Rate 7%
$382,829
$382.8K
Cap Rate 9%
$297,756
$297.8K
Market Conditions
NOI Build-Up for 2,988 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
$38.7K $12.96/SF
− Vacancy
−$441 −$0.15/SF
EGI
$38.3K $12.81/SF
− OpEx
−$11.5K −$3.84/SF
NOI
$26.8K $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%
$535,960
Cap Rate 7%
$382,829
Cap Rate 9%
$297,756
Alternative Uses
Best Use
Multifamily LT 5
$382.8K
$335.0K – $446.6K
NOI $26,798 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$334.0K
$292.3K – $389.7K
NOI $23,381 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 8.34%
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
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
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-unit property with updated interiors, covered parking, private storage, and access to a Level 2 EV charger.
Where is this duplex located?
The property is located at 2180 W 24th Ave Eugene, OR.
What is the asking price?
The asking price for this property is $757,000.
What are key features of this property?
This property features: 2,988 SF duplex built in 1968; East unit includes 3 bedrooms plus an office and is tenant occupied; Vacant west unit features a remodeled kitchen, updated flooring, and tankless water heater
