Waterfront Duplex with Expansive
New
For Sale
$719,000
2549 QUEEN St, Seaside, OR 97138
MultiFamily, Seaside, OR
Property Size3,420 SF
Lot Size0.26 Acres
Price / SF$210.23
Days on Market4
Property Features for 2549 QUEEN St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 5
View
River
Elementary school
Pacific Ridge
Middle school
Seaside
High school
Seaside
Directions
24th Ave. to Queen north to property on River
Subdivision
_185
Standard status
Active
APN
9798
Size
3,420 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
VENICE PARK N 85 LTS 6 & 7 BLK B INC ST VAC EXC E 10 LT 7
Tax Annual Amount
6338
Legal Description
VENICE PARK N 85 LTS 6 & 7 BLK B INC ST VAC EXC E 10 LT 7
Utilities
Heating system
Forced Air
Water front features
River Front, Creek
Water front
1
Amenities
deck
Building Details
Year built
1975
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Michael Davis · License #201219959
(503) 440-2747
Added: Aug 26
Last Checked: Aug 29 at 5:06PM
MLS# 571160699
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 two-unit duplex contains 3,420 square feet on a 0.26-acre parcel, with five bedrooms and four bathrooms across the property. Built in 1975, it features forced-air heating, a composition roof, and an expansive deck oriented toward riverfront and creek views. The two-residence layout supports full- or part-time occupancy in one unit while reserving the other for guests, multigenerational living, or potential rental income.
Located in Seaside, Oregon, the property offers direct connection to the surrounding waterfront setting. The deck provides space for viewing sunrises, sunsets, and changing estuary conditions, while kayaking, paddleboarding, boating, and relaxation by the water are identified as available lifestyle activities. RES zoning applies to the property.
Located in Seaside, Oregon, the property offers direct connection to the surrounding waterfront setting. The deck provides space for viewing sunrises, sunsets, and changing estuary conditions, while kayaking, paddleboarding, boating, and relaxation by the water are identified as available lifestyle activities. RES zoning applies to the property.
Key Highlights
- Two‑unit duplex with 3,420 square feet of property size
- 0.26‑acre waterfront parcel in Seaside, OR
- River Front and Creek waterfront features
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
$24,563
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
3.42%
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%
$491,260
$491.3K
Cap Rate 7%
$350,900
$350.9K
Cap Rate 9%
$272,922
$272.9K
Market Conditions
NOI Build-Up for 3,420 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
$47.2K $13.80/SF
− Vacancy
−$12.1K −$3.54/SF
EGI
$35.1K $10.26/SF
− OpEx
−$10.5K −$3.08/SF
NOI
$24.6K $7.18/SF
Area
Clatsop County, OR
Vacancy
25.65%
Lease Rate
$13.80 /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%
$491,260
Cap Rate 7%
$350,900
Cap Rate 9%
$272,922
Alternative Uses
Best Use
Multifamily LT 5
$350.9K
$307.0K – $409.4K
NOI $24,563 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$994.3K
$870.1K – $1.16M
NOI $69,604 @ 7.0% cap · market cap 9.68%
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
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
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 residences support owner occupancy, guest use, or potential rental income.
Where is this duplex located?
The property is located at 2549 QUEEN St Seaside, OR.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,420 square feet of property size; 0.26‑acre waterfront parcel in Seaside, OR; River Front and Creek waterfront features
