Updated Duplex with Private
New
For Sale
$700,000
373 Iowa St, Ashland, OR 97520
Renovated duplex with separate garages, fenced backyards, fireplaces, and landscaped grounds.
Property Size2,345 SF
Price / SF$298.51
Days on Market3
Property Features for 373 Iowa St
General Information
Standard status
Active
Size
2,345 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
wood-burning fireplace
private fenced backyards
professionally landscaped grounds
boulder-lined paths
drip irrigation
gravel patios
Building Details
Year Built
1977
Year Renovated
2022
Buildings
1
Listing Agency:
Home and Land Real Estate
(541) 301-7980
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 3:23PM
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 Home and Land Real Estate
Investment Insights
Based on property information with market context.
This 2,345-square-foot duplex, built in 1977, was substantially renovated between 2019 and 2022. Improvements include Daikin mini-split systems, double-pane vinyl windows with shutters, LVP flooring, updated trim and lighting, refreshed bathrooms, appliances, and new interior and exterior paint. Each residence has a wood-burning fireplace with a stacked-stone surround, two or three bedrooms, and one-and-a-half or two full bathrooms.
Both units offer private fenced backyards and alley access to separate one-car garages. The grounds feature mature plantings, fig and mimosa trees, boulder-edged walkways, drip irrigation, and gravel patios finished with corten steel edging. The property is within an eight-minute walk of the Ashland Public Library.
Both units offer private fenced backyards and alley access to separate one-car garages. The grounds feature mature plantings, fig and mimosa trees, boulder-edged walkways, drip irrigation, and gravel patios finished with corten steel edging. The property is within an eight-minute walk of the Ashland Public Library.
Key Highlights
- 2,345‑square‑foot duplex built in 1977
- Renovations completed from 2019 to 2022
- Each unit has a wood‑burning fireplace and private fenced backyard
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
$25,130
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
3.59%
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%
$502,600
$502.6K
Cap Rate 7%
$359,000
$359.0K
Cap Rate 9%
$279,222
$279.2K
Market Conditions
NOI Build-Up for 2,345 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
$38.0K $16.20/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$35.9K $15.31/SF
− OpEx
−$10.8K −$4.59/SF
NOI
$25.1K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /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%
$502,600
Cap Rate 7%
$359,000
Cap Rate 9%
$279,222
Alternative Uses
Best Use
Multifamily LT 5
$359.0K
$314.1K – $418.8K
NOI $25,130 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.6K
NOI $22,055 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$566.0K
$495.3K – $660.4K
NOI $39,621 @ 7.0% cap · market cap 5.66%
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
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with separate garages, fenced backyards, fireplaces, and landscaped grounds.
Where is this duplex located?
The property is located at 373 Iowa St Ashland, OR.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,345‑square‑foot duplex built in 1977; Renovations completed from 2019 to 2022; Each unit has a wood‑burning fireplace and private fenced backyard
