Duplex with Separate
For Sale
$899,000
910 E 22ND Ave, Eugene, OR 97405
MultiFamily, Eugene, OR
Property Size2,819 SF
Lot Size0.16 Acres
Price / SF$318.91
Days on Market48
Property Features for 910 E 22ND Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 2, Bathroom 5, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 3
Subdivision
UNIVERSITY DISTRICT
Elementary school
Edison
Middle school
Roosevelt
High school
South Eugene
Directions
Kincaid and E 22nd
Standard status
Active
APN
0601342
Size
2,819 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
18-03-05-24-05800
Tax Annual Amount
8360
Legal Description
18-03-05-24-05800
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
hardwood floors
arched ceilings
gas fireplace
sunroom
updated kitchen
gas range
granite countertops
jetted tub
walk-in shower
courtyard
covered gazebo
ductless heating/cooling
vaulted ceilings
loft area
Building Details
Year built
1922
Floors in Building
3
Number of units
2
Roof type
Composition
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
Erin Ralston
(541) 357-0853
Added: Jul 17
Changed: Sep 2
Last Checked: Sep 2 at 2:06PM
MLS# 680909111
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,819-square-foot duplex property on a 0.16-acre lot combines a primary residence, a lower-level apartment area, and a separate studio above the garage. The main house includes three bedrooms, an office or den, hardwood floors, arched ceilings, a gas fireplace, sunroom, updated kitchen, and a primary suite with multiple closets, a jetted tub, and walk-in shower. The lower level has a private entrance and can function independently or connect with the main living space.
The studio has its own address and meter, along with ductless heating and cooling, vaulted ceilings, an updated kitchen, loft area, and full bathroom. Property improvements include a 2021 roof, new sewer line, vinyl windows throughout most of the home and studio, newer exterior paint, new interior paint, and new carpet. Additional features include a two-car garage, off-street parking, paved courtyard, and covered gazebo. The property is within walking distance of the University of Oregon, Hayward Field, and area restaurants.
The studio has its own address and meter, along with ductless heating and cooling, vaulted ceilings, an updated kitchen, loft area, and full bathroom. Property improvements include a 2021 roof, new sewer line, vinyl windows throughout most of the home and studio, newer exterior paint, new interior paint, and new carpet. Additional features include a two-car garage, off-street parking, paved courtyard, and covered gazebo. The property is within walking distance of the University of Oregon, Hayward Field, and area restaurants.
Key Highlights
- 2,819 square feet on a 0.16‑acre lot
- Separate studio above the garage with its own address and meter
- Studio includes ductless heating and cooling, updated kitchen, loft, and full bathroom
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
$25,282
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
2.81%
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%
$505,640
$505.6K
Cap Rate 7%
$361,171
$361.2K
Cap Rate 9%
$280,911
$280.9K
Market Conditions
NOI Build-Up for 2,819 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
$36.5K $12.96/SF
− Vacancy
−$416 −$0.15/SF
EGI
$36.1K $12.81/SF
− OpEx
−$10.8K −$3.84/SF
NOI
$25.3K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /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%
$505,640
Cap Rate 7%
$361,171
Cap Rate 9%
$280,911
Alternative Uses
Best Use
Multifamily LT 5
$361.2K
$316.0K – $421.4K
NOI $25,282 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.7K
NOI $22,059 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$850.5K
$744.2K – $992.3K
NOI $59,537 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Explore this area
Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
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 - R-1-zoned property offers multiple living areas, updated interiors, and convenient access to the University of Oregon.
Where is this duplex located?
The property is located at 910 E 22ND Ave Eugene, OR.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,819 square feet on a 0.16‑acre lot; Separate studio above the garage with its own address and meter; Studio includes ductless heating and cooling, updated kitchen, loft, and full bathroom
