Historic Duplex with Solar
New
For Sale
$639,000
2206 Marion ST, North Bend, OR 97459
Remodeled Victorian duplex with two primary suites, a separate apartment, and flexible bonus space.
Property Size2,610 SF
Price / SF$244.83
Days on Market2
Property Features for 2206 Marion ST
General Information
Standard status
Active
Size
2,610 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/3BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
pellet stove
brick fire pit
covered breezeway
private courtyard
shop
solar energy system
bonus room
pantry with pull-out shelving
walk-in closet
walk-in shower
jetted tub
custom tile
LVP flooring
teakwood countertops
stainless steel appliances
new deck
Building Details
Year Built
1910
Construction
Victorian
Listing Agency:
Refind LLC
Listed By:
Linnea Kittrell
(541) 556-5292
Source:
Oregonrealestateadvisors
Added: Sep 6
Last Checked: Sep 7 at 7:45AM
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 Refind LLC
Investment Insights
Based on property information with market context.
Built in 1910, this 2,610-square-foot duplex combines Victorian character with extensive updates. The main residence includes 4 bedrooms, 3 updated bathrooms, two primary suites, a bonus room, foyer, dining and living areas, kitchen, parlor, and oversized pantry. Historic details include high ceilings, crown molding, exposed beams, and a pellet stove, while improvements include teakwood countertops, stainless steel appliances, LVP flooring, updated lighting, newer doors, furnace, water heater, gutters, and roofing approximately 2 years old.
A separate 1-bedroom, 1-bathroom apartment includes a new 6x12 deck. Exterior features include a fully fenced yard, brick fire pit, covered breezeway, private courtyard wired for a hot tub, approximately 17x23 shop with 220 power and a separate electrical panel, and a 2-car garage. The property also has a full solar energy system and is located in North Bend, Oregon.
A separate 1-bedroom, 1-bathroom apartment includes a new 6x12 deck. Exterior features include a fully fenced yard, brick fire pit, covered breezeway, private courtyard wired for a hot tub, approximately 17x23 shop with 220 power and a separate electrical panel, and a 2-car garage. The property also has a full solar energy system and is located in North Bend, Oregon.
Key Highlights
- 2,610‑square‑foot duplex built in 1910
- Main residence offers 4 bedrooms, 3 bathrooms, and two primary suites
- Separate 1‑bedroom, 1‑bathroom apartment with a new 6x12 deck
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
$23,574
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
3.69%
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%
$471,480
$471.5K
Cap Rate 7%
$336,771
$336.8K
Cap Rate 9%
$261,933
$261.9K
Market Conditions
NOI Build-Up for 2,610 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
$36.0K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$33.7K $12.90/SF
− OpEx
−$10.1K −$3.87/SF
NOI
$23.6K $9.03/SF
Area
Coos County, OR
Vacancy
6.50%
Lease Rate
$13.80 /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%
$471,480
Cap Rate 7%
$336,771
Cap Rate 9%
$261,933
Alternative Uses
Best Use
Multifamily LT 5
$336.8K
$294.7K – $392.9K
NOI $23,574 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$312.3K
$273.3K – $364.3K
NOI $21,860 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$472.5K
$413.4K – $551.2K
NOI $33,074 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 97459, OR
14,932
Population
6,856
Households
2.2
Avg Household Size
46
Median Age
29%
College-Educated
93%
High-School Grad
109.3 sq mi
ZIP Area
137
Density / Sq Mi
$79,679
Median Household Income
$39,665
Median Earnings
$1,066
Median Rent
$349,700
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 - Remodeled Victorian duplex with two primary suites, a separate apartment, and flexible bonus space.
Where is this duplex located?
The property is located at 2206 Marion ST North Bend, OR.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 2,610‑square‑foot duplex built in 1910; Main residence offers 4 bedrooms, 3 bathrooms, and two primary suites; Separate 1‑bedroom, 1‑bathroom apartment with a new 6x12 deck
