Four-Home Multifamily
New
For Sale
$450,000
32120 Nichols LN, Cottage Grove, OR 97424
Four residential structures share one parcel with separate septic systems and a common well.
Property Size1,456 SF
Price / SF$309.07
Days on Market3
Property Features for 32120 Nichols LN
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
the 2 front homes are in poor condition
Additional Details
Multifamily Units
4
Building Details
Year Built
1960
Buildings
4
Listing Agency:
Premiere Property Group, LLC
Listed By:
NW Pacific Realty
(503) 783-9401
Source:
Nwpacificrealty
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 7:42AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This multifamily property includes four homes on one parcel: one stick-built residence and three manufactured homes. The property encompasses over 2 acres and is served by one shared well along with four individual septic systems. The two homes at the front of the parcel are reported to be in poor condition, and the sale is offered as-is with no repairs by the seller.
The parcel is described as potentially dividable, subject to the buyer’s independent due diligence and applicable requirements. The property dates to 1960 and offers a four-home configuration with separate wastewater systems across the site.
The parcel is described as potentially dividable, subject to the buyer’s independent due diligence and applicable requirements. The property dates to 1960 and offers a four-home configuration with separate wastewater systems across the site.
Key Highlights
- Four homes on over 2 acres
- One stick‑built home and three manufactured homes
- One shared well serves the property
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
$13,307
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
2.96%
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%
$266,140
$266.1K
Cap Rate 7%
$190,100
$190.1K
Cap Rate 9%
$147,856
$147.9K
Market Conditions
NOI Build-Up for 1,456 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
$25.7K $17.64/SF
− Vacancy
−$1.5K −$1.02/SF
EGI
$24.2K $16.62/SF
− OpEx
−$10.9K −$7.48/SF
NOI
$13.3K $9.14/SF
Area
Lane County, OR
Vacancy
5.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$266,140
Cap Rate 7%
$190,100
Cap Rate 9%
$147,856
Alternative Uses
Best Use
Apartment 5plus
$190.1K
$166.3K – $221.8K
NOI $13,307 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.3K
$322.3K – $429.7K
NOI $25,784 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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Business Placement
Demographics for 97424, OR
18,750
Population
7,920
Households
2.4
Avg Household Size
45
Median Age
22%
College-Educated
91%
High-School Grad
246.2 sq mi
ZIP Area
76
Density / Sq Mi
$71,985
Median Household Income
$36,588
Median Earnings
$1,012
Median Rent
$349,700
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?
Multifamily property - Four residential structures share one parcel with separate septic systems and a common well.
Where is this multifamily property located?
The property is located at 32120 Nichols LN Cottage Grove, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four homes on over 2 acres; One stick‑built home and three manufactured homes; One shared well serves the property
