Two-Story Duplex with Mountain
For Sale
$349,000
704 NW 4th St, Pendleton, OR 97801
Each unit includes a kitchen with dishwasher, laundry hookups, forced-air heating and cooling, and a deck.
Property Size2,416 SF
Price / SF$144.45
Days on Market16
Property Features for 704 NW 4th St
General Information
Standard status
Active
Size
2,416 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$28,800
Utilities to Site
Yes
Amenities
dishwasher
laundry hookups
forced air heating and cooling
deck
off-street parking
Building Details
Year Built
1979
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Farley Company
(541) 276-0021
Listed By:
Jef Farley · License #910300054
Source:
Christiesrealestateevg
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 31 at 7:19PM
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 Coldwell Banker Farley Company
Investment Insights
Based on property information with market context.
Built in 1979, this two-story duplex contains two residential units, each with 2 bedrooms, 1 bath, and 1,208 square feet (m/l). Both residences feature kitchens with built-in dishwashers, laundry hookups, forced-air heating and cooling, and deck access. Off-street parking serves the property.
The upper unit has been remodeled and is expected to be vacant by the end of June. An unfinished basement or crawl area provides storage space and may offer additional development potential, subject to applicable requirements. Located at 704 NW 4th St in Pendleton, the property includes views toward downtown and the Blue Mountains.
The upper unit has been remodeled and is expected to be vacant by the end of June. An unfinished basement or crawl area provides storage space and may offer additional development potential, subject to applicable requirements. Located at 704 NW 4th St in Pendleton, the property includes views toward downtown and the Blue Mountains.
Key Highlights
- Two‑story duplex at 704 NW 4th St, Pendleton, OR 97801
- Each unit includes 2 bedroom, 1 bath, and 1,208 square feet (m/l)
- Property size: 2416 square feet; year built: 1979
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
$11,263
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
3.23%
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%
$225,260
$225.3K
Cap Rate 7%
$160,900
$160.9K
Cap Rate 9%
$125,144
$125.1K
Market Conditions
NOI Build-Up for 2,416 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
$17.4K $7.20/SF
− Vacancy
−$1.3K −$0.54/SF
EGI
$16.1K $6.66/SF
− OpEx
−$4.8K −$2.00/SF
NOI
$11.3K $4.66/SF
Area
Umatilla County, OR
Vacancy
7.50%
Lease Rate
$7.20 /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%
$225,260
Cap Rate 7%
$160,900
Cap Rate 9%
$125,144
Alternative Uses
Best Use
Multifamily LT 5
$160.9K
$140.8K – $187.7K
NOI $11,263 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$148.3K
$129.8K – $173.0K
NOI $10,381 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$505.8K
$442.5K – $590.1K
NOI $35,403 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Explore this area
Business Placement
Demographics for 97801, OR
21,882
Population
9,033
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
92%
High-School Grad
496.2 sq mi
ZIP Area
44
Density / Sq Mi
$73,308
Median Household Income
$38,719
Median Earnings
$924
Median Rent
$277,600
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?
Duplex - Each unit includes a kitchen with dishwasher, laundry hookups, forced-air heating and cooling, and a deck.
Where is this duplex located?
The property is located at 704 NW 4th St Pendleton, OR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑story duplex at 704 NW 4th St, Pendleton, OR 97801; Each unit includes 2 bedroom, 1 bath, and 1,208 square feet (m/l); Property size: 2416 square feet; year built: 1979
