Updated Two-Unit
For Sale
$510,000
2829 APPLEWOOD Ln, Eugene, OR 97408
MultiFamily, Eugene, OR
Property Size1,872 SF
Lot Size0.15 Acres
Price / SF$272.44
Days on Market50
Property Features for 2829 APPLEWOOD Ln
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4
Elementary school
Gilham
Middle school
Cal Young
High school
Sheldon
Directions
Green Acres, North on Applewood, first right into cul de sac, property on left
Subdivision
_241
Standard status
Active
APN
1285608
Size
1,872 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
See RLID
Tax Annual Amount
5371
Legal Description
See RLID
Utilities
Heating system
Ceiling
Building Details
Year built
1978
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Hybrid Real Estate
(541) 343-0322
Listed By:
Jodie Vanderbeck
(541) 543-7501
Added: Jul 30
Changed: Sep 13
Last Checked: Sep 17 at 3:06PM
MLS# 723290927
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,872 square feet on a 0.15-acre lot. Built in 1978, the duplex has two levels and includes four bedrooms and two bathrooms. Both units received new flooring, interior paint, and minor repairs earlier this year. The roof has been replaced, and the second-story deck has also been renewed.
The property is in Eugene near shopping, bus routes, and main-road access. R-2 zoning supports its duplex configuration. Tenants are in place, so visits require advance coordination and should not occur without notice.
The property is in Eugene near shopping, bus routes, and main-road access. R-2 zoning supports its duplex configuration. Tenants are in place, so visits require advance coordination and should not occur without notice.
Key Highlights
- Two‑unit duplex with 1,872 square feet
- 0.15‑acre lot with R‑2 zoning
- Both units received new flooring and interior paint earlier this year
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
3.29%
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 3.29%
Second Best
Apartment 5plus
$209.3K
$183.1K – $244.1K
NOI $14,648 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$564.8K
$494.2K – $659.0K
NOI $39,537 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature refreshed interiors, a replaced roof, and a second-story deck replacement.
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 $510,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,872 square feet; 0.15‑acre lot with R‑2 zoning; Both units received new flooring and interior paint earlier this year
