Remodeled Duplex with Detached
For Sale
$799,000
13414 NW SHERRY St, Portland, OR 97229
MULTI_FAMILY - Portland, OR
Property Size2,485 SF
Lot Size0.34 Acres
Price / SF$321.53
Days on Market23
Property Features for 13414 NW SHERRY St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R24-40
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 5
Elementary school
Bonny Slope
Middle school
Cedar Park
High school
Sunset
Directions
Cornell Rd, to Joy Ave, Right on Sherry Street
Subdivision
_149
Standard status
Active
APN
R636093
Size
2,485 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
GREDVIG'S SUBDIVISION, BLOCK 3, LOT 2 & PT 1
Tax Annual Amount
5077
Legal Description
GREDVIG'S SUBDIVISION, BLOCK 3, LOT 2 & PT 1
Utilities
Heating system
Forced Air
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Kevin Morris Realty
(503) 452-5400
Listed By:
Rachelle Kammann
(503) 314-9230
Added: Jul 22
Changed: Aug 13
Last Checked: Aug 13 at 4:06AM
MLS# 741838046
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 remodeled duplex at 13414 NW Sherry St offers two 3-bedroom, 1-bath units within a 2,485 SF building on a 0.34-acre, multi-family-zoned lot (Zoning: R24-40). The property was built in 1951 and is heated with forced air, with a composition roof.
Recent remodeling includes new water and sewer line, new tankless water heaters, and new electrical panels. A detached shop on the property provides additional income and is currently leased.
The current setup provides two spacious residences, with room for expansion under the existing zoning. The offering describes the potential to add approximately 5–10 additional units while retaining the existing improvements, with an estimated 9–12 unit project achievable while keeping the existing structure. The cap rate is noted as 6.2% with current rental income.
Recent remodeling includes new water and sewer line, new tankless water heaters, and new electrical panels. A detached shop on the property provides additional income and is currently leased.
The current setup provides two spacious residences, with room for expansion under the existing zoning. The offering describes the potential to add approximately 5–10 additional units while retaining the existing improvements, with an estimated 9–12 unit project achievable while keeping the existing structure. The cap rate is noted as 6.2% with current rental income.
Key Highlights
- 6.2% cap rate with current rental income
- Two 3‑bedroom, 1‑bath units in a remodeled duplex
- Detached shop on‑site provides additional leased income
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
$36,377
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
4.55%
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%
$727,540
$727.5K
Cap Rate 7%
$519,671
$519.7K
Cap Rate 9%
$404,189
$404.2K
Market Conditions
NOI Build-Up for 2,485 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
$55.2K $22.20/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$52.0K $20.91/SF
− OpEx
−$15.6K −$6.27/SF
NOI
$36.4K $14.64/SF
Area
ZIP 97229
Vacancy
5.80%
Lease Rate
$22.20 /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%
$727,540
Cap Rate 7%
$519,671
Cap Rate 9%
$404,189
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.7K – $606.3K
NOI $36,377 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$480.5K
$420.4K – $560.6K
NOI $33,633 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$670.8K
$586.9K – $782.6K
NOI $46,953 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
818
Businesses Nearby
Explore this area
Business Placement
Demographics for 97229, OR
73,602
Population
28,312
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
98%
High-School Grad
19.7 sq mi
ZIP Area
3,736
Density / Sq Mi
$159,863
Median Household Income
$83,904
Median Earnings
$1,948
Median Rent
$728,800
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 - Zoned R24-40 duplex with two 3-bedroom, 1-bath units and detached shop; 6.2% cap rate on current income.
Where is this duplex located?
The property is located at 13414 NW SHERRY St Portland, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 6.2% cap rate with current rental income; Two 3‑bedroom, 1‑bath units in a remodeled duplex; Detached shop on‑site provides additional leased income
