Two-Unit Townhouse-Style
New
For Sale
$600,000
101 CORNELL AVE, Gladstone, OR 97027
Well-maintained income property with private outdoor areas, attached garages, and established occupancy.
Property Size2,100 SF
Days on Market4
Property Features for 101 CORNELL AVE
General Information
Standard status
Active
Size
2,100 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$7,399
Amenities
private fenced side yard
separate grassy front yards
Building Details
Building Size
2,100 SF
Year Built
1999
Buildings
1
Tenancy
Multi
Listing Agency:
Vitality Home Realty
Listed By:
Melissa Ewbank
(503) 462-1331
Source:
Eleeterealestate
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vitality Home Realty
Investment Insights
Based on property information with market context.
Built in 1999, this duplex contains two townhouse-style residences with functional layouts and separate outdoor areas. Each unit offers two bedrooms, one and a half bathrooms, an attached one-car garage, a fenced side yard, and a separate grassy front yard. The property has been maintained by a single owner and is occupied by long-term tenants. Tenants pay all utilities, supporting a straightforward operating structure.
Located at 101 Cornell Ave in Gladstone, the property is positioned near the Clackamas River and downtown Gladstone, with schools, parks, shopping, dining, and daily amenities nearby. The combination of established tenancy, individual garages, and private yard space provides practical residential features for both units.
Located at 101 Cornell Ave in Gladstone, the property is positioned near the Clackamas River and downtown Gladstone, with schools, parks, shopping, dining, and daily amenities nearby. The combination of established tenancy, individual garages, and private yard space provides practical residential features for both units.
Key Highlights
- Two‑unit duplex built in 1999
- Each unit includes 2 bedrooms and 1.5 bathrooms
- Attached one‑car garage for each residence
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
$26,964
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
4.49%
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%
$539,280
$539.3K
Cap Rate 7%
$385,200
$385.2K
Cap Rate 9%
$299,600
$299.6K
Market Conditions
NOI Build-Up for 2,100 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
$51.7K $24.60/SF
− Vacancy
−$2.6K −$1.25/SF
EGI
$49.0K $23.35/SF
− OpEx
−$22.1K −$10.51/SF
NOI
$27.0K $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%
$539,280
Cap Rate 7%
$385,200
Cap Rate 9%
$299,600
Alternative Uses
Best Use
Apartment 5plus
$385.2K
$337.1K – $449.4K
NOI $26,964 @ 7.0% cap · market cap 4.49%
Second Best
Multifamily LT 5
$376.8K
$329.7K – $439.6K
NOI $26,378 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$566.8K
$496.0K – $661.3K
NOI $39,679 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 97027, OR
12,599
Population
5,365
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
5,040
Density / Sq Mi
$91,957
Median Household Income
$49,689
Median Earnings
$1,721
Median Rent
$464,700
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 - Well-maintained income property with private outdoor areas, attached garages, and established occupancy.
Where is this duplex located?
The property is located at 101 CORNELL AVE Gladstone, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1999; Each unit includes 2 bedrooms and 1.5 bathrooms; Attached one‑car garage for each residence
