Accessible Two-Unit
For Sale
$465,000
3036 University Rd #3036-3038, Grants Pass, OR 97527
Two one-bedroom residences offer vaulted ceilings, gas fireplaces, private decks, and attached garages within a 55+ community.
Property Size1,668 SF
Price / SF$278.78
Days on Market8
Property Features for 3036 University Rd #3036-3038
General Information
Standard status
Active
Size
1,668 SF
Property subtype
Multi-Family
Building Details
Year Built
2004
Listing Agency:
Home and Land Real Estate
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Sep 11
Changed: Sep 17
Last Checked: Sep 16 at 6:39PM
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.
Built in 2004, this 1,668-square-foot duplex contains two one-bedroom residences, each with an open living arrangement, vaulted ceilings, skylights, generous closet space, and a gas fireplace. Both units include a washer and dryer, wheelchair-accessible features, bedroom access to a back deck, and an attached one-car garage.
One residence is occupied by a long-term tenant, while the second provides flexibility for an owner-occupant or additional rental use. The property is part of Horizon Village, a 55+ duplex community in Grants Pass. HOA services include landscaping, water, and access to a clubhouse. Shopping, medical services, and everyday amenities are nearby.
One residence is occupied by a long-term tenant, while the second provides flexibility for an owner-occupant or additional rental use. The property is part of Horizon Village, a 55+ duplex community in Grants Pass. HOA services include landscaping, water, and access to a clubhouse. Shopping, medical services, and everyday amenities are nearby.
Key Highlights
- 1,668 SF duplex built in 2004
- Two one‑bedroom units with open layouts, vaulted ceilings, skylights, and gas fireplaces
- Each residence has an attached one‑car garage and washer and dryer
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
$13,548
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
2.91%
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%
$270,960
$271.0K
Cap Rate 7%
$193,543
$193.5K
Cap Rate 9%
$150,533
$150.5K
Market Conditions
NOI Build-Up for 1,668 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
$20.4K $12.24/SF
− Vacancy
−$1.1K −$0.64/SF
EGI
$19.4K $11.60/SF
− OpEx
−$5.8K −$3.48/SF
NOI
$13.5K $8.12/SF
Area
Josephine County, OR
Vacancy
5.20%
Lease Rate
$12.24 /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%
$270,960
Cap Rate 7%
$193,543
Cap Rate 9%
$150,533
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$179.7K
$157.2K – $209.6K
NOI $12,576 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,474 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 97527, OR
36,358
Population
15,481
Households
2.3
Avg Household Size
49
Median Age
19%
College-Educated
90%
High-School Grad
219.8 sq mi
ZIP Area
165
Density / Sq Mi
$66,396
Median Household Income
$35,825
Median Earnings
$1,350
Median Rent
$408,200
Median Home Value
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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 one-bedroom residences offer vaulted ceilings, gas fireplaces, private decks, and attached garages within a 55+ community.
Where is this duplex located?
The property is located at 3036 University Rd #3036-3038 Grants Pass, OR.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 1,668 SF duplex built in 2004; Two one‑bedroom units with open layouts, vaulted ceilings, skylights, and gas fireplaces; Each residence has an attached one‑car garage and washer and dryer
