Duplex With Separate
New
For Sale
$749,000
31534-31536 Easy Ave SW, Albany, OR 97321
Two residential units include patios, garages, storage, and access to additional detached workspace.
Property Size2,220 SF
Lot Size0.97 Acres
Price / SF$337.39
Days on Market4
Property Features for 31534-31536 Easy Ave SW
General Information
Standard status
Active
Size
2,220 SF
Lot size
0.97 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
covered patios
inside utility
built-ins & storage
separate shop
large building with covered RV, shop, and extra 2 bays
Building Details
Year Built
1968
Buildings
3
Listing Agency:
EXP REALTY, LLC
Listed By:
NANCY KRUSE · License #900600026
(541) 936-2043
Source:
Wisser
Added: Sep 19
Last Checked: Sep 21 at 1:46PM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This duplex contains two matching residential units, each offering 2 bedrooms, 1 bathroom, 1,110 square feet, built-in storage, an inside utility area, a covered patio, and a single-car garage. Combined living area totals 2,220 square feet on a 0.97-acre lot. Gas forced-air heating and central air conditioning were installed in 2019, and the roofs were replaced in 2021. The property was built in 1968.
Additional improvements expand the site's utility beyond the residences. A separate approximately 30-by-24-foot shop includes a covered RV area, workspace, and two additional bays. Located at 31534-31536 Easy Ave SW in Albany, the property combines duplex housing with detached storage and work areas.
Additional improvements expand the site's utility beyond the residences. A separate approximately 30-by-24-foot shop includes a covered RV area, workspace, and two additional bays. Located at 31534-31536 Easy Ave SW in Albany, the property combines duplex housing with detached storage and work areas.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per side
- Each unit measures 1,110 square feet; combined property size is 2,220 square feet
- Set on a 0.97‑acre lot with covered patios and single‑car garages
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
$20,956
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
2.80%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 2,220 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
$30.6K $13.80/SF
− Vacancy
−$699 −$0.31/SF
EGI
$29.9K $13.49/SF
− OpEx
−$9.0K −$4.05/SF
NOI
$21.0K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$646.7K
$565.9K – $754.5K
NOI $45,271 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
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Business Placement
Demographics for 97321, OR
30,291
Population
11,790
Households
2.6
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
69.1 sq mi
ZIP Area
438
Density / Sq Mi
$95,687
Median Household Income
$45,963
Median Earnings
$1,264
Median Rent
$442,400
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 residential units include patios, garages, storage, and access to additional detached workspace.
Where is this duplex located?
The property is located at 31534-31536 Easy Ave SW Albany, OR.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per side; Each unit measures 1,110 square feet; combined property size is 2,220 square feet; Set on a 0.97‑acre lot with covered patios and single‑car garages
