Single-Level
For Sale
$750,000
516 SE Centennial Street, Bend, OR 97702
Three month-to-month residences include a mix of two- and three-bedroom floor plans.
Property Size2,496 SF
Lot Size0.22 Acres
Price / SF$300.48
Days on Market10
Property Features for 516 SE Centennial Street
General Information
Standard status
Active
Size
2,496 SF
Lot size
0.22 Acres
Property subtype
Residential Income
Zoning
RM
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Opportunity Zone
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,831
Amenities
Solid Surface Counters
Shower/Tub Combo
Building Details
Building Size
2,496 SF
Year Built
1976
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Cascade Hasson SIR
(541) 383-7600
Listed By:
Mark Ryan Garcia · License #201203165
(541) 408-3781
Source:
Desertskyrealestate
Added: Oct 15
Changed: Oct 23
Last Checked: Oct 23 at 6:09PM
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 Cascade Hasson SIR
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Investment Insights
Based on property information with market context.
This 2,496-square-foot triplex contains three single-level residences: one with three bedrooms and one bathroom, and two with two bedrooms and one bathroom. Two units have been remodeled. Improvements include replacement windows throughout, exterior paint, a roof installed in 2016, and carport roofs scheduled for 2026. The units are leased month-to-month.
The property occupies a 0.22-acre RM-zoned lot in Bend’s East Bend Opportunity Zone. Tenants pay electricity, while the owner covers water and sewer. The property has no HOA or CC&Rs.
The property occupies a 0.22-acre RM-zoned lot in Bend’s East Bend Opportunity Zone. Tenants pay electricity, while the owner covers water and sewer. The property has no HOA or CC&Rs.
Key Highlights
- Three units: one 3‑bedroom/1‑bath and two 2‑bedroom/1‑bath residences
- 2,496 square feet on a 0.22‑acre RM‑zoned lot
- Two units remodeled; replacement windows throughout and fresh exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,015
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,300
$700.3K
Cap Rate 7%
$500,214
$500.2K
Cap Rate 9%
$389,056
$389.1K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$53.9K $21.60/SF
− Vacancy
−$3.9K −$1.56/SF
EGI
$50.0K $20.04/SF
− OpEx
−$15.0K −$6.01/SF
NOI
$35.0K $14.03/SF
Area
Bend, OR
Vacancy
7.22%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,300
Cap Rate 7%
$500,214
Cap Rate 9%
$389,056
Alternative Uses
Best Use
Multifamily LT 5
$500.2K
$437.7K – $583.6K
NOI $35,015 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$456.6K
$399.6K – $532.8K
NOI $31,965 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.08M
$943.5K – $1.26M
NOI $75,479 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
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Business Placement
Demographics for 97702, OR
51,161
Population
23,318
Households
2.2
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
103.5 sq mi
ZIP Area
494
Density / Sq Mi
$89,094
Median Household Income
$47,743
Median Earnings
$1,825
Median Rent
$620,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three month-to-month residences include a mix of two- and three-bedroom floor plans.
Where is this triplex located?
The property is located at 516 SE Centennial Street Bend, OR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three units: one 3‑bedroom/1‑bath and two 2‑bedroom/1‑bath residences; 2,496 square feet on a 0.22‑acre RM‑zoned lot; Two units remodeled; replacement windows throughout and fresh exterior paint
