Multifamily Income
For Sale
$899,000
271 Clay St E, Monmouth, OR 97361
Multifamily residence with efficient floor plans, recent unit updates, and a new membrane roof.
Property Size4,416 SF
Days on Market99
Property Features for 271 Clay St E
General Information
Standard status
Active
Size
4,416 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
6
Building Details
Building Size
4,416 SF
Listing Agency:
Coldwell Banker Commercial Mountain West Real Estate
Listed By:
Alex Rhoten · License #841000042
(503) 587-4777
Source:
Commercialcafe
Added: Jun 4
Changed: Sep 9
Last Checked: Sep 10 at 6:16AM
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 Coldwell Banker Commercial Mountain West Real Estate
Investment Insights
Based on property information with market context.
271 Clay St E is a multifamily income property featuring efficient floor plans. Recent capital improvements include flooring, door, and cabinet updates in some units, along with a newly installed membrane roof.
The offering is presented as a compelling ownership opportunity in Monmouth, Oregon, with an emphasis on providing a stable rental stream. The building is positioned as a portfolio addition for buyers seeking consistent returns within a low-management complex, based on the property’s stated management profile.
Overall, the property combines unit-level refreshes with a roof upgrade to support ongoing operations as part of a larger multifamily strategy.
The offering is presented as a compelling ownership opportunity in Monmouth, Oregon, with an emphasis on providing a stable rental stream. The building is positioned as a portfolio addition for buyers seeking consistent returns within a low-management complex, based on the property’s stated management profile.
Overall, the property combines unit-level refreshes with a roof upgrade to support ongoing operations as part of a larger multifamily strategy.
Key Highlights
- Multifamily residence at 271 Clay Street East in Monmouth
- Efficient unit floor plans
- Recent capital improvements including some flooring, door, and cabinet updates
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
$48,842
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
5.43%
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%
$976,840
$976.8K
Cap Rate 7%
$697,743
$697.7K
Cap Rate 9%
$542,689
$542.7K
Market Conditions
NOI Build-Up for 4,416 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
$95.4K $21.60/SF
− Vacancy
−$6.6K −$1.49/SF
EGI
$88.8K $20.11/SF
− OpEx
−$40.0K −$9.05/SF
NOI
$48.8K $11.06/SF
Area
Polk County, OR
Vacancy
6.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$976,840
Cap Rate 7%
$697,743
Cap Rate 9%
$542,689
Alternative Uses
Best Use
Apartment 5plus
$697.7K
$610.5K – $814.0K
NOI $48,842 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,074 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 97361, OR
13,412
Population
4,858
Households
2.8
Avg Household Size
29
Median Age
28%
College-Educated
94%
High-School Grad
132.9 sq mi
ZIP Area
101
Density / Sq Mi
$70,625
Median Household Income
$28,812
Median Earnings
$1,128
Median Rent
$407,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Multifamily property - Multifamily residence with efficient floor plans, recent unit updates, and a new membrane roof.
Where is this multifamily property located?
The property is located at 271 Clay St E Monmouth, OR.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Multifamily residence at 271 Clay Street East in Monmouth; Efficient unit floor plans; Recent capital improvements including some flooring, door, and cabinet updates
