Two-Unit Duplex with
New
For Sale
$489,000
592 S Cliffside Ln, Prineville, OR 97754
Each residence includes en suite bedrooms, private laundry, garage parking, and additional off-street parking.
Property Size2,400 SF
Price / SF$203.75
Days on Market4
Property Features for 592 S Cliffside Ln
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Amenities
laundry
Building Details
Year Built
2007
Listing Agency:
Keller Williams Realty Central Oregon
Listed By:
Brady Velikonia
Source:
Portlandoregonhomelistings
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 6:31PM
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 Keller Williams Realty Central Oregon
Investment Insights
Based on property information with market context.
This 2,400-square-foot duplex, built in 2007, contains two residences measuring 1,200 square feet each. Both units offer two bedrooms, 2.5 baths, en suite bedrooms, laundry equipment, a one-car garage, and additional off-street parking. Recent property updates include a new roof and fresh exterior paint completed within the last two years.
The property is located at 592 S Cliffside Ln in Prineville, near Meadow Lakes golf course. Both units are currently occupied and professionally managed. Tenants pay all utilities other than landscaping. The duplex occupies its own tax lot and has no HOA or CC&Rs.
The property is located at 592 S Cliffside Ln in Prineville, near Meadow Lakes golf course. Both units are currently occupied and professionally managed. Tenants pay all utilities other than landscaping. The duplex occupies its own tax lot and has no HOA or CC&Rs.
Key Highlights
- Two‑unit duplex totaling 2,400 square feet; each residence is 1,200 sq ft
- Each unit includes 2 bedrooms, 2.5 baths, and en suite bedrooms
- One‑car garage per unit plus additional off‑street parking
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
$33,668
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
6.89%
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%
$673,360
$673.4K
Cap Rate 7%
$480,971
$481.0K
Cap Rate 9%
$374,089
$374.1K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$3.7K −$1.56/SF
EGI
$48.1K $20.04/SF
− OpEx
−$14.4K −$6.01/SF
NOI
$33.7K $14.03/SF
Area
Crook County, 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 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%
$673,360
Cap Rate 7%
$480,971
Cap Rate 9%
$374,089
Alternative Uses
Best Use
Multifamily LT 5
$481.0K
$420.9K – $561.1K
NOI $33,668 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$439.1K
$384.2K – $512.3K
NOI $30,736 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$1.04M
$907.2K – $1.21M
NOI $72,576 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
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 - Each residence includes en suite bedrooms, private laundry, garage parking, and additional off-street parking.
Where is this duplex located?
The property is located at 592 S Cliffside Ln Prineville, OR.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,400 square feet; each residence is 1,200 sq ft; Each unit includes 2 bedrooms, 2.5 baths, and en suite bedrooms; One‑car garage per unit plus additional off‑street parking
