Two-Unit Bungalow
For Sale
$499,000
3109 University Road, Grants Pass, OR 97527
Residential Income, Grants Pass, OR
Property Size2,021 SF
Lot Size0.12 Acres
Price / SF$246.91
Days on Market46
Property Features for 3109 University Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-3; Res High Density
Fireplace
1
Appliances
Dryer, Oven, Range, Refrigerator, Washer
Subdivision
College Oaks Subdivision
Elementary school
Check with District
Middle school
Check with District
High school
Check with District
Standard status
Active
APN
R342191
Size
2,021 SF
Lot size
0.12 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2449
HOA Fee
$350 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Well
Building Details
Year built
2003
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Frame
Roof type
Composition
Architectural style
Bungalow
Buildings
1
Listing Agency:
RE/MAX Integrity Grants Pass · RE/MAX International
(541) 955-8483
Listed By:
Jason Masters · License #201226708
(541) 770-3325
Added: Sep 17
Changed: Oct 31
Last Checked: Nov 1 at 8:06PM
MLS# 220228784
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.
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Investment Insights
Based on property information with market context.
This 2003 bungalow-style duplex contains 2,021 square feet, with two separate sides configured as two bedrooms and one bathroom each. Interior features include carpet and laminate flooring, natural-gas forced-air heating, central air conditioning, and fireplaces. Each side is equipped with a washer, dryer, oven, range, and refrigerator.
The property is situated in Horizon Village, a 55+ community in Grants Pass, Oregon. Community amenities include a dog park, garden, clubhouse, and gazebo, while the association covers water and yard maintenance. The duplex sits on a 0.12-acre lot and is served by a private well and public sewer. Frame construction, a composition roof, and the established residential setting complete the property profile.
The property is situated in Horizon Village, a 55+ community in Grants Pass, Oregon. Community amenities include a dog park, garden, clubhouse, and gazebo, while the association covers water and yard maintenance. The duplex sits on a 0.12-acre lot and is served by a private well and public sewer. Frame construction, a composition roof, and the established residential setting complete the property profile.
Key Highlights
- Two‑unit duplex with 2,021 square feet on a 0.12‑acre lot
- Each side offers 2 bedrooms and 1 bathroom
- Built in 2003 with bungalow architecture and frame construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,415
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,300
$328.3K
Cap Rate 7%
$234,500
$234.5K
Cap Rate 9%
$182,389
$182.4K
Market Conditions
NOI Build-Up for 2,021 SF
Gross rent
$24.7K $12.24/SF
− Vacancy
−$1.3K −$0.64/SF
EGI
$23.5K $11.60/SF
− OpEx
−$7.0K −$3.48/SF
NOI
$16.4K $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 Rate 5%
$328,300
Cap Rate 7%
$234,500
Cap Rate 9%
$182,389
Alternative Uses
Best Use
Multifamily LT 5
$234.5K
$205.2K – $273.6K
NOI $16,415 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,238 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$458.2K
$401.0K – $534.6K
NOI $32,077 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Two bungalow residences in Horizon Village, a 55+ community with shared outdoor amenities and association-maintained yard service.
Where is this duplex located?
The property is located at 3109 University Road Grants Pass, OR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,021 square feet on a 0.12‑acre lot; Each side offers 2 bedrooms and 1 bathroom; Built in 2003 with bungalow architecture and frame construction
