Residential Income
For Sale
Contact for pricing
Pending
931 NW Carlon Avenue, Bend, OR 97703
Residential income multifamily property available for sale at 931 NW Carlon Avenue in Bend, OR.
Property Size4,416 SF
Days on Market134
Property Features for 931 NW Carlon Avenue
General Information
Standard status
Pending
Size
4,416 SF
Property subtype
Multifamily
Zoning
Residential Medium Density (RM)
Investment Type
Value Add
Additional Details
Multifamily Units
4
Building Details
Year Built
1978
Units
4
Listing Agency:
Compass Commercial Real Estate Services
Listed By:
Terry O'Neil · License #OR 201103123
Source:
Crexi
Added: Apr 25
Changed: Aug 8
Last Checked: Jul 25 at 2:31PM
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 Compass Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This residential income multifamily property is offered for sale at 931 NW Carlon Avenue in Bend, Oregon. The property is listed as an “other multifamily” asset type, with a total size of 4,416 square feet.
The address is provided as 931 NW Carlon Avenue, Bend, OR 97703. No additional building details, unit count, layout, or condition information were included in the available remarks.
Interested parties should review the property and supporting offering materials for further specifics on the configuration and operating details.
The address is provided as 931 NW Carlon Avenue, Bend, OR 97703. No additional building details, unit count, layout, or condition information were included in the available remarks.
Interested parties should review the property and supporting offering materials for further specifics on the configuration and operating details.
Key Highlights
- Multifamily residential income property for sale at 931 NW Carlon Avenue in Bend, OR 97703
- Built in 1978
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
$56,554
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
3.77%
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%
$1,131,080
$1.1M
Cap Rate 7%
$807,914
$807.9K
Cap Rate 9%
$628,378
$628.4K
Market Conditions
NOI Build-Up for 4,416 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
$111.3K $25.20/SF
− Vacancy
−$8.5K −$1.92/SF
EGI
$102.8K $23.28/SF
− OpEx
−$46.3K −$10.48/SF
NOI
$56.6K $12.81/SF
Area
Bend, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,131,080
Cap Rate 7%
$807,914
Cap Rate 9%
$628,378
Alternative Uses
Best Use
Apartment 5plus
$807.9K
$706.9K – $942.6K
NOI $56,554 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,540 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,973
Businesses Nearby
Explore this area
Business Placement
Demographics for 97703, OR
32,475
Population
16,032
Households
2
Avg Household Size
45
Median Age
60%
College-Educated
98%
High-School Grad
269.8 sq mi
ZIP Area
120
Density / Sq Mi
$118,160
Median Household Income
$52,182
Median Earnings
$1,831
Median Rent
$915,900
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 - Residential income multifamily property available for sale at 931 NW Carlon Avenue in Bend, OR.
Where is this multifamily property located?
The property is located at 931 NW Carlon Avenue Bend, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Multifamily residential income property for sale at 931 NW Carlon Avenue in Bend, OR 97703; Built in 1978
