Building Details

Year Built 2022

Listing Agency: HOMESMART REALTY GROUP

Listed By: CHRIS FORRETTE · License #990400134 Show Phone

Source: Amymcleod

Added: Aug 21 Changed: Oct 2 Last Checked: Oct 15 at 3:48AM

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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 HOMESMART REALTY GROUP

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Investment Insights

Based on property information with market context.

This 3,215-square-foot duplex contains two townhome-style residences, each with 3 bedrooms, 2.5 baths, and a 1-car garage. Completed in 2022, the property offers vinyl plank flooring, electric heat pumps with forced-air delivery, contemporary floor plans, and construction designed for straightforward upkeep.

The property is fully leased and located at 315 S 1st St in Silverton, Oregon. Each unit provides a similar residential configuration, creating a consistent operating profile across the building while retaining the practical layout associated with townhome-style living.

Key Highlights

• Two‑unit duplex with 3,215 square feet of total property size
• Each unit includes 3 bedrooms, 2.5 baths, and a 1‑car garage
• Built in 2022

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,467

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$489,340 $489.3K

Cap Rate 7%

$349,529 $349.5K

Cap Rate 9%

$271,856 $271.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,215 SF

Gross rent

$37.4K $11.64/SF

− Vacancy

−$2.5K −$0.77/SF

EGI

$35.0K $10.87/SF

− OpEx

−$10.5K −$3.26/SF

NOI

$24.5K $7.61/SF

Area

Marion County, OR

Vacancy

6.60%

Lease Rate

$11.64 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$489,340

Cap Rate 7%

$349,529

Cap Rate 9%

$271,856

Alternative Uses

Best Use

Multifamily LT 5

$349.5K

$305.8K – $407.8K (±1% cap)

NOI $24,467 @ 7.0% cap · market cap 3.16%

Second Best

Apartment 5plus

$324.8K

$284.2K – $379.0K (±1% cap)

NOI $22,738 @ 7.0% cap · market cap 2.93%

Theoretical Best

Specialty Retail

$756.1K

$661.6K – $882.1K (±1% cap)

NOI $52,928 @ 7.0% cap · market cap 6.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store Grocery & Convenience Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

949

Businesses Nearby

Explore this area Business Placement

Demographics for 97381, OR

16,313

Population

5,882

Households

2.8

Avg Household Size

40

Median Age

31%

College-Educated

92%

High-School Grad

110.0 sq mi

ZIP Area

148

Density / Sq Mi

$84,077

Median Household Income

$42,337

Median Earnings

$1,491

Median Rent

$497,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Fully leased residential income property with two updated-feeling residences and attached garage parking.

Where is this duplex located?

The property is located at 315 S 1st St Silverton, OR.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: Two‑unit duplex with 3,215 square feet of total property size; Each unit includes 3 bedrooms, 2.5 baths, and a 1‑car garage; Built in 2022