Two-Residence Multifamily
For Sale
$499,000
92278 CARSON St, Marcola, OR 97454
MultiFamily, Marcola, OR
Property Size2,000 SF
Lot Size1.11 Acres
Price / SF$249.50
Days on Market63
Property Features for 92278 CARSON St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RR1
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
Elementary school
Marcola
Middle school
Mohawk
High school
Mohawk
Directions
Marcola Rd/Carson St
Subdivision
_250
Standard status
Active
APN
1667722
Size
2,000 SF
Lot size
1.11 Acres
Taxes and HOA fees
Tax Description
SUBD: Cole's First Addition To MARCOLA SEC/TOWN/RNG/MER;SEC Lots 1,2, and 3 block 2 & NW Corner
Tax Annual Amount
1159
Legal Description
SUBD: Cole's First Addition To MARCOLA SEC/TOWN/RNG/MER;SEC Lots 1,2, and 3 block 2 & NW Corner
Utilities
Heating system
Wood, Wood Stove, Baseboard
Amenities
dog kennels
fruit trees
open pasture
Building Details
Year built
1938
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Kimberly Keller
(541) 525-6511
Added: Jul 8
Changed: Sep 7
Last Checked: Sep 8 at 9:06PM
MLS# 428561932
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 multifamily property combines a two-story primary residence with a separate second home on 1.11 acres in Marcola. The main residence offers 2,000 square feet, three bedrooms, a pantry or office area, and a large laundry room. Baseboard heat and a wood stove serve the home, which was built in 1938 and has a shingle roof.
The land is fully fenced and includes multiple outbuildings, dog kennels, fruit trees, and open pasture. Four separate tax lots are included, along with additional utility hookups on site. Local schools, a grocery store, tavern, and restaurant are within walking distance, while Springfield is approximately 12 miles away. Shotgun Creek and other outdoor recreation are also nearby. The property is zoned RR1 and is offered as-is.
The land is fully fenced and includes multiple outbuildings, dog kennels, fruit trees, and open pasture. Four separate tax lots are included, along with additional utility hookups on site. Local schools, a grocery store, tavern, and restaurant are within walking distance, while Springfield is approximately 12 miles away. Shotgun Creek and other outdoor recreation are also nearby. The property is zoned RR1 and is offered as-is.
Key Highlights
- Two residences on 1.11 acres in Marcola
- Primary home contains 2,000 square feet and was built in 1938
- Four separate tax lots included
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
$19,635
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
3.93%
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%
$392,700
$392.7K
Cap Rate 7%
$280,500
$280.5K
Cap Rate 9%
$218,167
$218.2K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$28.1K $14.03/SF
− OpEx
−$8.4K −$4.21/SF
NOI
$19.6K $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%
$392,700
Cap Rate 7%
$280,500
Cap Rate 9%
$218,167
Alternative Uses
Best Use
Multifamily LT 5
$280.5K
$245.4K – $327.3K
NOI $19,635 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$261.1K
$228.5K – $304.7K
NOI $18,279 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$506.0K
$442.7K – $590.3K
NOI $35,418 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 97454, OR
1,382
Population
443
Households
3.1
Avg Household Size
51
Median Age
18%
College-Educated
94%
High-School Grad
60.3 sq mi
ZIP Area
23
Density / Sq Mi
$96,488
Median Household Income
$40,240
Median Earnings
$994
Median Rent
$422,200
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?
Multifamily property - Fenced rural acreage includes a primary home, second residence, outbuildings, pasture, and additional utility hookups.
Where is this multifamily property located?
The property is located at 92278 CARSON St Marcola, OR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two residences on 1.11 acres in Marcola; Primary home contains 2,000 square feet and was built in 1938; Four separate tax lots included
