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    Monmouth 4-Plex Near WOU Campus Title is generated by Realmo AI

    297 Main St W, Monmouth, OR 97361

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    Claim this Listing
    For Sale
    $899,990

    4-Plex - Monmouth, OR

    Property size:
    3,280 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $274/SF
    Added:
    Mar 18, 2025
    Days on Market:
    430
    Last Refresh:
    May 21 at 4:06 pm

    Property Features for 297 Main St W

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room
    Interior features
    High Speed Internet
    Exterior features
    Partially Fenced Yard, Landscaping, Area/Room for RV/Camper
    Fencing
    Fenced, Partial
    Appliances
    Dishwasher, Garbage Disposer, Range, Washer
    Standard status
    Active
    APN
    194882
    Size
    3,280 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5120

    Utilities

    Heating system
    Baseboard, Electric (Heating), Zoned (Heating)
    Cooling system
    Zoned

    Building Details

    Year built
    1971
    Number of units
    4
    Flooring type
    Carpet, Laminate, Other, Vinyl
    Roof type
    Composition, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    CHAD HARRINGTON

    Listing agent CHAD HARRINGTON

    Listing office EXP REALTY, LLC 4800 MEADOWS RD, STE 300, Lake Oswego, OR

    Listing date Mar 18, 2025

    MLS# 826630 Listing URL

    Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Roof replacement at closing.
    • Excellent location: 2 blocks from WOU campus and 1 block from downtown Monmouth.
    • Strong rental history with HUD capability (2 units currently HUD).
    • Updated in‑house laundry facilities for tenants.
    • 7‑spot parking lot with additional streetside parking.
    • 3 of 4 units have been completely remodeled.

    Overview

    This is an investment 4-plex located in Monmouth, Oregon, near the Western Oregon University (WOU) campus and downtown. The property has a history of rentals and is HUD capable, with scheduled increases for two units currently under HUD. The property includes updated laundry facilities accessible to tenants within the building. Balconies are available for upstairs units, and lower units have patios. The property features greenspace and a 7-spot parking lot, with easy-care grounds and streetside parking. Three of the four units have been completely remodeled. The building has a size of 3280 square feet and sits on a lot of 0.21 acres. A roof replacement is planned at closing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monmouth
    County
    Polk
    State
    Oregon
    Longitude
    -123.238583
    Latitude
    44.848323

    Nearby Similar for Sale

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      View Details
    • Contact for pricing

      Redevelopment Opportunity in Monmouth, Oregon

      Prime retail space ideal for redevelopment or owner-user.
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      View Details
    • $951,000

      158 Acres of Diverse Land

      158 acres in Monmouth, Oregon, featuring timber and pasture.
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    • $625,000

      Well-Built Duplex in Monmouth, Oregon

      Four-bedroom duplex with garages, low maintenance, professionally managed.
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    FAQs

    What type of property is this?
    Quadplex - Investment 4-plex near WOU campus with strong rental history.
    Where is this quadplex located?
    The property is located at 297 Main St W Monmouth, OR.
    What is the asking price?
    The asking price for this property is $899,990.
    What are key features of this property?
    This property features: Roof replacement at closing.; Excellent location: **2 blocks from WOU campus and 1 block from downtown Monmouth.**; Strong rental history with HUD capability (2 units currently HUD).
    (541) 905-2698
    We can help!
    Listing Contact
    CHAD HARRINGTON
    Real Estate License ID: 201225668
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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