One-Level Brick
For Sale
$429,900
2307 SUNSET Dr, Forest Grove, OR 97116
MULTI_FAMILY - ForestGrove, OR
Property Size1,200 SF
Lot Size0.15 Acres
Price / SF$358.25
Days on Market40
Property Features for 2307 SUNSET Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RMH
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Subdivision
Pacific Univ. /Curtis Addition
Elementary school
Tom McCall
Middle school
Neil Armstrong
High school
Forest Grove
Directions
From Pacific Ave, south on Sunset Dr. Near Forest Grove Aquatic Center and 23rd Ave.
Standard status
Active
APN
R744715
Size
1,200 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
CURTIS ADDITION TO THE CITY OF FOREST GROVE, BLOCK 2, LOT 10, ACR
Tax Annual Amount
2455
Legal Description
CURTIS ADDITION TO THE CITY OF FOREST GROVE, BLOCK 2, LOT 10, ACR
Utilities
Heating system
Zoned
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Rose Country Realty
(971) 570-2216
Listed By:
Annie Wrucke · License #960800173
(971) 570-2216
Added: Jul 4
Changed: Aug 4
Last Checked: Aug 12 at 8:06AM
MLS# 162982049
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 1,200-square-foot duplex sits on a 0.15-acre lot and was built in 1950. The one-level brick property includes two units, each with a living area, kitchen, dining space, one bedroom, and one bathroom. Updated flooring and light neutral finishes are present throughout. One unit has a stove, refrigerator, full-size dishwasher, and stack washer and dryer; the other includes a stove and refrigerator. The property has zoned heating and a composition roof and is offered as-is.
The property is near Pacific University, the Forest Grove Aquatic Center, downtown, transit, restaurants, coffee, and local services. Schools, shopping, employment, and daily services are also identified in the surrounding area. RMH zoning applies. A side utility area includes an apparent exterior electrical hookup and nearby sewer cleanout associated with a prior travel trailer location; permitted use, capacity, and city requirements require buyer verification.
The property is near Pacific University, the Forest Grove Aquatic Center, downtown, transit, restaurants, coffee, and local services. Schools, shopping, employment, and daily services are also identified in the surrounding area. RMH zoning applies. A side utility area includes an apparent exterior electrical hookup and nearby sewer cleanout associated with a prior travel trailer location; permitted use, capacity, and city requirements require buyer verification.
Key Highlights
- Two‑unit duplex with 1,200 square feet of building area
- 0.15‑acre lot with RMH zoning
- One bedroom and one bathroom in each unit
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
$15,408
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
3.58%
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%
$308,160
$308.2K
Cap Rate 7%
$220,114
$220.1K
Cap Rate 9%
$171,200
$171.2K
Market Conditions
NOI Build-Up for 1,200 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
$29.5K $24.60/SF
− Vacancy
−$1.5K −$1.25/SF
EGI
$28.0K $23.35/SF
− OpEx
−$12.6K −$10.51/SF
NOI
$15.4K $12.84/SF
Area
Washington County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$308,160
Cap Rate 7%
$220,114
Cap Rate 9%
$171,200
Alternative Uses
Best Use
Apartment 5plus
$220.1K
$192.6K – $256.8K
NOI $15,408 @ 7.0% cap · market cap 3.58%
Second Best
Multifamily LT 5
$210.5K
$184.2K – $245.6K
NOI $14,734 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$323.9K
$283.4K – $377.9K
NOI $22,674 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 97116, OR
29,351
Population
10,229
Households
2.9
Avg Household Size
36
Median Age
33%
College-Educated
90%
High-School Grad
82.1 sq mi
ZIP Area
358
Density / Sq Mi
$87,308
Median Household Income
$42,330
Median Earnings
$1,397
Median Rent
$479,800
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 - Two residential units each offer one bedroom, one bathroom, plus living, kitchen, and dining areas.
Where is this duplex located?
The property is located at 2307 SUNSET Dr Forest Grove, OR.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,200 square feet of building area; 0.15‑acre lot with RMH zoning; One bedroom and one bathroom in each unit
