Two-Home Duplex with
For Sale
$375,000
298 S Columbus Ave, Medford, OR 97501
Two independent homes feature separate access, updated systems, and distinct residential layouts.
Property Size2,255 SF
Price / SF$166.30
Days on Market18
Property Features for 298 S Columbus Ave
General Information
Standard status
Active
Size
2,255 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BD/2BA, 1 x 2BD/2BA
Multifamily Units
2
Building Details
Year Built
1913
Buildings
2
Listing Agency:
Home and Land Real Estate
(541) 301-7980
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 4:16PM
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 Home and Land Real Estate
Investment Insights
Based on property information with market context.
This duplex property contains two residences totaling 2,255 square feet, with each home offering its own address and layout. The 3BD/2BA Victorian residence includes a newer roof, an HVAC system approximately 6 years old, and a detached garage/workshop. The second 2BD/2BA home was renovated to the studs approximately 8 years ago, including plumbing, electrical, fixtures, drywall, and flooring improvements.
Separate access from Chestnut Ave and the absence of a shared driveway support functional independence between the homes. Built in 1913, the property combines an older primary residence with a substantially updated second dwelling in a two-home configuration.
Separate access from Chestnut Ave and the absence of a shared driveway support functional independence between the homes. Built in 1913, the property combines an older primary residence with a substantially updated second dwelling in a two-home configuration.
Key Highlights
- Two homes with separate addresses on one duplex property
- 2,255 SF total building size; built in 1913
- 3BD/2BA Victorian home with newer roof and HVAC approximately 6 years old
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
$24,165
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
6.44%
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%
$483,300
$483.3K
Cap Rate 7%
$345,214
$345.2K
Cap Rate 9%
$268,500
$268.5K
Market Conditions
NOI Build-Up for 2,255 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
$36.5K $16.20/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$34.5K $15.31/SF
− OpEx
−$10.4K −$4.59/SF
NOI
$24.2K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /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%
$483,300
Cap Rate 7%
$345,214
Cap Rate 9%
$268,500
Alternative Uses
Best Use
Multifamily LT 5
$345.2K
$302.1K – $402.8K
NOI $24,165 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$303.0K
$265.1K – $353.5K
NOI $21,208 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$544.3K
$476.3K – $635.0K
NOI $38,100 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
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 independent homes feature separate access, updated systems, and distinct residential layouts.
Where is this duplex located?
The property is located at 298 S Columbus Ave Medford, OR.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two homes with separate addresses on one duplex property; 2,255 SF total building size; built in 1913; 3BD/2BA Victorian home with newer roof and HVAC approximately 6 years old
