Updated Duplex with Vintage
New
For Sale
$780,000
515 FULVUE DR, Eugene, OR 97405
Two-level layout includes a separate lower-level entry, kitchen, bathroom, fireplace, and garage access.
Property Size2,829 SF
Days on Market3
Property Features for 515 FULVUE DR
General Information
Standard status
Active
Size
2,829 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$7,429
Building Details
Building Size
2,829 SF
Year Built
1937
Listing Agency:
HomeSmart Realty Group
Listed By:
Lauren Berg
(541) 799-5454
Source:
Worthlandrealestate
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:43PM
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 HomeSmart Realty Group
Investment Insights
Based on property information with market context.
Built in 1937, this Eugene duplex combines period character with updated interior finishes. The main residence features hardwood flooring, granite countertops, stainless steel appliances, and substantial natural light. A lower-level living area provides its own garage entrance, full kitchen, bathroom, and fireplace, supporting separation between the two spaces.
Located at 515 Fulvue Dr in South Eugene, the property is near parks, trails, shopping, and schools. The home also offers views and a residential setting with convenient access to nearby daily amenities.
Located at 515 Fulvue Dr in South Eugene, the property is near parks, trails, shopping, and schools. The home also offers views and a residential setting with convenient access to nearby daily amenities.
Key Highlights
- Duplex at 515 Fulvue Dr in Eugene, OR 97405
- Built in 1937
- Main residence includes hardwood floors, granite countertops, and stainless steel appliances
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
$25,372
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
3.25%
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%
$507,440
$507.4K
Cap Rate 7%
$362,457
$362.5K
Cap Rate 9%
$281,911
$281.9K
Market Conditions
NOI Build-Up for 2,829 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
$36.7K $12.96/SF
− Vacancy
−$418 −$0.15/SF
EGI
$36.2K $12.81/SF
− OpEx
−$10.9K −$3.84/SF
NOI
$25.4K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$507,440
Cap Rate 7%
$362,457
Cap Rate 9%
$281,911
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,372 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$316.2K
$276.7K – $369.0K
NOI $22,137 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$853.5K
$746.9K – $995.8K
NOI $59,748 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
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-level layout includes a separate lower-level entry, kitchen, bathroom, fireplace, and garage access.
Where is this duplex located?
The property is located at 515 FULVUE DR Eugene, OR.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Duplex at 515 Fulvue Dr in Eugene, OR 97405; Built in 1937; Main residence includes hardwood floors, granite countertops, and stainless steel appliances
