309 W Sherman St - UPDATED DUPLEX IN NEWBERG, OREGON
1,616 SF Specialty Building Offered at $499,900 at a 6.72% Cap Rate in Newberg, OR 97132
Investment Highlights
- Property Has Long Time Renters Already in Place
- Walking Distance to Downtown Newberg
- George Fox University is in Newberg, Oregon
Executive Summary
($20,000 PRICE REDUCED)Fantastic investment opportunity in Newberg, Oregon! This 1616SF duplex is two units. One unit on the main floor features a living room, kitchen, 2 bedrooms,1 bathroom and it also features an upstairs bonus room and has 989 square feet. It currently rents for $1820/mo. The second unit features 1 bedroom and 1 bathroom with and it's own laundry and Kitchen and has approx. 627sf. It currently rents for $1400/mo. This property has two backyards and a 1 car attached garage. Nice front porch and is close to downtown Newberg. Great for George Fox University Rental.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $38,640 | $23.91 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $38,640 | $23.91 |
Taxes | $3,851 | $2.38 |
Operating Expenses | $5,051 | $3.13 |
Total Expenses | $8,902 | $5.51 |
Net Operating Income | $29,738 | $18.40 |
Property Facts Under Contract
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Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (82)
zoning
Zoning Code | R-2 (Property is Zoned for Two Units) |