Craftsman Triplex on Corner
For Sale
$385,000
415 Summit Avenue, Medford, OR 97501
MULTI_FAMILY - Craftsman - Medford, OR
Property Size1,804 SF
Lot Size0.11 Acres
Price / SF$213.41
Days on Market154
Property Features for 415 Summit Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Sfr-10
Parking features
On Street, Carport, Driveway
Window features
Vinyl Frames
Patio and Porch features
Deck, Patio
Interior features
Laminate Counters, Shower/Tub Combo, Tile Shower
Accessibility
Accessible Approach with Ramp
Appliances
Disposal, Oven, Range, Range Hood, Refrigerator, Water Heater
Lot features
Fenced, Garden, Landscaped, Level
View
Territorial
Elementary school
Jackson Elem
Middle school
McLoughlin Middle
High school
South Medford High
Standard status
Active
APN
10399168
Size
1,804 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2299
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
front porch
carport
covered patio
yard
Building Details
Year built
1943
Floors in Building
2
Number of units
3
Flooring type
Carpet, Vinyl, Laminate
Building materials
Frame
Roof type
Composition
Architectural style
Craftsman
Additional Structures
Storage
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Rutledge Property Group · License #201007081
(541) 778-9677
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 20 at 11:06AM
MLS# 220217596
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 Craftsman triplex at 415 Summit Avenue includes three units on a corner lot. The main house features four bedrooms, one bathroom, and 1,384 square feet, with newer laminate flooring and new exterior paint. It also has a nice front porch and a great front yard. The two studios each offer newer flooring, a kitchenette, and a private bathroom.
Shared outdoor features include a carport, a covered patio, and a yard. The property includes an accessible approach with a ramp, supporting easier entry and circulation. Interior finishes include laminate counters, a tile shower, and shower/tub combinations, along with appliances such as a disposal, oven, range, range hood, refrigerator, and water heater.
Built in 1943, the home is framed construction with a composition roof. Heating is natural gas forced air, and cooling is via window and wall/window unit(s). Public water and public sewer serve the property.
Shared outdoor features include a carport, a covered patio, and a yard. The property includes an accessible approach with a ramp, supporting easier entry and circulation. Interior finishes include laminate counters, a tile shower, and shower/tub combinations, along with appliances such as a disposal, oven, range, range hood, refrigerator, and water heater.
Built in 1943, the home is framed construction with a composition roof. Heating is natural gas forced air, and cooling is via window and wall/window unit(s). Public water and public sewer serve the property.
Key Highlights
- Three units on a corner lot
- Main house: 4 bedrooms, 1 bathroom, 1,384 SF with newer laminate flooring
- Two studios: newer flooring, kitchenette, and private bathroom
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
5.02%
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 5.02%
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 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit Craftsman property with a main house and two studios, offering newer finishes and carport parking.
Where is this triplex located?
The property is located at 415 Summit Avenue Medford, OR.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Three units on a corner lot; Main house: 4 bedrooms, 1 bathroom, 1,384 SF with newer laminate flooring; Two studios: newer flooring, kitchenette, and private bathroom
