Remodeled Duplex With
For Sale
$609,900
2185-2187 Dorsey Dr, Hubbard, OR 97032
MULTI_FAMILY - Hubbard, OR
Property Size2,552 SF
Lot Size0.21 Acres
Price / SF$238.99
Days on Market43
Property Features for 2185-2187 Dorsey Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 3, Bedroom 8, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 2, Bathroom 5
Patio and Porch features
Patio
Subdivision
Andrew Commons
Lot features
Lot: 10
Elementary school
North Marion
Middle school
North Marion
High school
North Marion
Standard status
Active
APN
329740
Size
2,552 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5139
Utilities
Heating system
Forced Air
Building Details
Year built
2003
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
CHUN TRUONG · License #199911024
(503) 851-3167
Added: Jul 9
Changed: Aug 5
Last Checked: Aug 20 at 9:06AM
MLS# 843202
Copyright © 2026 Willamette Valley Multiple Listing Service. 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 offers two occupied units and open floor plans designed for practical day-to-day living. The property includes 1-car garages, a patio, and a private setting backing to a nature preserve. Interior finishes include vinyl and carpet flooring, and the homes are heated with forced-air systems.
Built in 2003, the duplex features a composition roof and is located at 2185-2187 Dorsey Dr in Hubbard, Oregon (97032) within Marion County. The combination of occupied units and a private, nature-preserve backing setting may appeal to buyers looking for immediate rental occupancy.
Floor plan layouts include multiple bedrooms and bathrooms per unit, with the overall room configuration supporting versatile use across the duplex.
Built in 2003, the duplex features a composition roof and is located at 2185-2187 Dorsey Dr in Hubbard, Oregon (97032) within Marion County. The combination of occupied units and a private, nature-preserve backing setting may appeal to buyers looking for immediate rental occupancy.
Floor plan layouts include multiple bedrooms and bathrooms per unit, with the overall room configuration supporting versatile use across the duplex.
Key Highlights
- Duplex with both units occupied
- Recently remodeled duplex with open floor plans
- Private setting backing to a nature preserve
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
$19,421
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
3.18%
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%
$388,420
$388.4K
Cap Rate 7%
$277,443
$277.4K
Cap Rate 9%
$215,789
$215.8K
Market Conditions
NOI Build-Up for 2,552 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
$29.7K $11.64/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$27.7K $10.87/SF
− OpEx
−$8.3K −$3.26/SF
NOI
$19.4K $7.61/SF
Area
Marion County, OR
Vacancy
6.60%
Lease Rate
$11.64 /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%
$388,420
Cap Rate 7%
$277,443
Cap Rate 9%
$215,789
Alternative Uses
Best Use
Multifamily LT 5
$277.4K
$242.8K – $323.7K
NOI $19,421 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$257.8K
$225.6K – $300.8K
NOI $18,049 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$600.2K
$525.2K – $700.2K
NOI $42,013 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 97032, OR
5,188
Population
1,805
Households
2.9
Avg Household Size
35
Median Age
23%
College-Educated
85%
High-School Grad
17.9 sq mi
ZIP Area
290
Density / Sq Mi
$100,301
Median Household Income
$47,561
Median Earnings
$1,492
Median Rent
$444,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled duplex in Hubbard, OR on a private setting with patio, vinyl and carpet flooring, and forced-air heat.
Where is this duplex located?
The property is located at 2185-2187 Dorsey Dr Hubbard, OR.
What is the asking price?
The asking price for this property is $609,900.
What are key features of this property?
This property features: Duplex with both units occupied; Recently remodeled duplex with open floor plans; Private setting backing to a nature preserve
