Furnished
For Sale
$1,295,000
710 North Elliott Road, Newberg, OR 97132
Four-unit residential income property with furnished interiors and access to Highway 99 in Newberg.
Property Size4,384 SF
Price / SF$295.39
Days on Market226
Property Features for 710 North Elliott Road
General Information
Standard status
Active
Size
4,384 SF
Total Parking Spaces
10
Property subtype
Multi Family
Zoning
R2
Additional Details
Furnished
Yes
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,481
Amenities
2
Concrete Perimeter
Composition
Cement Siding, Lap Siding
Building Details
Year Built
1998
Listing Agency:
Bella Casa Real Estate Group
(503) 437-9005
Listed By:
Brent Peterson · License #201224718
(503) 437-9005
Source:
Compass
Added: Jan 18
Changed: Aug 30
Last Checked: Aug 30 at 4:50PM
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 Bella Casa Real Estate Group
Investment Insights
Based on property information with market context.
This 4,384-square-foot quadplex contains four residential units and was built in 1998. The property is furnished and includes concrete perimeter construction, cement and lap siding, and a composition exterior finish. R2 zoning supports its multifamily classification.
Located at 710 North Elliott Road in Newberg, the property is near George Fox University and offers convenient access to Highway 99. Financial information is available upon request.
Located at 710 North Elliott Road in Newberg, the property is near George Fox University and offers convenient access to Highway 99. Financial information is available upon request.
Key Highlights
- Four‑unit quadplex totaling 4,384 SF
- Furnished residential units
- R2 zoning
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
$56,290
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
4.35%
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%
$1,125,800
$1.1M
Cap Rate 7%
$804,143
$804.1K
Cap Rate 9%
$625,444
$625.4K
Market Conditions
NOI Build-Up for 4,384 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
$107.8K $24.60/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$102.3K $23.35/SF
− OpEx
−$46.1K −$10.51/SF
NOI
$56.3K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,125,800
Cap Rate 7%
$804,143
Cap Rate 9%
$625,444
Alternative Uses
Best Use
Apartment 5plus
$804.1K
$703.6K – $938.2K
NOI $56,290 @ 7.0% cap · market cap 4.35%
Second Best
Multifamily LT 5
$690.0K
$603.7K – $805.0K
NOI $48,298 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,834 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 97132, OR
32,028
Population
12,411
Households
2.6
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
62.6 sq mi
ZIP Area
512
Density / Sq Mi
$95,150
Median Household Income
$46,005
Median Earnings
$1,567
Median Rent
$498,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with furnished interiors and access to Highway 99 in Newberg.
Where is this quadplex located?
The property is located at 710 North Elliott Road Newberg, OR.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 4,384 SF; Furnished residential units; R2 zoning
