Two-Unit Duplex with Basement
For Sale
$545,000
1040 N AINSWORTH ST, Portland, OR 97217
Each residence offers private laundry, storage, and dedicated parking near neighborhood parks, transit, and retail.
Property Size2,640 SF
Days on Market98
Property Features for 1040 N AINSWORTH ST
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,505
Amenities
private laundry
storage
Building Details
Building Size
2,640 SF
Year Built
1924
Listing Agency:
Redfin
Listed By:
Pamela Ruble · License #201219138
(360) 931-7560
Source:
Eleeterealestate
Added: Jul 10
Changed: Oct 11
Last Checked: Oct 15 at 8:17AM
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 Redfin
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Investment Insights
Based on property information with market context.
Built in 1924, this 2,640 SF duplex contains two one-bedroom units. Both layouts include a bathroom, an additional basement room, private laundry, and dedicated storage. Each unit also has one parking space positioned in front of the detached garage.
The property is located at 1040 N Ainsworth St in Portland, near Peninsula Park, the Rose Garden, the Yellow MAX line, and New Seasons. The combination of two separate residences, unit-level amenities, off-street parking, and access to nearby parks, transit, and shopping provides a practical multifamily configuration.
The property is located at 1040 N Ainsworth St in Portland, near Peninsula Park, the Rose Garden, the Yellow MAX line, and New Seasons. The combination of two separate residences, unit-level amenities, off-street parking, and access to nearby parks, transit, and shopping provides a practical multifamily configuration.
Key Highlights
- 2,640 SF duplex built in 1924
- Two one‑bedroom units, each with a bathroom
- Each unit includes a basement bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,790
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
947
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
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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 - Each residence offers private laundry, storage, and dedicated parking near neighborhood parks, transit, and retail.
Where is this duplex located?
The property is located at 1040 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: 2,640 SF duplex built in 1924; Two one‑bedroom units, each with a bathroom; Each unit includes a basement bonus room
