Two-Story Duplex with Attached
For Sale
$949,900
5137 SE Aldona Ct, Milwaukie, OR 97267
MULTI_FAMILY - Milwaukie, OR
Property Size2,970 SF
Lot Size0.23 Acres
Price / SF$319.83
Days on Market175
Property Features for 5137 SE Aldona Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R10
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 6, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 3
Subdivision
OAK GROVE COMMUNITY COUNCIL
Elementary school
View Acres
Middle school
Alder Creek
High school
Putnam
Directions
Use 15500 SE Wallace Rd, Milwaukie on Maps to Reach Community. Drive on SE Aldona Ct, take first R
Standard status
Active
APN
New Construction
Size
2,970 SF
Lot size
0.23 Acres
Utilities
Heating system
Forced Air
Amenities
covered front porch
private patio
fenced yard
laundry room
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Feb 18
Changed: Aug 12
Last Checked: Aug 12 at 1:06PM
MLS# 235041833
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.
New two-story duplex under construction as part of Robbins Place, a thoughtfully planned new 29-unit community in Milwaukie. Built in 2026, each side offers three bedrooms and two and a half bathrooms with 1,472 square feet of efficiently designed living space, plus a one-car attached garage. A covered front porch welcomes you home, and the main level’s open-concept kitchen, dining, and living areas flow to a sliding door that opens to a private patio and private, fenced yard. A half bathroom serves guests on the main floor. Upstairs, all three bedrooms are located on the same level, including a spacious primary suite with its own bathroom and walk-in closet, along with a full laundry room.
The duplex is built for separation between units, featuring a double-framed common wall with a one-inch air gap and insulation between units. Heating is forced air, and the roof is composition.
Set on a 0.23-acre lot in Clackamas County with R10 zoning, the property is located near Milwaukie Bay Park and the Willamette River waterfront (~1.5 mi) and about 1.5 to 1.7 mi from downtown Milwaukie shops and dining, New Seasons Market, and the Milwaukie/Main Street MAX Station, with quick access to SE McLoughlin Blvd.
The duplex is built for separation between units, featuring a double-framed common wall with a one-inch air gap and insulation between units. Heating is forced air, and the roof is composition.
Set on a 0.23-acre lot in Clackamas County with R10 zoning, the property is located near Milwaukie Bay Park and the Willamette River waterfront (~1.5 mi) and about 1.5 to 1.7 mi from downtown Milwaukie shops and dining, New Seasons Market, and the Milwaukie/Main Street MAX Station, with quick access to SE McLoughlin Blvd.
Key Highlights
- Under construction, built in 2026, two‑story duplex in a new Robbins Place community
- Each side offers three bedrooms and two and a half bathrooms with 1,472 SF plus a one‑car attached garage
- Private patio and private, fenced yard off the back of each home via a sliding door
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
$38,135
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
4.01%
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%
$762,700
$762.7K
Cap Rate 7%
$544,786
$544.8K
Cap Rate 9%
$423,722
$423.7K
Market Conditions
NOI Build-Up for 2,970 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
$73.1K $24.60/SF
− Vacancy
−$3.7K −$1.25/SF
EGI
$69.3K $23.35/SF
− OpEx
−$31.2K −$10.51/SF
NOI
$38.1K $12.84/SF
Area
Clackamas 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%
$762,700
Cap Rate 7%
$544,786
Cap Rate 9%
$423,722
Alternative Uses
Best Use
Apartment 5plus
$544.8K
$476.7K – $635.6K
NOI $38,135 @ 7.0% cap · market cap 4.01%
Second Best
Multifamily LT 5
$532.9K
$466.3K – $621.8K
NOI $37,306 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$801.7K
$701.5K – $935.3K
NOI $56,117 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 97267, OR
31,851
Population
12,983
Households
2.5
Avg Household Size
45
Median Age
35%
College-Educated
93%
High-School Grad
7.2 sq mi
ZIP Area
4,424
Density / Sq Mi
$85,178
Median Household Income
$47,236
Median Earnings
$1,607
Median Rent
$489,100
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 - Under-construction two-side duplex in R10 zoning, each unit with three bedrooms, two and a half baths, and attached garage.
Where is this duplex located?
The property is located at 5137 SE Aldona Ct Milwaukie, OR.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Under construction, built in 2026, two‑story duplex in a new Robbins Place community; Each side offers three bedrooms and two and a half bathrooms with 1,472 SF plus a one‑car attached garage; Private patio and private, fenced yard off the back of each home via a sliding door
