Renovated Duplex with Separate
New
For Sale
$355,000
635 Pennsylvania Ave, Medford, OR 97501
Two vacant residences offer separate entrances, individual power meters, and updated kitchens.
Property Size1,472 SF
Price / SF$241.17
Days on Market7
Property Features for 635 Pennsylvania Ave
General Information
Standard status
Active
Size
1,472 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Exp Realty, LLC
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Oct 24
Changed: Oct 28
Last Checked: Oct 28 at 8:34AM
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 Exp Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1920, this 1,472-square-foot duplex contains two vacant residences. One has two bedrooms, one bathroom, a covered patio, laundry area, and backyard; the other includes a large bedroom, full bathroom, kitchen, private side entrance, and laundry area. Each residence has its own power meter.
Recent work includes a new roof, interior and exterior paint, updated flooring and cabinetry, and remodeled kitchens with granite counters and some stainless appliances. The second residence also has new siding, windows, and doors. Gravel parking along the left side accommodates multiple vehicles, with possible RV parking.
Recent work includes a new roof, interior and exterior paint, updated flooring and cabinetry, and remodeled kitchens with granite counters and some stainless appliances. The second residence also has new siding, windows, and doors. Gravel parking along the left side accommodates multiple vehicles, with possible RV parking.
Key Highlights
- Two vacant residences totaling 1,472 square feet
- Separate power meters for each residence
- One residence has 2 bedrooms and 1 bathroom; the other has a large bedroom, full bathroom, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,774
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,480
$315.5K
Cap Rate 7%
$225,343
$225.3K
Cap Rate 9%
$175,267
$175.3K
Market Conditions
NOI Build-Up for 1,472 SF
Gross rent
$23.8K $16.20/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$22.5K $15.31/SF
− OpEx
−$6.8K −$4.59/SF
NOI
$15.8K $10.72/SF
Area
Jackson County, OR
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,480
Cap Rate 7%
$225,343
Cap Rate 9%
$175,267
Alternative Uses
Best Use
Multifamily LT 5
$225.3K
$197.2K – $262.9K
NOI $15,774 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$197.8K
$173.1K – $230.7K
NOI $13,844 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$355.3K
$310.9K – $414.5K
NOI $24,871 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
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Business Placement
Demographics for 97501, OR
47,519
Population
19,370
Households
2.5
Avg Household Size
37
Median Age
20%
College-Educated
90%
High-School Grad
45.3 sq mi
ZIP Area
1,049
Density / Sq Mi
$61,971
Median Household Income
$36,471
Median Earnings
$1,238
Median Rent
$325,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences offer separate entrances, individual power meters, and updated kitchens.
Where is this duplex located?
The property is located at 635 Pennsylvania Ave Medford, OR.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two vacant residences totaling 1,472 square feet; Separate power meters for each residence; One residence has 2 bedrooms and 1 bathroom; the other has a large bedroom, full bathroom, and kitchen
