Building Details

Year Built 1946

Listing Agency: Illinois Valley Real Estate

Listed By: Lynn Johnson · License #r10351 Show Phone

Source: Bendoregonrealestate

Added: Jul 9 Changed: Oct 9 Last Checked: Oct 14 at 8:20PM

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Investment Insights

Based on property information with market context.

Built in 1946, this duplex contains 1,248 square feet across two separate units, each configured with 2 bedrooms and 1 bath. The units are approximately 624 square feet apiece. One residence includes an enclosed rear porch that can serve as additional storage or flex space, while the other has an enclosed carport with washer and dryer hookups. Both units are occupied by long-term tenants, and the property would benefit from updating.

The property occupies a level .32-acre parcel at 228 W River Street in Cave Junction, Oregon. A large open yard provides substantial outdoor space, and the two-unit layout offers distinct residential accommodations within one property.

Key Highlights

• Two‑unit duplex totaling 1,248 square feet
• Each unit measures approximately 624 sq ft with 2 bedrooms and 1 bath
• Long‑term tenants occupy both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,137

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$202,740 $202.7K

Cap Rate 7%

$144,814 $144.8K

Cap Rate 9%

$112,633 $112.6K

Market Conditions

NOI Build-Up for 1,248 SF

Gross rent

$15.3K $12.24/SF

− Vacancy

−$794 −$0.64/SF

EGI

$14.5K $11.60/SF

− OpEx

−$4.3K −$3.48/SF

NOI

$10.1K $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 Rate 5%

$202,740

Cap Rate 7%

$144,814

Cap Rate 9%

$112,633

Alternative Uses

Best Use

Multifamily LT 5

$144.8K

$126.7K – $169.0K (±1% cap)

NOI $10,137 @ 7.0% cap · market cap 5.79%

Second Best

Apartment 5plus

$134.4K

$117.6K – $156.8K (±1% cap)

NOI $9,410 @ 7.0% cap · market cap 5.38%

Theoretical Best

Office A

$283.0K

$247.6K – $330.1K (±1% cap)

NOI $19,808 @ 7.0% cap · market cap 11.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Grocery & Convenience Store Pharmacy Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

334

Businesses Nearby

Explore this area Business Placement

Demographics for 97523, OR

6,548

Population

3,606

Households

1.8

Avg Household Size

50

Median Age

18%

College-Educated

91%

High-School Grad

250.3 sq mi

ZIP Area

26

Density / Sq Mi

$45,960

Median Household Income

$27,227

Median Earnings

$1,239

Median Rent

$301,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit residential property with separate layouts, enclosed ancillary spaces, and established tenancy.

Where is this duplex located?

The property is located at 228 W River Street Cave Junction, OR.

What is the asking price?

The asking price for this property is $175,000.

What are key features of this property?

This property features: Two‑unit duplex totaling 1,248 square feet; Each unit measures approximately 624 sq ft with 2 bedrooms and 1 bath; Long‑term tenants occupy both units