Single-Level Duplex with Outdoor
For Sale
$535,000
3005 Mill St, Eugene, OR 97405
Each residence includes wood flooring, spacious living areas, and private outdoor space.
Property Size1,872 SF
Days on Market14
Property Features for 3005 Mill St
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R-1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,180
Building Details
Building Size
1,872 SF
Year Built
1955
Stories
1
Units
2
Listing Agency:
Better Homes and Gardens Real Estate Equinox
(541) 729-2141
Listed By:
Bess Blacquiere · License #950600243
(541) 729-2141
Source:
Metanars
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 7:33AM
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 Better Homes and Gardens Real Estate Equinox
Investment Insights
Based on property information with market context.
This single-level duplex, built in 1955, includes two residences with comfortable floor plans and distinct living areas. Both units feature wood flooring and private outdoor space, providing practical separation between interior and exterior living areas. The property is zoned R-1.
The duplex is positioned near shopping, restaurants, parks, and schools, with downtown Eugene and the University of Oregon also nearby. Its two-unit configuration and established residential setting support both investor and owner-occupant use, with rental income potential explicitly associated with the property.
The duplex is positioned near shopping, restaurants, parks, and schools, with downtown Eugene and the University of Oregon also nearby. Its two-unit configuration and established residential setting support both investor and owner-occupant use, with rental income potential explicitly associated with the property.
Key Highlights
- Two‑unit, single‑level duplex built in 1955
- Wood flooring in each unit
- Spacious living areas with comfortable floor plans
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
$16,789
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
3.14%
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%
$335,780
$335.8K
Cap Rate 7%
$239,843
$239.8K
Cap Rate 9%
$186,544
$186.5K
Market Conditions
NOI Build-Up for 1,872 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
$24.3K $12.96/SF
− Vacancy
−$277 −$0.15/SF
EGI
$24.0K $12.81/SF
− OpEx
−$7.2K −$3.84/SF
NOI
$16.8K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$335,780
Cap Rate 7%
$239,843
Cap Rate 9%
$186,544
Alternative Uses
Best Use
Multifamily LT 5
$239.8K
$209.9K – $279.8K
NOI $16,789 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$209.3K
$183.1K – $244.1K
NOI $14,648 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$564.8K
$494.2K – $659.0K
NOI $39,537 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
833
Businesses Nearby
Explore this area
Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
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 - Each residence includes wood flooring, spacious living areas, and private outdoor space.
Where is this duplex located?
The property is located at 3005 Mill St Eugene, OR.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two‑unit, single‑level duplex built in 1955; Wood flooring in each unit; Spacious living areas with comfortable floor plans
