Updated Triplex with Three
For Sale
$899,000
61538 Brosterhous Road, Bend, OR 97702
Three distinct units are fully leased and include refrigerators, ranges, washers, and dryers.
Property Size3,020 SF
Price / SF$297.68
Days on Market745
Property Features for 61538 Brosterhous Road
General Information
Standard status
Active
Size
3,020 SF
Property subtype
Multi Family
Occupancy
100%
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Land Use
residential
Taxes and HOA fees
Annual Taxes
$3,578
Amenities
wood burning stove
fireplace
deck
Building Details
Year Built
1962
Listing Agency:
Keller Williams Realty C.O.
(541) 788-0612
Listed By:
Melodee Radcliffe · License #201211946
(541) 788-0612
Source:
Exitrealty
Added: Aug 17, 2024
Changed: Aug 29
Last Checked: Aug 30 at 4:20PM
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 C.O.
Investment Insights
Based on property information with market context.
This 3,020-square-foot triplex at 61538 Brosterhous Road includes three separately configured units. Unit A offers three bedrooms, one bathroom, an upstairs position, and a fenced area. Unit B includes two bedrooms, two bathrooms, and a fenced yard. Unit C is a ground-floor studio with one bathroom and a fenced area. Refrigerators, ranges, washers, and dryers are included, along with one wood-burning stove and two fireplaces.
The property occupies a corner lot in Bend and provides on-site parking. It is connected to city water and sewer and has two power meters. Exterior paint was added in 2020, the roof was replaced in 2018, and power upgrades were completed in 2023 for Units A and C. Light renovations were made throughout, including a new deck for Unit B. The property is fully leased and includes room described for potential expansion.
The property occupies a corner lot in Bend and provides on-site parking. It is connected to city water and sewer and has two power meters. Exterior paint was added in 2020, the roof was replaced in 2018, and power upgrades were completed in 2023 for Units A and C. Light renovations were made throughout, including a new deck for Unit B. The property is fully leased and includes room described for potential expansion.
Key Highlights
- 3,020 SF triplex built in 1962
- Unit mix includes 3 bed/1 bath, 2 bed/2 bath, and studio/1 bath units
- New exterior paint 2020; roof replaced 2018
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
$42,366
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
4.71%
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%
$847,320
$847.3K
Cap Rate 7%
$605,229
$605.2K
Cap Rate 9%
$470,733
$470.7K
Market Conditions
NOI Build-Up for 3,020 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
$65.2K $21.60/SF
− Vacancy
−$4.7K −$1.56/SF
EGI
$60.5K $20.04/SF
− OpEx
−$18.2K −$6.01/SF
NOI
$42.4K $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%
$847,320
Cap Rate 7%
$605,229
Cap Rate 9%
$470,733
Alternative Uses
Best Use
Multifamily LT 5
$605.2K
$529.6K – $706.1K
NOI $42,366 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$552.5K
$483.5K – $644.6K
NOI $38,676 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,325 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
929
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?
Triplex - Three distinct units are fully leased and include refrigerators, ranges, washers, and dryers.
Where is this triplex located?
The property is located at 61538 Brosterhous Road Bend, OR.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 3,020 SF triplex built in 1962; Unit mix includes 3 bed/1 bath, 2 bed/2 bath, and studio/1 bath units; New exterior paint 2020; roof replaced 2018
