Tenant-Occupied
For Sale
$530,000
2829 APPLEWOOD LN, Eugene, OR 97408
Two units feature recent flooring, interior paint, and minor repairs, with tenants already in place.
Property Size1,872 SF
Days on Market9
Property Features for 2829 APPLEWOOD LN
General Information
Standard status
Active
Size
1,872 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$5,371
Building Details
Building Size
1,872 SF
Year Built
1978
Listing Agency:
Hybrid Real Estate
(541) 543-7501
Listed By:
Jodie Vanderbeck
(541) 543-7501
Source:
Worthlandrealestate
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 6 at 4:13AM
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 Hybrid Real Estate
Investment Insights
Based on property information with market context.
This duplex contains an upper and lower unit and was built in 1978. Recent work to both residences included new flooring, fresh interior paint, and additional minor repairs. Tenants are currently occupying the units, providing an existing income-producing configuration for the property.
The property is situated near shopping, bus routes, and access to main roads in Eugene. A new roof and second-story deck are scheduled for installation in August/September. The combination of a two-level layout, completed interior updates, planned exterior improvements, and current occupancy defines the offering.
The property is situated near shopping, bus routes, and access to main roads in Eugene. A new roof and second-story deck are scheduled for installation in August/September. The combination of a two-level layout, completed interior updates, planned exterior improvements, and current occupancy defines the offering.
Key Highlights
- Upper and lower duplex layout
- Tenants currently in place
- Both units received new flooring and interior paint
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
$16,789
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
3.17%
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%
$335,780
$335.8K
Cap Rate 7%
$239,843
$239.8K
Cap Rate 9%
$186,544
$186.5K
Market Conditions
NOI Build-Up for 1,872 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
$24.3K $12.96/SF
− Vacancy
−$277 −$0.15/SF
EGI
$24.0K $12.81/SF
− OpEx
−$7.2K −$3.84/SF
NOI
$16.8K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$335,780
Cap Rate 7%
$239,843
Cap Rate 9%
$186,544
Alternative Uses
Best Use
Multifamily LT 5
$239.8K
$209.9K – $279.8K
NOI $16,789 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$209.3K
$183.1K – $244.1K
NOI $14,648 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$564.8K
$494.2K – $659.0K
NOI $39,537 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 97408, OR
14,655
Population
6,585
Households
2.2
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
49.8 sq mi
ZIP Area
294
Density / Sq Mi
$102,063
Median Household Income
$47,280
Median Earnings
$1,731
Median Rent
$535,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two units feature recent flooring, interior paint, and minor repairs, with tenants already in place.
Where is this duplex located?
The property is located at 2829 APPLEWOOD LN Eugene, OR.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Upper and lower duplex layout; Tenants currently in place; Both units received new flooring and interior paint
