Two-Unit Townhouse-Style
For Sale
$590,000
101 Cornell Ave, Gladstone, OR 97027
Well-maintained income property with private outdoor areas, attached garages, and established occupancy.
Property Size2,100 SF
Price / SF$280.95
Days on Market49
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
Amenities
private fenced side yard
separate grassy front yards
Building Details
Year Built
1999
Buildings
1
Tenancy
Multi
Listing Agency:
Vitality Home Realty
Listed By:
Melissa Ewbank
(503) 462-1331
Source:
Handrisrealty
Added: Sep 2
Changed: Oct 6
Last Checked: Oct 19 at 7:12AM
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
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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 / Yr
$26,964
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
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
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 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 4.57%
Second Best
Multifamily LT 5
$376.8K
$329.7K – $439.6K
NOI $26,378 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$566.8K
$496.0K – $661.3K
NOI $39,679 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 $590,000.
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
