Restored Historic
For Sale
$450,000
655 Monroe Street, Eugene, OR 97402
C-2-zoned property with a remodeled lower unit and a separate long-term residential tenancy.
Property Size2,424 SF
Price / SF$185.64
Days on Market211
Property Features for 655 Monroe Street
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Multi Family
Zoning
C-2
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,470
Amenities
2
Finished, Storage Space
Concrete Perimeter
Composition
Wood Siding
Building Details
Year Built
1890
Buildings
1
Construction
Queen Anne
Tenancy
Multi
Listing Agency:
Real Broker
Listed By:
Daniel Gandee · License #201235300
(458) 209-0163
Source:
Compass
Added: Mar 20
Changed: Oct 16
Last Checked: Oct 16 at 11:14AM
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 Real Broker
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Investment Insights
Based on property information with market context.
Built in 1890, this 2,424 SF Queen Anne duplex combines preserved architectural character with substantial interior improvements. The lower residence offers three bedrooms and one bathroom following a comprehensive remodel that includes new flooring, interior paint, trim, lighting, hardware, cabinetry, solid surface countertops, tile backsplash, stainless steel appliances, and updated bathroom finishes. Furnishings are negotiable.
The upper residence contains one bedroom and one bathroom and is occupied by a long-term tenant. The lower unit operates as a short-term rental, creating two distinct residential configurations within the property. C-2 zoning is documented for the site. The address is near Sweet Life, the Beer Garden, parks, and downtown Eugene.
The upper residence contains one bedroom and one bathroom and is occupied by a long-term tenant. The lower unit operates as a short-term rental, creating two distinct residential configurations within the property. C-2 zoning is documented for the site. The address is near Sweet Life, the Beer Garden, parks, and downtown Eugene.
Key Highlights
- 2,424 SF duplex built in 1890
- Two units: 3‑bedroom/1‑bath lower residence and 1‑bedroom/1‑bath upper residence
- Lower unit remodeled with new flooring, cabinetry, countertops, appliances, lighting, and bathroom finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,740
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,800
$434.8K
Cap Rate 7%
$310,571
$310.6K
Cap Rate 9%
$241,556
$241.6K
Market Conditions
NOI Build-Up for 2,424 SF
Gross rent
$31.4K $12.96/SF
− Vacancy
−$358 −$0.15/SF
EGI
$31.1K $12.81/SF
− OpEx
−$9.3K −$3.84/SF
NOI
$21.7K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,800
Cap Rate 7%
$310,571
Cap Rate 9%
$241,556
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.3K
NOI $21,740 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$271.0K
$237.1K – $316.1K
NOI $18,968 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,061
Businesses Nearby
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Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - C-2-zoned property with a remodeled lower unit and a separate long-term residential tenancy.
Where is this duplex located?
The property is located at 655 Monroe Street Eugene, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,424 SF duplex built in 1890; Two units: 3‑bedroom/1‑bath lower residence and 1‑bedroom/1‑bath upper residence; Lower unit remodeled with new flooring, cabinetry, countertops, appliances, lighting, and bathroom finishes
