Duplex with Separate Lower Unit
For Sale
$825,000
3412 SW 13TH Ave, Portland, OR 97239
MultiFamily, Portland, OR
Property Size4,781 SF
Lot Size0.12 Acres
Price / SF$172.56
Days on Market566
Property Features for 3412 SW 13TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 5, Bathroom 3, Bedroom 7, Bedroom 3, Bedroom 4, Bedroom 8, Bedroom 6, Bathroom 4, Bedroom 2
Subdivision
SW HILLS
View
Territorial
Elementary school
Ainsworth
Middle school
West Sylvan
High school
Lincoln
Directions
From SW 6th turn South onto SW 13th. House is at the end of the street on the left.
Standard status
Active
APN
R247211
Size
4,781 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
PORTLAND CITY HMSTD, BLOCK 57, LOT 7
Tax Annual Amount
13397
Legal Description
PORTLAND CITY HMSTD, BLOCK 57, LOT 7
Utilities
Heating system
Forced Air
Building Details
Year built
1950
Floors in Building
3
Number of units
2
Roof type
Metal
Listing Agency:
Keller Williams Realty Professionals
(503) 546-9955
Listed By:
Zachary Eaton · License #201206055
(503) 349-7037
Added: Feb 7, 2025
Changed: Aug 19
Last Checked: Aug 27 at 12:06AM
MLS# 596525215
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 duplex includes two distinct living areas, with the lower level unit offering a separate entrance, full kitchen, dining area, laundry room, and a spacious living room with a fireplace. The upper main portion features six bedrooms, four full bathrooms, a bonus room, a family room with a fireplace, and a spacious kitchen with an adjacent dining room.
Set on a low-maintenance 0.12-acre lot, the property has territorial views and is surrounded by trees. The home was built in 1950 and has forced-air heating and a metal roof.
Recent updates include new paint inside and out, a kitchen refresh with appliances, updated light fixtures, new carpet, refinished wood floors, a new furnace, and a mini-split. The zoning is R5.
Set on a low-maintenance 0.12-acre lot, the property has territorial views and is surrounded by trees. The home was built in 1950 and has forced-air heating and a metal roof.
Recent updates include new paint inside and out, a kitchen refresh with appliances, updated light fixtures, new carpet, refinished wood floors, a new furnace, and a mini-split. The zoning is R5.
Key Highlights
- 0.12‑acre low‑maintenance lot with territorial views
- Separate entrance for the lower level unit plus full kitchen and laundry room
- Main level: six bedrooms and four full bathrooms
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
$66,626
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
8.08%
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%
$1,332,520
$1.3M
Cap Rate 7%
$951,800
$951.8K
Cap Rate 9%
$740,289
$740.3K
Market Conditions
NOI Build-Up for 4,781 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
$100.4K $21.00/SF
− Vacancy
−$5.2K −$1.09/SF
EGI
$95.2K $19.91/SF
− OpEx
−$28.6K −$5.97/SF
NOI
$66.6K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$1,332,520
Cap Rate 7%
$951,800
Cap Rate 9%
$740,289
Alternative Uses
Best Use
Multifamily LT 5
$951.8K
$832.8K – $1.11M
NOI $66,626 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$877.0K
$767.4K – $1.02M
NOI $61,388 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.34M
$1.17M – $1.57M
NOI $93,984 @ 7.0% cap · market cap 11.39%
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
4,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
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 - Duplex on a low-maintenance lot with a separate lower-level unit featuring a full kitchen and living space.
Where is this duplex located?
The property is located at 3412 SW 13TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 0.12‑acre low‑maintenance lot with territorial views; Separate entrance for the lower level unit plus full kitchen and laundry room; Main level: six bedrooms and four full bathrooms
