Single-Level
New
For Sale
$475,000
421 TOLIVER Rd, Molalla, OR 97038
MultiFamily, Molalla, OR
Property Size1,560 SF
Lot Size0.18 Acres
Price / SF$304.49
Days on Market4
Property Features for 421 TOLIVER Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2
Elementary school
Molalla
Middle school
Molalla River
High school
Molalla
Directions
N Molalla Ave to W on Toliver RD. Home will be on the R
Subdivision
_146
Standard status
Active
APN
01089672
Size
1,560 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
359 TOLIVER ACRES PT LT 3
Tax Annual Amount
3656
Legal Description
359 TOLIVER ACRES PT LT 3
Utilities
Heating system
Zoned
Amenities
completely fenced backyards
patios
storage sheds
updated countertops
laundry hook ups
separate driveways
wide parking spaces
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Legacy Realty Group
(503) 496-5190
Listed By:
Robert Young · License #871100150
(503) 890-5863
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 17 at 7:06AM
MLS# 120522467
Copyright © 2026 Regional Multiple Listing Services. 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 one-level duplex contains 1,560 square feet arranged as two mirror-image units. Each residence includes 2 bedrooms and 1 bathroom, along with updated countertops and laundry hookups. Both units have fully fenced backyards, patios, storage sheds, separate driveways, and wide parking spaces. Zoned R3, the property was built in 1978 and uses zoned heating.
The 0.18-acre parcel also features a composition roof installed in 2016. The configuration provides separate outdoor areas and parking for each residence while maintaining a consistent layout across the building.
The 0.18-acre parcel also features a composition roof installed in 2016. The configuration provides separate outdoor areas and parking for each residence while maintaining a consistent layout across the building.
Key Highlights
- Two‑unit, one‑level duplex with 1,560 square feet
- Each unit has 2 bedrooms and 1 bathroom
- Both residences include fully fenced backyards and patios
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
$20,030
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
4.22%
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%
$400,600
$400.6K
Cap Rate 7%
$286,143
$286.1K
Cap Rate 9%
$222,556
$222.6K
Market Conditions
NOI Build-Up for 1,560 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
$38.4K $24.60/SF
− Vacancy
−$2.0K −$1.25/SF
EGI
$36.4K $23.35/SF
− OpEx
−$16.4K −$10.51/SF
NOI
$20.0K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$400,600
Cap Rate 7%
$286,143
Cap Rate 9%
$222,556
Alternative Uses
Best Use
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,030 @ 7.0% cap · market cap 4.22%
Second Best
Multifamily LT 5
$279.9K
$244.9K – $326.6K
NOI $19,595 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$421.1K
$368.5K – $491.3K
NOI $29,476 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 97038, OR
17,173
Population
6,423
Households
2.7
Avg Household Size
38
Median Age
20%
College-Educated
90%
High-School Grad
130.8 sq mi
ZIP Area
131
Density / Sq Mi
$87,585
Median Household Income
$45,681
Median Earnings
$1,497
Median Rent
$452,200
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?
Duplex - Two matching residences offer private outdoor areas, patios, storage sheds, and separate driveways.
Where is this duplex located?
The property is located at 421 TOLIVER Rd Molalla, OR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit, one‑level duplex with 1,560 square feet; Each unit has 2 bedrooms and 1 bathroom; Both residences include fully fenced backyards and patios
