Duplex with Shops and
For Sale
$749,000
31534-31536 Easy Av SW, Albany, OR 97321
Multi Family, Albany, OR
Property Size2,220 SF
Lot Size0.97 Acres
Price / SF$337.39
Days on Market150
Property Features for 31534-31536 Easy Av SW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RR2.5
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 1
Patio and Porch features
Patio
Subdivision
Simco
Lot features
Dimension Above, Lot: 7
View
Territorial
Elementary school
Liberty
Middle school
Memorial
High school
West Albany
Directions
Queen to Oakville Rd., Left on Easy Ave, Duplex on the Right.
Standard status
Active
APN
0150819
Size
2,220 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Year
51
Tax Annual Amount
4920
Utilities
Heating system
Natural Gas, Forced Air, Central
Water source
Well
Amenities
covered patios
built-ins & storage
inside utility
Building Details
Year built
1968
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Shingle, Composition
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
NANCY KRUSE · License #900600026
(541) 936-2043
Added: May 8
Changed: Sep 15
Last Checked: Oct 4 at 8:06PM
MLS# 840838
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two 1-bedroom?
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath sides, each at 1,110 sq. ft.
- 0.97‑acre lot with RR2.5 zoning and well water
- Separate shop outbuilding approx. 30x24
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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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two residential units include private patios, single-car garages, and additional accessory buildings for storage or workspace.
Where is this duplex located?
The property is located at 31534-31536 Easy Av 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: Duplex with two 2‑bedroom, 1‑bath sides, each at 1,110 sq. ft.; 0.97‑acre lot with RR2.5 zoning and well water; Separate shop outbuilding approx. 30x24
