Updated Duplex with
For Sale
$465,000
2505 Prairie Pl SE, Albany, OR 97322
Two residential units offer one-car garages and driveway parking in a cul-de-sac setting.
Property Size1,863 SF
Price / SF$249.60
Days on Market49
Property Features for 2505 Prairie Pl SE
General Information
Standard status
Active
Size
1,863 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1978
Buildings
1
Listing Agency:
STELLAR REALTY NORTHWEST
Listed By:
KATY ROSECRANS · License #200402282
(541) 905-1962
Source:
Oregonhomeshop
Added: Sep 5
Changed: Oct 10
Last Checked: Oct 7 at 4:16PM
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 STELLAR REALTY NORTHWEST
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Investment Insights
Based on property information with market context.
This 1,863-square-foot duplex, built in 1978, contains two residential units, each with 2 bedrooms and 1 bathroom. Property updates include a roof completed in 2024, windows replaced in 2022, and interior paint completed in 2026. Each unit has a one-car garage, with additional driveway parking available.
The property is near Grand Prairie Park and situated on a cul-de-sac. Both units are occupied. The seller handles landscaping, while tenants pay other utilities. A neighboring duplex is also offered for sale, providing an additional nearby property consideration.
The property is near Grand Prairie Park and situated on a cul-de-sac. Both units are occupied. The seller handles landscaping, while tenants pay other utilities. A neighboring duplex is also offered for sale, providing an additional nearby property consideration.
Key Highlights
- 1,863 SF duplex built in 1978
- Each unit includes 2 bedrooms and 1 bathroom
- Roof updated in 2024; windows replaced in 2022; paint completed in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,586
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,720
$351.7K
Cap Rate 7%
$251,229
$251.2K
Cap Rate 9%
$195,400
$195.4K
Market Conditions
NOI Build-Up for 1,863 SF
Gross rent
$25.7K $13.80/SF
− Vacancy
−$586 −$0.31/SF
EGI
$25.1K $13.49/SF
− OpEx
−$7.5K −$4.05/SF
NOI
$17.6K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,720
Cap Rate 7%
$251,229
Cap Rate 9%
$195,400
Alternative Uses
Best Use
Multifamily LT 5
$251.2K
$219.8K – $293.1K
NOI $17,586 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$231.4K
$202.5K – $270.0K
NOI $16,201 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$542.7K
$474.9K – $633.2K
NOI $37,991 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
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Business Placement
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer one-car garages and driveway parking in a cul-de-sac setting.
Where is this duplex located?
The property is located at 2505 Prairie Pl SE Albany, OR.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 1,863 SF duplex built in 1978; Each unit includes 2 bedrooms and 1 bathroom; Roof updated in 2024; windows replaced in 2022; paint completed in 2026
