Two-Unit Duplex with
For Sale
$424,900
937 NW Cains Rd, Prineville, OR 97754
Both residences feature open layouts, full appliance packages, private side yards, and dedicated storage.
Property Size2,012 SF
Price / SF$211.18
Days on Market175
Property Features for 937 NW Cains Rd
General Information
Standard status
Active
Size
2,012 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2002
Buildings
1
Listing Agency:
Mal & Seitz
Listed By:
Kathryn Smith · License #200502189
(971) 340-6636
Source:
Wisser
Added: Mar 13
Changed: Aug 30
Last Checked: Sep 1 at 10:38PM
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 Mal & Seitz
Investment Insights
Based on property information with market context.
Built in 2002, this duplex contains 2,012 square feet with two separately configured residences. Each unit offers two bedrooms, one and one-half baths, an open interior layout, a large kitchen, and storage space. Individual single-car garages and side yards serve each residence, with a fenced side yard at Unit A.
Included appliances are refrigerators, ranges, dishwashers, and washer/dryer sets. The property is zoned R4 and located in a floodplain. The address is 937 Northwest Cains Road in Prineville, Oregon.
Included appliances are refrigerators, ranges, dishwashers, and washer/dryer sets. The property is zoned R4 and located in a floodplain. The address is 937 Northwest Cains Road in Prineville, Oregon.
Key Highlights
- Two‑unit duplex totaling 2,012 square feet
- Each unit includes 2 bedrooms and 1 and 1/2 baths
- Built in 2002
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
$28,225
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
6.64%
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%
$564,500
$564.5K
Cap Rate 7%
$403,214
$403.2K
Cap Rate 9%
$313,611
$313.6K
Market Conditions
NOI Build-Up for 2,012 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
$43.5K $21.60/SF
− Vacancy
−$3.1K −$1.56/SF
EGI
$40.3K $20.04/SF
− OpEx
−$12.1K −$6.01/SF
NOI
$28.2K $14.03/SF
Area
Crook County, OR
Vacancy
7.22%
Lease Rate
$21.60 /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%
$564,500
Cap Rate 7%
$403,214
Cap Rate 9%
$313,611
Alternative Uses
Best Use
Multifamily LT 5
$403.2K
$352.8K – $470.4K
NOI $28,225 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$368.1K
$322.1K – $429.5K
NOI $25,767 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$869.2K
$760.5K – $1.01M
NOI $60,843 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
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 - Both residences feature open layouts, full appliance packages, private side yards, and dedicated storage.
Where is this duplex located?
The property is located at 937 NW Cains Rd Prineville, OR.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,012 square feet; Each unit includes 2 bedrooms and 1 and 1/2 baths; Built in 2002
