2-Unit Remodeled
For Sale
$425,000
2970 Longwood Dr, Reedsport, OR 97467
Updated kitchens and appliances complement private outdoor areas at this residential income property.
Property Size2,474 SF
Price / SF$171.79
Days on Market9
Property Features for 2970 Longwood Dr
General Information
Standard status
Active
Size
2,474 SF
Property subtype
Multi Family Home
Zoning
R-1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,008
Building Details
Building Size
2,474 SF
Year Built
1954
Stories
2
Units
2
Listing Agency:
Pacific Properties
Listed By:
Shai Cancino
(541) 217-7521
Source:
Duanejohnson
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 29 at 7:43PM
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 Pacific Properties
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Investment Insights
Based on property information with market context.
This 2,474-square-foot duplex, built in 1954 and zoned R-1, contains two separate units. The larger unit has a single-level plan with three bedrooms and one bathroom, plus a renovated kitchen with granite countertops, stainless steel appliances, and updated lighting. The second unit has new appliances, fresh interior paint, and replacement trim. Improvements across the property include new windows, interior and exterior doors, painted siding, private decks, and fencing.
The property is in Reedsport, four miles from the Pacific Ocean and Winchester Bay. Dean Creek Elk Viewing Area is three miles away. The Oregon Dunes National Recreation Area and Umpqua Discovery Center are also among the area attractions.
The property is in Reedsport, four miles from the Pacific Ocean and Winchester Bay. Dean Creek Elk Viewing Area is three miles away. The Oregon Dunes National Recreation Area and Umpqua Discovery Center are also among the area attractions.
Key Highlights
- Two‑unit duplex totaling 2,474 square feet
- R‑1 zoning
- Built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,687
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,740
$253.7K
Cap Rate 7%
$181,243
$181.2K
Cap Rate 9%
$140,967
$141.0K
Market Conditions
NOI Build-Up for 2,474 SF
Gross rent
$19.6K $7.92/SF
− Vacancy
−$1.5K −$0.59/SF
EGI
$18.1K $7.33/SF
− OpEx
−$5.4K −$2.20/SF
NOI
$12.7K $5.13/SF
Area
Douglas County, OR
Vacancy
7.50%
Lease Rate
$7.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,740
Cap Rate 7%
$181,243
Cap Rate 9%
$140,967
Alternative Uses
Best Use
Multifamily LT 5
$181.2K
$158.6K – $211.5K
NOI $12,687 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$170.1K
$148.9K – $198.5K
NOI $11,908 @ 7.0% cap · market cap 2.80%
Theoretical Best
Specialty Retail
$428.2K
$374.7K – $499.6K
NOI $29,974 @ 7.0% cap · market cap 7.05%
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
196
Businesses Nearby
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Business Placement
Demographics for 97467, OR
5,602
Population
2,816
Households
2
Avg Household Size
53
Median Age
14%
College-Educated
93%
High-School Grad
327.9 sq mi
ZIP Area
17
Density / Sq Mi
$58,333
Median Household Income
$41,441
Median Earnings
$750
Median Rent
$224,100
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 - Updated kitchens and appliances complement private outdoor areas at this residential income property.
Where is this duplex located?
The property is located at 2970 Longwood Dr Reedsport, OR.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,474 square feet; R‑1 zoning; Built in 1954
