Building Details

Year Built 1998

Listing Agency: Innovate Real Estate LLC Show Phone

Listed By: Nick Shivers Team | eXp Realty Show Phone

Source: Nickshivers

Added: Oct 23 Changed: Oct 31 Last Checked: Nov 1 at 5:51AM

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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 Innovate Real Estate LLC

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Investment Insights

Based on property information with market context.

Built in 1998, this duplex contains two 964-square-foot residences, each currently configured with one bedroom and additional bonus space. The property received new exterior paint, and the roof is newer.

The homes sit on a 0.62-acre lot at 785 S 6th ST in Harrisburg, Oregon. Both units can be shown with advance notice.

Key Highlights

• Two‑unit duplex with 964sf per residence
• Each unit currently has one bedroom and bonus space
• 0.62‑acre lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,200

Cap Rate

4.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$364,000 $364.0K

Cap Rate 7%

$260,000 $260.0K

Cap Rate 9%

$202,222 $202.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,928 SF

Gross rent

$26.6K $13.80/SF

− Vacancy

−$607 −$0.31/SF

EGI

$26.0K $13.49/SF

− OpEx

−$7.8K −$4.05/SF

NOI

$18.2K $9.44/SF

Area

Linn County, OR

Vacancy

2.28%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$364,000

Cap Rate 7%

$260,000

Cap Rate 9%

$202,222

Alternative Uses

Best Use

Multifamily LT 5

$260.0K

$227.5K – $303.3K (±1% cap)

NOI $18,200 @ 7.0% cap · market cap 4.80%

Second Best

Apartment 5plus

$239.5K

$209.6K – $279.4K (±1% cap)

NOI $16,766 @ 7.0% cap · market cap 4.42%

Theoretical Best

Office A

$561.7K

$491.5K – $655.3K (±1% cap)

NOI $39,316 @ 7.0% cap · market cap 10.37%

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

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

191

Businesses Nearby

Explore this area Business Placement

Demographics for 97446, OR

5,067

Population

1,887

Households

2.7

Avg Household Size

39

Median Age

16%

College-Educated

93%

High-School Grad

123.0 sq mi

ZIP Area

41

Density / Sq Mi

$72,065

Median Household Income

$44,363

Median Earnings

$1,172

Median Rent

$318,200

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?

Duplex - Each residence includes bonus space alongside its current one-bedroom layout.

Where is this duplex located?

The property is located at 785 S 6th ST Harrisburg, OR.

What is the asking price?

The asking price for this property is $379,000.

What are key features of this property?

This property features: Two‑unit duplex with 964sf per residence; Each unit currently has one bedroom and bonus space; 0.62‑acre lot