Updated Duplex with Attached
New
For Sale
$699,000
61367 Sally Ln #1 & 2, Bend, OR 97702
Two distinct residences include fenced outdoor areas and a remodeled larger unit with flexible occupancy options.
Property Size2,495 SF
Price / SF$280.16
Days on Market4
Property Features for 61367 Sally Ln #1 & 2
General Information
Standard status
Active
Size
2,495 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 1BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced yards
Building Details
Year Built
2005
Listing Agency:
Home and Land Real Estate
Listed By:
Alice Lema, Principal Broker Home & Land
(541) 301-7980
Source:
Alicelema
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 8 at 6:01AM
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 Home and Land Real Estate
Investment Insights
Based on property information with market context.
This 2005 duplex contains 2,495 SF across two attached residences. Unit 1 offers 1,412 SF, three bedrooms, 2.5 baths, and a two-car attached garage; recent improvements include new countertops, interior paint, and laminate flooring. Unit 2 provides 1,083 SF with one bedroom, 1.5 baths, and a one-car attached garage. Each side has a fenced yard.
Unit 1 is available for occupancy, while Unit 2 is leased. The property is situated near the Old Mill District and approximately 10 minutes from downtown Bend, with access to the Bend Parkway. Nearby recreational context includes parks, theaters, mountain lakes, and rivers.
Unit 1 is available for occupancy, while Unit 2 is leased. The property is situated near the Old Mill District and approximately 10 minutes from downtown Bend, with access to the Bend Parkway. Nearby recreational context includes parks, theaters, mountain lakes, and rivers.
Key Highlights
- 2,495 SF duplex built in 2005
- Unit 1: 1,412 SF, 3 bedrooms, 2.5 baths, and a 2‑car attached garage
- Unit 2: 1,083 SF, 1 bedroom, 1.5 baths, and a 1‑car attached garage
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
$35,001
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
5.01%
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%
$700,020
$700.0K
Cap Rate 7%
$500,014
$500.0K
Cap Rate 9%
$388,900
$388.9K
Market Conditions
NOI Build-Up for 2,495 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
$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 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%
$700,020
Cap Rate 7%
$500,014
Cap Rate 9%
$388,900
Alternative Uses
Best Use
Multifamily LT 5
$500.0K
$437.5K – $583.4K
NOI $35,001 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$456.5K
$399.4K – $532.6K
NOI $31,953 @ 7.0% cap · market cap 4.57%
Theoretical Best
Specialty Retail
$1.08M
$943.1K – $1.26M
NOI $75,449 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
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
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 distinct residences include fenced outdoor areas and a remodeled larger unit with flexible occupancy options.
Where is this duplex located?
The property is located at 61367 Sally Ln #1 & 2 Bend, OR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,495 SF duplex built in 2005; Unit 1: 1,412 SF, 3 bedrooms, 2.5 baths, and a 2‑car attached garage; Unit 2: 1,083 SF, 1 bedroom, 1.5 baths, and a 1‑car attached garage
