Duplex with Detached
For Sale
$375,000
402 Boardman Street, Medford, OR 97501
Two residences share a corner lot with separate utility metering and individually fenced yards.
Property Size2,192 SF
Days on Market25
Property Features for 402 Boardman Street
General Information
Standard status
Active
Size
2,192 SF
Property subtype
Residential Income
Zoning
Sfr-10
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,656
Amenities
individually fenced yards
Building Details
Building Size
2,192 SF
Year Built
1960
Buildings
2
Stories
1
Units
2
Listing Agency:
i5 Real Estate
(541) 500-9210
Listed By:
Armando Enciso Cervantes
(541) 500-9210
Source:
Allprofessionalsre
Added: Jul 18
Changed: Aug 11
Last Checked: Aug 11 at 4:38AM
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 i5 Real Estate
Investment Insights
Based on property information with market context.
This duplex property consists of two detached single-family residences situated on one tax lot. The home at 335 Alice Street contains 1,520 square feet, while the residence at 402 Boardman provides 672 square feet. Each dwelling has its own gas and electric meter, supporting separate utility management. The property was built in 1960 and has received updates that include a new roof, siding, interior painting, and flooring.
A corner-lot setting provides alley access and off-street parking. Each residence has a separately fenced yard. The zoning is Sfr-10. Existing tenants have expressed interest in remaining, and the two-home configuration supports rental use of both residences or occupancy of one home with the other rented.
A corner-lot setting provides alley access and off-street parking. Each residence has a separately fenced yard. The zoning is Sfr-10. Existing tenants have expressed interest in remaining, and the two-home configuration supports rental use of both residences or occupancy of one home with the other rented.
Key Highlights
- Two detached single‑family homes on one tax lot
- 1,520‑square‑foot residence at 335 Alice Street
- 672‑square‑foot residence at 402 Boardman
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
$23,490
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
6.26%
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%
$469,800
$469.8K
Cap Rate 7%
$335,571
$335.6K
Cap Rate 9%
$261,000
$261.0K
Market Conditions
NOI Build-Up for 2,192 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
$35.5K $16.20/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$33.6K $15.31/SF
− OpEx
−$10.1K −$4.59/SF
NOI
$23.5K $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%
$469,800
Cap Rate 7%
$335,571
Cap Rate 9%
$261,000
Alternative Uses
Best Use
Multifamily LT 5
$335.6K
$293.6K – $391.5K
NOI $23,490 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$294.5K
$257.7K – $343.6K
NOI $20,616 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$529.1K
$463.0K – $617.3K
NOI $37,036 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,427
Businesses Nearby
Explore this area
Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
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 - Two residences share a corner lot with separate utility metering and individually fenced yards.
Where is this duplex located?
The property is located at 402 Boardman Street Medford, OR.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two detached single‑family homes on one tax lot; 1,520‑square‑foot residence at 335 Alice Street; 672‑square‑foot residence at 402 Boardman
