Duplex with
For Sale
$249,000
646 SE 8th Street, Toledo, OR 97391
Residential Income, Toledo, OR
Property Size1,700 SF
Lot Size0.11 Acres
Price / SF$146.47
Days on Market61
Property Features for 646 SE 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-G Residential, General
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking
3
Parking features
Off Street, Tandem, Driveway, On Street
Patio and Porch features
Porch
Pets allowed
Yes
Exterior features
Garden
Fencing
Chain Link
Appliances
Electric Range, Refrigerator, Water Heater, Electric Range, Refrigerator, Water Heater
Subdivision
Vincent's
Lot features
Level, Gentle Sloping
Directions
OR-20, East on NW st, follow to SE Butler Bridge Rd, Left in Fir St to left on 8th.end of street on R
Standard status
Active
APN
111017CA-4500-00
Size
1,700 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1722
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1938
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Fiber Cement
Roof type
Composition
Architectural style
Cottage
Listing Agency:
Realty One Group At The Beach, Newport
(503) 990-7137
Listed By:
Samantha McClain · License #201235872
(503) 318-3020
Added: Aug 5
Changed: Oct 3
Last Checked: Oct 4 at 4:06PM
MLS# 26-2168
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,700-square-foot duplex contains two occupied units: one with two bedrooms and one with a single bedroom, each with one bathroom. Built in 1938, the cottage-style property has fiber-cement exterior, vinyl and carpet flooring, and electric baseboard heat. A garden, porch, chain-link fencing, and tandem driveway parking are among the site features.
The property occupies a 0.11-acre lot and is zoned R-G Residential, General. Public water and sewer serve the site. The reported cap rate is 10%.
The property occupies a 0.11-acre lot and is zoned R-G Residential, General. Public water and sewer serve the site. The reported cap rate is 10%.
Key Highlights
- Two occupied units: one 2‑bedroom, 1‑bath residence and one 1‑bedroom, 1‑bath residence
- 1,700 square feet on a 0.11‑acre lot
- Reported 10% cap rate
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
$15,844
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
6.36%
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%
$316,880
$316.9K
Cap Rate 7%
$226,343
$226.3K
Cap Rate 9%
$176,044
$176.0K
Market Conditions
NOI Build-Up for 1,700 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
$23.5K $13.80/SF
− Vacancy
−$826 −$0.49/SF
EGI
$22.6K $13.31/SF
− OpEx
−$6.8K −$3.99/SF
NOI
$15.8K $9.32/SF
Area
Lincoln County, OR
Vacancy
3.52%
Lease Rate
$13.80 /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%
$316,880
Cap Rate 7%
$226,343
Cap Rate 9%
$176,044
Alternative Uses
Best Use
Multifamily LT 5
$226.3K
$198.1K – $264.1K
NOI $15,844 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$208.4K
$182.3K – $243.1K
NOI $14,587 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$443.4K
$388.0K – $517.3K
NOI $31,039 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 97391, OR
5,610
Population
2,478
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
115.3 sq mi
ZIP Area
49
Density / Sq Mi
$57,793
Median Household Income
$35,241
Median Earnings
$1,046
Median Rent
$355,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer a two-bedroom layout and a separate one-bedroom unit.
Where is this duplex located?
The property is located at 646 SE 8th Street Toledo, OR.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two occupied units: one 2‑bedroom, 1‑bath residence and one 1‑bedroom, 1‑bath residence; 1,700 square feet on a 0.11‑acre lot; Reported 10% cap rate
