Contemporary Fenced
For Sale
$301,000
925 Fulton Street, Klamath Falls, OR 97601
MULTI_FAMILY - Contemporary - Klamath Falls, OR
Property Size1,600 SF
Lot Size0.12 Acres
Price / SF$188.13
Days on Market49
Property Features for 925 Fulton Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
MD
Parking features
Driveway
Window features
Double Pane Windows
Interior features
Pantry
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Klamath Falls -Fairview Addition
Lot features
Level
View
Territorial
Elementary school
Pelican Elem
Middle school
Ponderosa Middle
High school
Klamath Union High School
Directions
Oregon Ave. to Fulton St. duplex is on the left.
Standard status
Active
APN
302693
Size
1,600 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2908
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2010
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
Century 21 Showcase, Realtors · Century 21 Real Estate
(541) 882-2121
Listed By:
Rick Batsell · License #201236358
(541) 891-8462
Added: Jul 3
Changed: Aug 16
Last Checked: Aug 20 at 5:06AM
MLS# 220224604
Copyright © 2026 Oregon Data Share. 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.
Built in 2010, this contemporary duplex contains 1,600 square feet on a .12-acre lot. Each residence offers 2 bedrooms, 1 full bathroom, approximately 800 sq. ft., a pantry, vinyl and carpet flooring, a dishwasher, range, and refrigerator. The property has frame construction, a composition roof, forced-air heating, public water, public sewer, and driveway parking. A large fence was added in 2024.
The duplex is located within a few blocks of downtown and next to the YMCA. Oregon Institute of Technology and Sky Lakes Medical Center are within 1.5 miles. A hilltop park, Klamath Lake, and Pelican Marina are also nearby. Unit B is HUD approved, while Unit A requires only minor changes for approval.
The duplex is located within a few blocks of downtown and next to the YMCA. Oregon Institute of Technology and Sky Lakes Medical Center are within 1.5 miles. A hilltop park, Klamath Lake, and Pelican Marina are also nearby. Unit B is HUD approved, while Unit A requires only minor changes for approval.
Key Highlights
- 1,600 square feet on a .12‑acre lot
- Each unit has 2 bedrooms, 1 full bathroom, and approximately 800 sq. ft.
- Large fence added in 2024
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
$13,041
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
4.33%
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%
$260,820
$260.8K
Cap Rate 7%
$186,300
$186.3K
Cap Rate 9%
$144,900
$144.9K
Market Conditions
NOI Build-Up for 1,600 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
$20.4K $12.72/SF
− Vacancy
−$1.7K −$1.08/SF
EGI
$18.6K $11.64/SF
− OpEx
−$5.6K −$3.49/SF
NOI
$13.0K $8.15/SF
Area
Klamath County, OR
Vacancy
8.46%
Lease Rate
$12.72 /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%
$260,820
Cap Rate 7%
$186,300
Cap Rate 9%
$144,900
Alternative Uses
Best Use
Multifamily LT 5
$186.3K
$163.0K – $217.4K
NOI $13,041 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,544 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$327.0K
$286.2K – $381.6K
NOI $22,893 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 97601, OR
23,264
Population
10,936
Households
2.1
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
577.8 sq mi
ZIP Area
40
Density / Sq Mi
$53,333
Median Household Income
$31,011
Median Earnings
$972
Median Rent
$266,500
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 - Two-unit property with public utilities, driveway parking, forced-air heating, and convenient access to downtown amenities.
Where is this duplex located?
The property is located at 925 Fulton Street Klamath Falls, OR.
What is the asking price?
The asking price for this property is $301,000.
What are key features of this property?
This property features: 1,600 square feet on a .12‑acre lot; Each unit has 2 bedrooms, 1 full bathroom, and approximately 800 sq. ft.; Large fence added in 2024
