Side-by-Side Duplex With Private
New
For Sale
$693,936
7207 N ALBINA Ave, Portland, OR 97217
MultiFamily, Portland, OR
Property Size2,952 SF
Lot Size0.13 Acres
Price / SF$235.07
Days on Market4
Property Features for 7207 N ALBINA Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1
Subdivision
Piedmont
Elementary school
Woodlawn
Middle school
Ockley Green
High school
Jefferson
Directions
From North Lombard, South to North Albina
Standard status
Active
APN
R225591
Size
2,952 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
NEWMARKET ROW, BLOCK 3, LOT 5-8
Tax Annual Amount
4871
Legal Description
NEWMARKET ROW, BLOCK 3, LOT 5-8
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
private yards
solar
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Living Room Realty
(503) 719-5588
Listed By:
Kimberly Parmon
(503) 438-5101
Added: Aug 20
Changed: Aug 22
Last Checked: Aug 23 at 12:06PM
MLS# 562656944
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 2,952-square-foot duplex, built in 1958, contains two side-by-side residences with separate private outdoor areas and garage access. Unit 7211 offers three bedrooms, one and a half bathrooms, in-unit laundry, an attached garage, and a wrap-around yard with fruiting trees. Unit 7207 includes two bedrooms, one bathroom, in-unit laundry, storage, a private yard, and interior access to the lower level. A second rentable garage provides an additional income component.
The property includes a separate unfinished basement beneath Unit 7207 with its own exterior entrance. The space has been framed and equipped with professionally installed floor drains and a backflow valve, while interior access creates flexibility for future configuration. Original hardwood floors, tray ceilings, vintage cabinetry, and millwork are complemented by added insulation, solar, and newer heat pump water heaters. RM1 zoning applies to the 0.13-acre site at 7207 N ALBINA Ave in Portland’s Piedmont area, near New Seasons Market, Peninsula Park, and the shops and restaurants along Denver and Mississippi Avenues.
The property includes a separate unfinished basement beneath Unit 7207 with its own exterior entrance. The space has been framed and equipped with professionally installed floor drains and a backflow valve, while interior access creates flexibility for future configuration. Original hardwood floors, tray ceilings, vintage cabinetry, and millwork are complemented by added insulation, solar, and newer heat pump water heaters. RM1 zoning applies to the 0.13-acre site at 7207 N ALBINA Ave in Portland’s Piedmont area, near New Seasons Market, Peninsula Park, and the shops and restaurants along Denver and Mississippi Avenues.
Key Highlights
- 2,952‑square‑foot duplex on a 0.13‑acre lot
- Two side‑by‑side units: 3 bedrooms/1.5 baths and 2 bedrooms/1 bath
- Separate private yards, including a wrap‑around yard with fruiting trees
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
$41,138
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
5.93%
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%
$822,760
$822.8K
Cap Rate 7%
$587,686
$587.7K
Cap Rate 9%
$457,089
$457.1K
Market Conditions
NOI Build-Up for 2,952 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
$62.0K $21.00/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$58.8K $19.91/SF
− OpEx
−$17.6K −$5.97/SF
NOI
$41.1K $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%
$822,760
Cap Rate 7%
$587,686
Cap Rate 9%
$457,089
Alternative Uses
Best Use
Multifamily LT 5
$587.7K
$514.2K – $685.6K
NOI $41,138 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$541.5K
$473.8K – $631.7K
NOI $37,904 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$829.0K
$725.4K – $967.2K
NOI $58,030 @ 7.0% cap · market cap 8.36%
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
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
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 - Maintained two-unit property with garages, separate yards, solar, and an unfinished basement prepared for future completion.
Where is this duplex located?
The property is located at 7207 N ALBINA Ave Portland, OR.
What is the asking price?
The asking price for this property is $693,936.
What are key features of this property?
This property features: 2,952‑square‑foot duplex on a 0.13‑acre lot; Two side‑by‑side units: 3 bedrooms/1.5 baths and 2 bedrooms/1 bath; Separate private yards, including a wrap‑around yard with fruiting trees
