Duplex with Updated Upper
For Sale
$399,990
11885 SE PINE St, Portland, OR 97216
MultiFamily, Portland, OR
Property Size1,636 SF
Lot Size0.05 Acres
Price / SF$244.49
Days on Market61
Property Features for 11885 SE PINE St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 4
Elementary school
Ventura Park
Middle school
Floyd Light
High school
David Douglas
Directions
Stark, N on 117th, E on Pine, street parking right in front
Subdivision
_143
Standard status
Active
APN
R539638
Size
1,636 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
VENTURA PK, BLOCK 25, LOT 27 EXC ELY 3.04' & WLY 0.46'
Tax Annual Amount
5883
Legal Description
VENTURA PK, BLOCK 25, LOT 27 EXC ELY 3.04' & WLY 0.46'
Utilities
Heating system
Baseboard, Zoned
Building Details
Year built
2005
Floors in Building
3
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Joe Liu
(503) 200-8257
Added: Aug 6
Changed: Sep 28
Last Checked: Oct 5 at 4:06AM
MLS# 786993966
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,636-square-foot duplex, built in 2005, includes two distinct residences. The lower home is a single-level one-bedroom, one-bath unit occupied by a tenant for approximately five years. Upstairs, the vacant two-story residence offers two bedrooms and 1.1 baths, along with new LVP flooring, carpet, blinds, and interior paint. Kitchen appliances and a washer and dryer are included.
Outdoor features include a front porch and private rear deck serving the upper residence. Parking consists of street parking along the frontage and one assigned carport space at the rear. The property is zoned R1 and occupies 0.05 acres at 11885 SE PINE St in Portland. Access to the freeway, MAX station, shopping, grocery stores, dining, and Glendoveer Golf & Tennis facilities is noted in the surrounding area.
Outdoor features include a front porch and private rear deck serving the upper residence. Parking consists of street parking along the frontage and one assigned carport space at the rear. The property is zoned R1 and occupies 0.05 acres at 11885 SE PINE St in Portland. Access to the freeway, MAX station, shopping, grocery stores, dining, and Glendoveer Golf & Tennis facilities is noted in the surrounding area.
Key Highlights
- 1,636‑square‑foot duplex on a 0.05‑acre lot
- Lower unit: single‑level 1‑bedroom, 1‑bath residence with a tenant of approximately five years
- Upper unit: vacant two‑story layout with 2 bedrooms and 1.1 baths
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
$22,799
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
5.70%
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%
$455,980
$456.0K
Cap Rate 7%
$325,700
$325.7K
Cap Rate 9%
$253,322
$253.3K
Market Conditions
NOI Build-Up for 1,636 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
$34.4K $21.00/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$32.6K $19.91/SF
− OpEx
−$9.8K −$5.97/SF
NOI
$22.8K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$455,980
Cap Rate 7%
$325,700
Cap Rate 9%
$253,322
Alternative Uses
Best Use
Multifamily LT 5
$325.7K
$285.0K – $380.0K
NOI $22,799 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$300.1K
$262.6K – $350.1K
NOI $21,006 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$459.4K
$402.0K – $536.0K
NOI $32,160 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a tenant in place, a refreshed vacant residence, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 11885 SE PINE St Portland, OR.
What is the asking price?
The asking price for this property is $399,990.
What are key features of this property?
This property features: 1,636‑square‑foot duplex on a 0.05‑acre lot; Lower unit: single‑level 1‑bedroom, 1‑bath residence with a tenant of approximately five years; Upper unit: vacant two‑story layout with 2 bedrooms and 1.1 baths
