Duplex with Patio
For Sale
$489,000
963 Madison St, Eugene, OR 97402
Two residential units include laundry hookups and a partially finished attic in one unit.
Property Size2,174 SF
Price / SF$224.93
Days on Market66
Property Features for 963 Madison St
General Information
Standard status
Active
Size
2,174 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA with partially finished attic, 1 x 2BR/1BA
Multifamily Units
2
Amenities
shared patio area
W/D hookups
Building Details
Year Built
1920
Listing Agency:
Windermere RE Lane County
Listed By:
David Baslaw · License #200611115
(541) 465-8116
Source:
Evokepropertypartners
Added: Aug 15
Changed: Oct 7
Last Checked: Oct 7 at 1:03PM
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 Windermere RE Lane County
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Investment Insights
Based on property information with market context.
This 2,174-square-foot duplex, built in 1920, contains two residential units. Each unit offers two bedrooms and one bathroom, with washer and dryer hookups serving both residences. Unit 963 also includes partially finished attic space. The property provides an open shared patio at the front and additional patio space at the rear.
Located at 963 Madison St in Eugene, the duplex is positioned in the downtown area. Unit 963 is scheduled to become vacant at the end of August, while the property remains configured for continued two-unit residential use.
Located at 963 Madison St in Eugene, the duplex is positioned in the downtown area. Unit 963 is scheduled to become vacant at the end of August, while the property remains configured for continued two-unit residential use.
Key Highlights
- 2,174‑square‑foot duplex built in 1920
- Two units, each with 2 bedrooms and 1 bathroom
- Partially finished attic space in Unit #963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,498
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,960
$390.0K
Cap Rate 7%
$278,543
$278.5K
Cap Rate 9%
$216,644
$216.6K
Market Conditions
NOI Build-Up for 2,174 SF
Gross rent
$28.2K $12.96/SF
− Vacancy
−$321 −$0.15/SF
EGI
$27.9K $12.81/SF
− OpEx
−$8.4K −$3.84/SF
NOI
$19.5K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,960
Cap Rate 7%
$278,543
Cap Rate 9%
$216,644
Alternative Uses
Best Use
Multifamily LT 5
$278.5K
$243.7K – $325.0K
NOI $19,498 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$243.0K
$212.6K – $283.5K
NOI $17,011 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$655.9K
$573.9K – $765.3K
NOI $45,915 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,140
Businesses Nearby
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Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include laundry hookups and a partially finished attic in one unit.
Where is this duplex located?
The property is located at 963 Madison St Eugene, OR.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2,174‑square‑foot duplex built in 1920; Two units, each with 2 bedrooms and 1 bathroom; Partially finished attic space in Unit #963
