Single-Level Duplex With
For Sale
$525,000
2245 SW Star Drive, Grants Pass, OR 97527
Well-maintained two-unit property with private outdoor areas, covered parking, and R-3 high-density residential zoning.
Property Size2,254 SF
Days on Market19
Property Features for 2245 SW Star Drive
General Information
Standard status
Active
Size
2,254 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R-3; Res High Density
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,413
Building Details
Building Size
2,254 SF
Year Built
2004
Buildings
1
Stories
1
Units
2
Listing Agency:
RE/MAX Platinum
(541) 301-7125
Listed By:
David Wright · License #200004070
(541) 301-7125
Source:
Allprofessionalsre
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 11 at 2:14PM
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 Platinum
Investment Insights
Based on property information with market context.
Built in 2004, this duplex includes two single-level units with dedicated single-car garages and single-car carports. Interior features include vaulted ceilings in the great room, dining room, and kitchen, along with covered entries, covered patios, fenced backyard areas, and laundry rooms with pantry space. Primary suites provide direct access to the covered patios and backyards, while sliding doors connect the great rooms to the outdoor areas.
The property is zoned R-3; Res High Density and is located at 2245 SW Star Drive in Grants Pass, Oregon. Long-term tenants and an established rental history are also noted in the property information.
The property is zoned R-3; Res High Density and is located at 2245 SW Star Drive in Grants Pass, Oregon. Long-term tenants and an established rental history are also noted in the property information.
Key Highlights
- Two‑unit duplex with single‑level layouts
- Single‑car garage and single‑carport parking for each side
- Vaulted ceilings in great rooms, dining rooms, and kitchens
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
$18,308
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
3.49%
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%
$366,160
$366.2K
Cap Rate 7%
$261,543
$261.5K
Cap Rate 9%
$203,422
$203.4K
Market Conditions
NOI Build-Up for 2,254 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
$27.6K $12.24/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$26.2K $11.60/SF
− OpEx
−$7.8K −$3.48/SF
NOI
$18.3K $8.12/SF
Area
Josephine County, OR
Vacancy
5.20%
Lease Rate
$12.24 /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%
$366,160
Cap Rate 7%
$261,543
Cap Rate 9%
$203,422
Alternative Uses
Best Use
Multifamily LT 5
$261.5K
$228.9K – $305.1K
NOI $18,308 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$242.8K
$212.4K – $283.3K
NOI $16,995 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$511.1K
$447.2K – $596.3K
NOI $35,775 @ 7.0% cap · market cap 6.81%
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
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 97527, OR
36,358
Population
15,481
Households
2.3
Avg Household Size
49
Median Age
19%
College-Educated
90%
High-School Grad
219.8 sq mi
ZIP Area
165
Density / Sq Mi
$66,396
Median Household Income
$35,825
Median Earnings
$1,350
Median Rent
$408,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit property with private outdoor areas, covered parking, and R-3 high-density residential zoning.
Where is this duplex located?
The property is located at 2245 SW Star Drive Grants Pass, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with single‑level layouts; Single‑car garage and single‑carport parking for each side; Vaulted ceilings in great rooms, dining rooms, and kitchens
