4-Unit Multifamily
New
For Sale
$500,000
316 SW 1ST St, Madras, OR 97741
MultiFamily, Madras, OR
Property Size3,160 SF
Lot Size0.34 Acres
Price / SF$158.23
Days on Market1
Property Features for 316 SW 1ST St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 6
View
Territorial
Elementary school
Madras
Middle school
Jefferson Co
High school
Madras
Directions
From SW Culver Hwy, take the SW Madison St exit. Left on F St, left on SW 1st. Property on left.
Subdivision
_340
Standard status
Active
APN
9493
Size
3,160 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
Pin: Latitude=44.6315631, Longitude=-121.1343887
Tax Annual Amount
2078
Legal Description
Pin: Latitude=44.6315631, Longitude=-121.1343887
Utilities
Heating system
Ductless (Heating)
Building Details
Year built
1944
Floors in Building
2
Roof type
Metal
Listing Agency:
Emerald Coast Realty-Seal Rock
(541) 283-3589
Listed By:
Geoff Groener
(541) 390-4488
Added: Oct 15
Last Checked: Oct 15 at 10:06PM
MLS# 335689298
Copyright © 2026 Regional Multiple Listing Services. 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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 3,160-square-foot property includes four units in two buildings on a 0.34-acre parcel. The 1944 building has three apartments: one with two bedrooms and two with one bedroom each. A second building, constructed in 1977, contains a two-bedroom unit.
The property is zoned C-1. Heating is ductless, and both buildings have metal roofs.
The property is zoned C-1. Heating is ductless, and both buildings have metal roofs.
Key Highlights
- Four residential units in two buildings
- 3,160 square feet on a 0.34‑acre parcel
- 1944 triplex with one 2‑bedroom unit and two 1‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,469
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,380
$809.4K
Cap Rate 7%
$578,129
$578.1K
Cap Rate 9%
$449,656
$449.7K
Market Conditions
NOI Build-Up for 3,160 SF
Gross rent
$79.6K $25.20/SF
− Vacancy
−$6.1K −$1.92/SF
EGI
$73.6K $23.28/SF
− OpEx
−$33.1K −$10.48/SF
NOI
$40.5K $12.81/SF
Area
Jefferson County, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,380
Cap Rate 7%
$578,129
Cap Rate 9%
$449,656
Alternative Uses
Best Use
Apartment 5plus
$578.1K
$505.9K – $674.5K
NOI $40,469 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.19M – $1.59M
NOI $95,558 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 97741, OR
13,753
Population
4,777
Households
2.9
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
363.9 sq mi
ZIP Area
38
Density / Sq Mi
$69,696
Median Household Income
$37,641
Median Earnings
$993
Median Rent
$308,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings provide a triplex and a separate two-bedroom residence.
Where is this multifamily property located?
The property is located at 316 SW 1ST St Madras, OR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four residential units in two buildings; 3,160 square feet on a 0.34‑acre parcel; 1944 triplex with one 2‑bedroom unit and two 1‑bedroom units
