Two-Unit Duplex with Attached
New
For Sale
$615,000
789 Whitham WAY, Harrisburg, OR 97446
Each residence features three bedrooms, two-and-a-half bathrooms, private outdoor space, and interior laundry.
Property Size3,154 SF
Price / SF$194.99
Days on Market4
Property Features for 789 Whitham WAY
General Information
Standard status
Active
Size
3,154 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Amenities
private backyard patio
brand-new fencing
interior laundry
storage shed
Building Details
Year Built
2007
Buildings
1
Listing Agency:
Handris Realty Company
Listed By:
Vicki Gile
(503) 539-5944
Source:
Gilegroup
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 16 at 5:23PM
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 Handris Realty Company
Investment Insights
Based on property information with market context.
Located at 789 Whitham WAY in Harrisburg, this 3,154-square-foot duplex was built in 2007 and contains two separate residences. Each side offers three bedrooms, two-and-a-half bathrooms, LVP flooring, spacious living areas, walk-in closets in two bedrooms, and a primary suite with a private bath. Interior laundry is positioned near the half bath, while forced-air heating and air conditioning serve both units.
Sliding doors connect each residence to its own fenced backyard patio area. Each unit also includes an attached two-car garage. The 789 side adds a 10-by-12 storage shed with power wiring. Recent property updates include a brand-new roof and fencing, providing additional functional improvements across the duplex.
Sliding doors connect each residence to its own fenced backyard patio area. Each unit also includes an attached two-car garage. The 789 side adds a 10-by-12 storage shed with power wiring. Recent property updates include a brand-new roof and fencing, providing additional functional improvements across the duplex.
Key Highlights
- 3,154‑square‑foot duplex at 789 Whitham WAY, Harrisburg, OR 97446
- Two units with 3 bedrooms and 2.5 bathrooms each
- Each residence includes an attached 2‑car garage
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
$29,773
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
4.84%
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%
$595,460
$595.5K
Cap Rate 7%
$425,329
$425.3K
Cap Rate 9%
$330,811
$330.8K
Market Conditions
NOI Build-Up for 3,154 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
$43.5K $13.80/SF
− Vacancy
−$992 −$0.31/SF
EGI
$42.5K $13.49/SF
− OpEx
−$12.8K −$4.05/SF
NOI
$29.8K $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 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%
$595,460
Cap Rate 7%
$425,329
Cap Rate 9%
$330,811
Alternative Uses
Best Use
Multifamily LT 5
$425.3K
$372.2K – $496.2K
NOI $29,773 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$391.8K
$342.9K – $457.1K
NOI $27,428 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$918.8K
$804.0K – $1.07M
NOI $64,317 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence features three bedrooms, two-and-a-half bathrooms, private outdoor space, and interior laundry.
Where is this duplex located?
The property is located at 789 Whitham WAY Harrisburg, OR.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 3,154‑square‑foot duplex at 789 Whitham WAY, Harrisburg, OR 97446; Two units with 3 bedrooms and 2.5 bathrooms each; Each residence includes an attached 2‑car garage
