Five-Home Multifamily
For Sale
$1,799,900
6917 N Bank St, Portland, OR 97203
MULTI_FAMILY - Portland, OR
Property Size4,349 SF
Price / SF$413.87
Days on Market681
Property Features for 6917 N Bank St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
4
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bathroom 4, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3
Subdivision
ST JOHNS
Elementary school
James John
Middle school
George
High school
Roosevelt
Directions
N Columbia Blvd, E on N Bank St
Standard status
Active
APN
New Construction
Size
4,349 SF
Utilities
Cooling system
Heat Pump
Building Details
Year built
2024
Floors in Building
2
Number of units
5
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Oct 1, 2024
Changed: Aug 12
Last Checked: Aug 12 at 1:06PM
MLS# 24513832
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 property is a five-home multifamily setup featuring detached residences, each with two bedrooms and 2.1 baths. The homes are described as having an open-concept layout with bedrooms and primary suites upstairs. Each living room opens to a private yard space.
Located at 6917 N Bank St in Portland’s St. Johns neighborhood (97203), the property is described as being about 0.3 miles from nearby amenities including coffee shops, grocery stores, parks, and restaurants. The homes are new construction with a 1-year builder warranty provided in the remarks.
Additional physical features noted include heat pump cooling and a composition roof. The property is listed with a total size of 4,349 square feet and a 2024 year built date.
Located at 6917 N Bank St in Portland’s St. Johns neighborhood (97203), the property is described as being about 0.3 miles from nearby amenities including coffee shops, grocery stores, parks, and restaurants. The homes are new construction with a 1-year builder warranty provided in the remarks.
Additional physical features noted include heat pump cooling and a composition roof. The property is listed with a total size of 4,349 square feet and a 2024 year built date.
Key Highlights
- Five detached homes, each with two bedrooms and 2.1 baths
- Zoned R5
- Year built 2024
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
$55,841
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
3.10%
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%
$1,116,820
$1.1M
Cap Rate 7%
$797,729
$797.7K
Cap Rate 9%
$620,456
$620.5K
Market Conditions
NOI Build-Up for 4,349 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
$107.0K $24.60/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$101.5K $23.35/SF
− OpEx
−$45.7K −$10.51/SF
NOI
$55.8K $12.84/SF
Area
Portland, 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%
$1,116,820
Cap Rate 7%
$797,729
Cap Rate 9%
$620,456
Alternative Uses
Best Use
Apartment 5plus
$797.7K
$698.0K – $930.7K
NOI $55,841 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,491 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
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?
Apartment building - Five detached homes in zoning R5 built in 2024 with heat pump cooling and composition roofing.
Where is this apartment building located?
The property is located at 6917 N Bank St Portland, OR.
What is the asking price?
The asking price for this property is $1,799,900.
What are key features of this property?
This property features: Five detached homes, each with two bedrooms and 2.1 baths; Zoned R5; Year built 2024
