Upgraded Duplex with
For Sale
$547,500
2412 SW Wickiup Ave, Redmond, OR 97756
Two mirrored units offer two bedrooms, one bath, and included appliances.
Property Size1,638 SF
Price / SF$334.25
Days on Market18
Property Features for 2412 SW Wickiup Ave
General Information
Standard status
Active
Size
1,638 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
attached garages
storage units
RV parking
fenced backyards
air conditioning
window treatments
Building Details
Year Built
1969
Buildings
1
Listing Agency:
Windermere Realty Trust
(503) 329-7209
Listed By:
Jan Stranski, P.C. · License #980700144
Source:
Wyndeekono
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 25 at 6:52AM
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 Windermere Realty Trust
Investment Insights
Based on property information with market context.
This 1,638-square-foot duplex at 2412 SW Wickiup Ave includes two matching residences, each with approximately 819 square feet, two bedrooms, and one bathroom. Both units feature attached single-car garages, separate storage areas, divided backyards, and adjacent RV parking. Appliances and window treatments are included.
Recent property improvements include laminate flooring, updated light fixtures, cedar fencing, electrical work, and A/C upgrades. The duplex was built in 1969 and is currently occupied. Positioned on an oversized corner lot, the property also includes a buildable area subject to buyer due diligence.
Recent property improvements include laminate flooring, updated light fixtures, cedar fencing, electrical work, and A/C upgrades. The duplex was built in 1969 and is currently occupied. Positioned on an oversized corner lot, the property also includes a buildable area subject to buyer due diligence.
Key Highlights
- Two‑unit duplex with 1,638 square feet total
- Each unit has approximately 819 square feet, 2 bedrooms, and 1 bath
- Attached single‑car garages plus storage units
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
$22,978
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
4.20%
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%
$459,560
$459.6K
Cap Rate 7%
$328,257
$328.3K
Cap Rate 9%
$255,311
$255.3K
Market Conditions
NOI Build-Up for 1,638 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
$35.4K $21.60/SF
− Vacancy
−$2.6K −$1.56/SF
EGI
$32.8K $20.04/SF
− OpEx
−$9.8K −$6.01/SF
NOI
$23.0K $14.03/SF
Area
Deschutes County, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$459,560
Cap Rate 7%
$328,257
Cap Rate 9%
$255,311
Alternative Uses
Best Use
Multifamily LT 5
$328.3K
$287.2K – $383.0K
NOI $22,978 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$299.7K
$262.2K – $349.6K
NOI $20,977 @ 7.0% cap · market cap 3.83%
Theoretical Best
Retail
$563.7K
$493.3K – $657.7K
NOI $39,461 @ 7.0% cap · market cap 7.21%
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
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
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 - Two mirrored units offer two bedrooms, one bath, and included appliances.
Where is this duplex located?
The property is located at 2412 SW Wickiup Ave Redmond, OR.
What is the asking price?
The asking price for this property is $547,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,638 square feet total; Each unit has approximately 819 square feet, 2 bedrooms, and 1 bath; Attached single‑car garages plus storage units
