Triplex with Updated
For Sale
$525,000
365 NE Loper Avenue, Prineville, OR 97754
Residential Income, Prineville, OR
Property Size2,644 SF
Lot Size0.24 Acres
Price / SF$198.56
Days on Market174
Property Features for 365 NE Loper Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R1; Limited Residential
Parking features
Carport
Patio and Porch features
Deck
Interior features
Laminate Counters, Pantry, Vaulted Ceiling(s)
Appliances
Dishwasher, Disposal, Microwave, Oven, Range, Refrigerator, Water Heater
View
Territorial
Elementary school
Crooked River Elem
Middle school
Crook County Middle
High school
Crook County High
Standard status
Active
APN
7495
Size
2,644 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3765
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Amenities
washer dryer hookups
Building Details
Year built
1994
Floors in Building
3
Number of units
3
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
RE/MAX Key Properties · RE/MAX International
(541) 728-0033
Listed By:
Michelle Rene Tisdel · License #200502413
(541) 390-3490
Added: Mar 25
Changed: Aug 30
Last Checked: Sep 14 at 5:06AM
MLS# 220217862
Copyright © 2026 Oregon Data Share. 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 2,644-square-foot triplex, built in 1994, contains three residential units on a 0.24-acre fenced lot. Two units offer two bedrooms and 1.5 bathrooms with vaulted ceilings, while the third includes one bedroom and one bathroom. Washer and dryer hookups are provided in every unit, and the property includes a two-car carport plus deck space.
Recent capital improvements include a composition roof installed within the past 3 years and exterior painting completed within the past 5 years. Interior features include laminate counters, pantry storage, carpet and vinyl flooring, and electric baseboard heating. Public water and public sewer serve the property at 365 NE Loper Avenue in Prineville, Oregon.
Recent capital improvements include a composition roof installed within the past 3 years and exterior painting completed within the past 5 years. Interior features include laminate counters, pantry storage, carpet and vinyl flooring, and electric baseboard heating. Public water and public sewer serve the property at 365 NE Loper Avenue in Prineville, Oregon.
Key Highlights
- 2,644‑square‑foot triplex on a 0.24‑acre fenced lot
- Unit mix includes two 2‑bedroom, 1.5‑bath units and one 1‑bedroom, 1‑bath unit
- Composition roof installed within the past 3 years
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
$37,091
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
7.06%
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%
$741,820
$741.8K
Cap Rate 7%
$529,871
$529.9K
Cap Rate 9%
$412,122
$412.1K
Market Conditions
NOI Build-Up for 2,644 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
$57.1K $21.60/SF
− Vacancy
−$4.1K −$1.56/SF
EGI
$53.0K $20.04/SF
− OpEx
−$15.9K −$6.01/SF
NOI
$37.1K $14.03/SF
Area
Crook County, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$741,820
Cap Rate 7%
$529,871
Cap Rate 9%
$412,122
Alternative Uses
Best Use
Multifamily LT 5
$529.9K
$463.6K – $618.2K
NOI $37,091 @ 7.0% cap · market cap 7.06%
Second Best
Apartment 5plus
$483.7K
$423.3K – $564.4K
NOI $33,861 @ 7.0% cap · market cap 6.45%
Theoretical Best
Specialty Retail
$1.14M
$999.4K – $1.33M
NOI $79,955 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units occupy a fenced lot with covered parking, individual laundry hookups, and outdoor deck space.
Where is this triplex located?
The property is located at 365 NE Loper Avenue Prineville, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,644‑square‑foot triplex on a 0.24‑acre fenced lot; Unit mix includes two 2‑bedroom, 1.5‑bath units and one 1‑bedroom, 1‑bath unit; Composition roof installed within the past 3 years
