Home Details for 2124 Hickory SE Bend

Welcome to this well-maintained four-sided brick duplex, where each 2048 sqft unit has 3 spacious bedrooms and 3-bathroom - each designed for comfort and convenience. Over $70,000 in renovations/upgrades in 2021 Inside, each unit features a cozy family room with a fireplace, a functional kitchen with black appliances and generous cabinetry, and a dedicated laundry room. Bedrooms are comfortably carpeted with ceiling fans throughout, while each primary suite offers a spacious walk-in closet and abundant natural light. Outside, the fenced backyard provides a private space to relax or entertain. The area is also seeing rapid growth, with 5,600 new jobs coming to major employers like Rivian, Archer Aviation, and Meta - all within a 10-minute drive. Plus, with average rents for 3-bedroom rentals in the area currently around $1,775, there’s clear potential for future rent increases. Whether you're seeking rental income or a multi-generational living solution, this property offers the ideal combination of versatility, value, and steady returns.Unit A rents for $1,560/month and Unit B for $1,657/month, generating a total monthly income of $3,217, or $38,604 annually. With estimated annual expenses at 16% of gross income ($6,176.64), this property delivers a solid Net Operating Income of $32,427.36 and a cap rate of approximately of 7.91%. Assuming a 20% down payment and a 30-year fixed mortgage at a 6.5% interest rate, annual debt service is estimated at $24,872.40. This results in an estimated pre-tax cash flow of approximately $630/month or $7,555/year in the first year - making this duplex a compelling option for investors seeking steady returns. MARKET RENT POTENTIAL: Average rents for 3-bedroom rentals in this area are currently around $1,775/month. At that rate, total monthly income would increase to $3,550, or $42,600 annually. With the same 16% expense ratio, operating expenses would be approximately $6,816, resulting in a Net Operating Income (NOI) of $35,784. This would raise the cap rate to 8.73%. With a $410,00 purchase price, a 20% down payment ($82,000), and an estimated annual debt service of $24,864, projected cash flow would increase to $10,920/year - delivering an improved cash-on-cash return of 13.3%. . ***No showings until due diligence period. Please do not disturb tenants.*

• Utilities

  • Electricity Available
  • Sewer Available
  • Water Available

• Cooling Information

  • Ceiling Fan(s)
  • Central Air

• Heating Information

  • Forced Air
  • Central

• Water Features

  • Public

• Parking

  • Driveway