Country Duplex with Pasture
For Sale
$799,900
87851 Cedar Flat Road, Springfield, OR 97478
Two-unit duplex with 5 and 4 bedrooms plus full baths, set on level usable pasture land.
Property Size3,584 SF
Price / SF$223.19
Days on Market201
Property Features for 87851 Cedar Flat Road
General Information
Standard status
Active
Size
3,584 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
RR5
Taxes and HOA fees
Annual Taxes
$3,202
Amenities
Cable
2
Crawl Space
Concrete Perimeter
Composition
Lap Siding, T111Siding
Building Details
Year Built
1997
Listing Agency:
RE/MAX Integrity
Listed By:
Michael Sims · License #910200151
(541) 345-8100
Source:
Compass
Added: Feb 18
Changed: Aug 8
Last Checked: Jul 22 at 11:46AM
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 RE/MAX Integrity
Investment Insights
Based on property information with market context.
This country duplex offers two separate living setups: one side features 5 bedrooms and 2 full baths, and the other side has 4 bedrooms and 2 full baths. The property also includes over a full acre of level, usable pasture land, which the current offering describes as suited for livestock, crops, and outbuildings.
The location is described as close-in, adjacent to the Cedar Flat community. Cedar Flat’s local restaurant, coffee shop, convenience store, and gas station are noted as within walking distance.
The listing reports gross annual income of $52,200, providing context for both investor and owner-occupant scenarios.
The location is described as close-in, adjacent to the Cedar Flat community. Cedar Flat’s local restaurant, coffee shop, convenience store, and gas station are noted as within walking distance.
The listing reports gross annual income of $52,200, providing context for both investor and owner-occupant scenarios.
Key Highlights
- Duplex with 2 stories and concrete perimeter foundation
- One side offers 5 bedrooms and 2 full baths; other side offers 4 bedrooms and 2 full baths
- Year built 1997 with composition roof
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
$35,186
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
4.40%
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%
$703,720
$703.7K
Cap Rate 7%
$502,657
$502.7K
Cap Rate 9%
$390,956
$391.0K
Market Conditions
NOI Build-Up for 3,584 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
$53.8K $15.00/SF
− Vacancy
−$3.5K −$0.98/SF
EGI
$50.3K $14.03/SF
− OpEx
−$15.1K −$4.21/SF
NOI
$35.2K $9.82/SF
Area
Lane County, OR
Vacancy
6.50%
Lease Rate
$15.00 /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%
$703,720
Cap Rate 7%
$502,657
Cap Rate 9%
$390,956
Alternative Uses
Best Use
Multifamily LT 5
$502.7K
$439.8K – $586.4K
NOI $35,186 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$467.9K
$409.4K – $545.9K
NOI $32,755 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$906.7K
$793.4K – $1.06M
NOI $63,469 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 97478, OR
39,155
Population
15,182
Households
2.6
Avg Household Size
40
Median Age
22%
College-Educated
92%
High-School Grad
168.4 sq mi
ZIP Area
233
Density / Sq Mi
$79,051
Median Household Income
$38,508
Median Earnings
$1,314
Median Rent
$361,200
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?
Duplex - Two-unit duplex with 5 and 4 bedrooms plus full baths, set on level usable pasture land.
Where is this duplex located?
The property is located at 87851 Cedar Flat Road Springfield, OR.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Duplex with 2 stories and concrete perimeter foundation; One side offers 5 bedrooms and 2 full baths; other side offers 4 bedrooms and 2 full baths; Year built 1997 with composition roof
