Two-Unit Duplex with Basement Bonus
For Sale
$545,000
1036 N AINSWORTH St, Portland, OR 97217
MULTI_FAMILY - Portland, OR
Property Size2,640 SF
Lot Size0.12 Acres
Price / SF$206.44
Days on Market52
Property Features for 1036 N AINSWORTH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Subdivision
North Albina
Elementary school
Chief Joseph
Middle school
Ockley Green
High school
Jefferson
Directions
Corner of N Ainsworth and N Missouri
Standard status
Active
APN
R226270
Size
2,640 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
NORTH ALBINA, BLOCK 25, LOT 1
Tax Annual Amount
3505
Legal Description
NORTH ALBINA, BLOCK 25, LOT 1
Utilities
Heating system
Forced Air, Gravity
Amenities
private laundry
storage
Building Details
Year built
1924
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Redfin
(503) 496-7620
Listed By:
Pamela Ruble · License #201219138
(360) 931-7560
Added: Jun 24
Changed: Aug 13
Last Checked: Aug 14 at 10:06AM
MLS# 299699739
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.
Located at 1036 N Ainsworth St in Portland, this two-unit duplex was built in 1924 and sits on a 0.12-acre lot. The property totals 2,640 SF and is zoned RM2. Each unit is a one-bedroom layout and includes a bathroom plus a basement bonus room, along with private laundry and storage.
For parking, each unit has a dedicated parking space in front of the detached garage. The home is heated with gravity and forced air systems, and the roof is composition.
The duplex is just blocks from Peninsula Park, the Rose Garden, the Yellow MAX line, and New Seasons. Interior photos were taken prior to tenants’ occupancy, so please do not disturb tenants.
For parking, each unit has a dedicated parking space in front of the detached garage. The home is heated with gravity and forced air systems, and the roof is composition.
The duplex is just blocks from Peninsula Park, the Rose Garden, the Yellow MAX line, and New Seasons. Interior photos were taken prior to tenants’ occupancy, so please do not disturb tenants.
Key Highlights
- Zoned RM2 duplex on 0.12‑acre lot (2,640 SF) built in 1924
- Two one‑bedroom units, each with a bathroom and basement bonus room
- Private laundry and storage in each unit
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
$36,790
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
6.75%
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%
$735,800
$735.8K
Cap Rate 7%
$525,571
$525.6K
Cap Rate 9%
$408,778
$408.8K
Market Conditions
NOI Build-Up for 2,640 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
$55.4K $21.00/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$52.6K $19.91/SF
− OpEx
−$15.8K −$5.97/SF
NOI
$36.8K $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%
$735,800
Cap Rate 7%
$525,571
Cap Rate 9%
$408,778
Alternative Uses
Best Use
Multifamily LT 5
$525.6K
$459.9K – $613.2K
NOI $36,790 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$484.3K
$423.7K – $565.0K
NOI $33,898 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$741.4K
$648.7K – $864.9K
NOI $51,896 @ 7.0% cap · market cap 9.52%
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
960
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 - Two one-bedroom units with private laundry and storage, plus basement bonus rooms, zoned RM2 on a 0.12-acre site.
Where is this duplex located?
The property is located at 1036 N AINSWORTH St Portland, OR.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Zoned RM2 duplex on 0.12‑acre lot (2,640 SF) built in 1924; Two one‑bedroom units, each with a bathroom and basement bonus room; Private laundry and storage in each unit
