2405 SE CORA St, Portland, OR 97202
MULTI_FAMILY - Portland, OR
- Added:
- Jun 29, 2026
- Days on Market:
- 8
- Last Refresh:
- Jul 6 at 3:06 am
Property Features for 2405 SE CORA St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2.5
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 3
- Standard status
- Active
- APN
- R274131
- Size
- 2,958 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- SPANTONS ADD, BLOCK 4, LOT 20
- Tax Annual Amount
- 6381
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1917
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Composition
Listing agent Alex Mcphee (503) 758-6721
Listing office eXp Realty, LLC 4800 Meadows Rd Ste 300, Salem, OR (888) 814-9613
Listing date Jun 29, 2026
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.
HighLights
- Side‑by‑side craftsman duplex with 4 bedrooms and 4 bathrooms across both units
- Built in 1917 with composition roof; forced air heating and central air conditioning
- Each unit includes separate laundry space and a high‑ceilinged open, loft‑like layout with flex rooms
- French doors from the kitchen to a deck and private patio (2411) plus fenced backyard space for each side
- Rental history with limited vacancy; 2405 has established mid‑term rental income of $2,800/month
- 2411 is currently rented for $2,500/month (no utilities included)
Overview
The property is centrally located in Portland and is described as within a quick walk of cafes and shops, with downtown Portland about two miles away. The duplex is zoned R2.5 and sits on a 0.09-acre lot.
For buyers, the configuration supports either owner-occupancy or an income-focused approach. The listing states that the 2405 unit is used as an established mid-term rental at $2,800 per month, and 2411 is currently rented for $2,500 per month with no utilities included. Separate laundry and private outdoor space can appeal to tenants seeking more functional in-unit amenities without sharing common laundry or exterior space.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.7k | $22.20 |
| − Vacancy | −$4.3k | −$1.44 |
| EGI | $61.4k | $20.76 |
| − OpEx | −$18.4k | −$6.23 |
| NOI | $43.0k | $14.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.641278
- Latitude
- 45.492218
