Building Details

Building Size 2,336 SF

Year Built 1977

Stories 1

Units 4

Listing Agency: eXp Realty, LLC a***@exprealty.net Show Phone

Listed By: China Rose · License #201218988 Show Phone

Source: Desertskyrealestate

Added: Sep 6, 2025 Changed: Oct 23 Last Checked: Oct 23 at 3:25PM

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Investment Insights

Based on property information with market context.

Four residential units occupy a 2.48-acre property in Cave Junction. The mix includes three cottages and a modular home: two cottages have one bedroom and one bathroom each, while the third has two bedrooms and one bathroom. The modular home also has two bedrooms and one bathroom and measures 1,056 square feet. One cottage has updated flooring and appliances.

The property is zoned RR5, Rural Res 5 Ac, and uses a shared well and two septic systems. All four tenancies are month-to-month. The site is off Hwy 199, next to a fire station.

Key Highlights

• Four residential units across 2.48 acres
• Unit mix: two 1‑bedroom/1‑bath cottages, one 2‑bedroom/1‑bath cottage, and a 2‑bedroom/1‑bath modular home
• Modular home measures 1,056 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,974

Cap Rate

6.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$379,480 $379.5K

Cap Rate 7%

$271,057 $271.1K

Cap Rate 9%

$210,822 $210.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,336 SF

Gross rent

$28.6K $12.24/SF

− Vacancy

−$1.5K −$0.64/SF

EGI

$27.1K $11.60/SF

− OpEx

−$8.1K −$3.48/SF

NOI

$19.0K $8.12/SF

Area

Josephine County, OR

Vacancy

5.20%

Lease Rate

$12.24 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$379,480

Cap Rate 7%

$271,057

Cap Rate 9%

$210,822

Alternative Uses

Best Use

Multifamily LT 5

$271.1K

$237.2K – $316.2K (±1% cap)

NOI $18,974 @ 7.0% cap · market cap 6.41%

Second Best

Apartment 5plus

$251.6K

$220.2K – $293.6K (±1% cap)

NOI $17,613 @ 7.0% cap · market cap 5.95%

Theoretical Best

Office A

$529.7K

$463.5K – $617.9K (±1% cap)

NOI $37,076 @ 7.0% cap · market cap 12.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

4

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

167

Businesses Nearby

Explore this area Business Placement

Demographics for 97523, OR

6,548

Population

3,606

Households

1.8

Avg Household Size

50

Median Age

18%

College-Educated

91%

High-School Grad

250.3 sq mi

ZIP Area

26

Density / Sq Mi

$45,960

Median Household Income

$27,227

Median Earnings

$1,239

Median Rent

$301,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four dwellings share a well and are served by two septic systems.

Where is this quadplex located?

The property is located at 701 Caves Highway Cave Junction, OR.

What is the asking price?

The asking price for this property is $295,900.

What are key features of this property?

This property features: Four residential units across 2.48 acres; Unit mix: two 1‑bedroom/1‑bath cottages, one 2‑bedroom/1‑bath cottage, and a 2‑bedroom/1‑bath modular home; Modular home measures 1,056 square feet