Lebanon Duplex with Income
For Sale
$459,000
930 Walker & 2615 S 9th St Rd, Lebanon, OR 97355
Corner duplex in Lebanon with separate access and income potential.
Property Size2,052 SF
Price / SF$223.68
Days on Market360
Property Features for 930 Walker & 2615 S 9th St Rd
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Duplex
Amenities
Electric
Forced Air
Electric Water Heater
Built-In Range
Water Connected, Composition
Building Details
Building Size
2,052 SF
Listing Agency:
Keller Williams Realty-GHT
(541) 409-2106
Listed By:
Sherri Gregory · License #970300073
(541) 409-2106
Source:
Kw
Added: Aug 26, 2025
Changed: Aug 10
Last Checked: Aug 18 at 10:35PM
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 Keller Williams Realty-GHT
Investment Insights
Based on property information with market context.
This corner duplex in Lebanon features separate street access for each unit. Each unit includes 2 bedrooms, 1 bath, an attached single-car garage, and a backyard patio. The property is located near I-5, facilitating convenient commuting. The property offers the option to reside in one unit while renting out the other, or to lease both units for a consistent income stream. The property size is 2052 square feet.
Key Highlights
- Corner duplex with separate street access offers privacy and convenience.
- Each unit has 2 bedrooms, 1 bath, and a single‑car garage.
- Backyard patio for outdoor enjoyment.
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
$19,370
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
4.22%
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%
$387,400
$387.4K
Cap Rate 7%
$276,714
$276.7K
Cap Rate 9%
$215,222
$215.2K
Market Conditions
NOI Build-Up for 2,052 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
$28.3K $13.80/SF
− Vacancy
−$646 −$0.31/SF
EGI
$27.7K $13.49/SF
− OpEx
−$8.3K −$4.05/SF
NOI
$19.4K $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%
$387,400
Cap Rate 7%
$276,714
Cap Rate 9%
$215,222
Alternative Uses
Best Use
Multifamily LT 5
$276.7K
$242.1K – $322.8K
NOI $19,370 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$254.9K
$223.1K – $297.4K
NOI $17,845 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$597.8K
$523.1K – $697.4K
NOI $41,845 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
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 - Corner duplex in Lebanon with separate access and income potential.
Where is this duplex located?
The property is located at 930 Walker & 2615 S 9th St Rd Lebanon, OR.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Corner duplex with separate street access offers privacy and convenience.; Each unit has 2 bedrooms, 1 bath, and a single‑car garage.; Backyard patio for outdoor enjoyment.
