Victorian Duplex with Separate
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 Market37
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
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: Sep 15
Last Checked: Sep 17 at 6:06PM
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 2,255-square-foot duplex consists of two separate homes on a 0.19-acre lot. The 3BD/2BA Victorian residence includes a newer roof, forced-air natural-gas heating, refreshed carpet and vinyl flooring, plus a detached garage and 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 Avenue and no shared driveway help maintain distinct residential spaces. The property also includes a driveway, public water, public sewer, composition roofing, and frame construction. Built in 1913, the homes offer configurations suited to investment, multigenerational living, or owner occupancy as supported by their independent layouts.
Separate access from Chestnut Avenue and no shared driveway help maintain distinct residential spaces. The property also includes a driveway, public water, public sewer, composition roofing, and frame construction. Built in 1913, the homes offer configurations suited to investment, multigenerational living, or owner occupancy as supported by their independent layouts.
Key Highlights
- Two separate homes with 3BD/2BA and 2BD/2BA layouts
- 2,255 square feet across a 0.19‑acre lot
- Separate Chestnut Avenue entrance and no shared driveway
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
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Open 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
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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 independent homes provide updated interiors, distinct access, and flexible occupancy options.
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 separate homes with 3BD/2BA and 2BD/2BA layouts; 2,255 square feet across a 0.19‑acre lot; Separate Chestnut Avenue entrance and no shared driveway
