Victorian Duplex with Two
For Sale
$375,000
298 S Columbus Avenue, Medford, OR 97501
Residential Income, Medford, OR
Property Size2,255 SF
Lot Size0.19 Acres
Price / SF$166.30
Days on Market9
Property Features for 298 S Columbus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Sfr-10
Parking features
Driveway
Appliances
Dishwasher, Disposal, Oven, Range, Refrigerator
Subdivision
Nickell Addition
Elementary school
Check with District
Middle school
Check with District
High school
Check with District
Directions
GPS works great!
Standard status
Active
APN
10405978
Size
2,255 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2575
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
detached garage/workshop
Building Details
Year built
1913
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Frame
Roof type
Composition
Architectural style
Victorian
Listing Agency:
John L. Scott Medford
(541) 779-3611
Listed By:
Michelle Thomas
(541) 840-6369
Added: Aug 12
Changed: Aug 19
Last Checked: Aug 20 at 12:06PM
MLS# 220226944
Copyright © 2026 Oregon Data Share. 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 Victorian duplex comprises two residences totaling 2,255 square feet on a 0.19-acre parcel. The home at 300 S. Columbus Avenue has three bedrooms and two bathrooms, along with a newer roof, HVAC installed approximately 6 years ago, and a detached garage/workshop. The residence at 298 S. Columbus Avenue offers two bedrooms and two bathrooms and was renovated to the studs approximately 8 years ago, including plumbing, electrical, fixtures, drywall, and flooring.
Separate access from Chestnut Avenue and no shared driveway support distinct household entries. The property was built in 1913 and features frame construction, composition roofing, natural-gas forced-air heat, public water, and public sewer. Interior finishes include carpet and laminate flooring, while the kitchens include dishwashers, disposals, ovens, ranges, and refrigerators.
Separate access from Chestnut Avenue and no shared driveway support distinct household entries. The property was built in 1913 and features frame construction, composition roofing, natural-gas forced-air heat, public water, and public sewer. Interior finishes include carpet and laminate flooring, while the kitchens include dishwashers, disposals, ovens, ranges, and refrigerators.
Key Highlights
- Two residences totaling 2,255 square feet on 0.19 acres
- 300 S. Columbus: 3BD/2BA Victorian with HVAC approximately 6 years old
- 298 S. Columbus: 2BD/2BA home renovated to the studs approximately 8 years ago
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
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 residences offer separate access, public utilities, and a detached garage/workshop.
Where is this duplex located?
The property is located at 298 S Columbus Avenue 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 residences totaling 2,255 square feet on 0.19 acres; 300 S. Columbus: 3BD/2BA Victorian with HVAC approximately 6 years old; 298 S. Columbus: 2BD/2BA home renovated to the studs approximately 8 years ago
