Triplex with Studio
For Sale
$384,500
415 Summit Ave, Medford, OR 97501
Corner-lot three-unit property with refreshed finishes and shared carport, patio, and yard.
Property Size1,804 SF
Price / SF$213.14
Days on Market17
Property Features for 415 Summit Ave
General Information
Standard status
Active
Size
1,804 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/1BA, 2 x studio
Multifamily Units
3
Amenities
front porch
yard
covered patio
shared carport
Building Details
Year Built
1943
Listing Agency:
RE/MAX Platinum
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Sep 2
Changed: Sep 17
Last Checked: Sep 16 at 6:51PM
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 RE/MAX Platinum
Investment Insights
Based on property information with market context.
Built in 1943, this 1,804-square-foot triplex combines a primary residence with studio units on a corner lot. The main house offers four bedrooms, one bathroom, 1,384 square feet, newer laminate flooring, fresh exterior paint, a front porch, and a front yard.
The studio units include newer flooring, kitchenettes, and private bathrooms. Shared exterior features include a carport, covered patio, and yard. The property is located at 415 Summit Ave in Medford, Oregon.
The studio units include newer flooring, kitchenettes, and private bathrooms. Shared exterior features include a carport, covered patio, and yard. The property is located at 415 Summit Ave in Medford, Oregon.
Key Highlights
- Three‑unit triplex positioned on a corner lot
- 1,804 square feet across the property
- Main house includes 4 bedrooms, 1 bathroom, and 1,384 square feet
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
$19,332
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
5.03%
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%
$386,640
$386.6K
Cap Rate 7%
$276,171
$276.2K
Cap Rate 9%
$214,800
$214.8K
Market Conditions
NOI Build-Up for 1,804 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
$29.2K $16.20/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$27.6K $15.31/SF
− OpEx
−$8.3K −$4.59/SF
NOI
$19.3K $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%
$386,640
Cap Rate 7%
$276,171
Cap Rate 9%
$214,800
Alternative Uses
Best Use
Multifamily LT 5
$276.2K
$241.7K – $322.2K
NOI $19,332 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$242.4K
$212.1K – $282.8K
NOI $16,967 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$435.4K
$381.0K – $508.0K
NOI $30,480 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
691
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
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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 - Corner-lot three-unit property with refreshed finishes and shared carport, patio, and yard.
Where is this triplex located?
The property is located at 415 Summit Ave Medford, OR.
What is the asking price?
The asking price for this property is $384,500.
What are key features of this property?
This property features: Three‑unit triplex positioned on a corner lot; 1,804 square feet across the property; Main house includes 4 bedrooms, 1 bathroom, and 1,384 square feet
