Duplex with Private
For Sale
$849,000
3585 Emerald St, Eugene, OR 97405
South Hills duplex with garages, patios, fireplaces, and access to parks, shopping, bike paths, and nearby higher education.
Property Size3,376 SF
Price / SF$251.48
Days on Market19
Property Features for 3585 Emerald St
General Information
Standard status
Active
Size
3,376 SF
Property subtype
Multi-Family
Financials
Gross Income
$64,800
Average Monthly Rent
$2,700
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Amenities
private backyards
paved patios
washer/dryer hookups
wood-burning fireplaces
balconies with city views
Building Details
Year Built
1968
Listing Agency:
Amy Dean Real Estate, Inc.
(541) 554-4442
Listed By:
Amy Dean · License #200504349
Source:
Wisser
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 31 at 6:49PM
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 Amy Dean Real Estate, Inc.
Investment Insights
Based on property information with market context.
Built in 1968, this South Hills duplex contains 3,376 square feet, with each side offering 1,688 square feet, four bedrooms, and two full bathrooms. Both units include one-car garages, additional driveway parking, private backyards with paved patios, washer and dryer hookups, wood-burning fireplaces, and balconies with city views.
The property is located near bike paths, parks, shopping, Lane Community College, and the University of Oregon. Its two-unit configuration and residential setting provide a straightforward income-property layout with substantial living areas on each side.
The property is located near bike paths, parks, shopping, Lane Community College, and the University of Oregon. Its two-unit configuration and residential setting provide a straightforward income-property layout with substantial living areas on each side.
Key Highlights
- Two‑unit property with 3,376 square feet total
- Each unit includes 4 bedrooms, 2 full baths, and 1,688 square feet
- One‑car garage per side plus additional driveway parking
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
$30,278
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
3.57%
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%
$605,560
$605.6K
Cap Rate 7%
$432,543
$432.5K
Cap Rate 9%
$336,422
$336.4K
Market Conditions
NOI Build-Up for 3,376 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
$43.8K $12.96/SF
− Vacancy
−$499 −$0.15/SF
EGI
$43.3K $12.81/SF
− OpEx
−$13.0K −$3.84/SF
NOI
$30.3K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$605,560
Cap Rate 7%
$432,543
Cap Rate 9%
$336,422
Alternative Uses
Best Use
Multifamily LT 5
$432.5K
$378.5K – $504.6K
NOI $30,278 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$377.4K
$330.2K – $440.3K
NOI $26,417 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,301 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
Median Home Value
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 - South Hills duplex with garages, patios, fireplaces, and access to parks, shopping, bike paths, and nearby higher education.
Where is this duplex located?
The property is located at 3585 Emerald St Eugene, OR.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑unit property with 3,376 square feet total; Each unit includes 4 bedrooms, 2 full baths, and 1,688 square feet; One‑car garage per side plus additional driveway parking
