Duplex with Basement Bonus
For Sale
$545,000
1040 N AINSWORTH St, Portland, OR 97217
MultiFamily, Portland, OR
Property Size2,640 SF
Lot Size0.12 Acres
Price / SF$206.44
Days on Market98
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Property Features for 1040 N AINSWORTH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
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
Gravity, Forced Air
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: Jul 10
Changed: Oct 10
Last Checked: Oct 15 at 1:06PM
MLS# 750201651
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.
Built in 1924, this duplex contains 2,640 square feet across two one-bedroom units. Each unit includes a bathroom, a basement bonus room, private laundry, and storage. A detached garage serves the property, with one parking space positioned in front for each unit. The building has a composition roof and forced-air and gravity heating systems.
The 0.12-acre property is located in Portland’s 97217 ZIP code and is zoned RM2. Nearby destinations listed for the property include Peninsula Park, the Rose Garden, the Yellow MAX line, and New Seasons. The two-unit configuration and separate utility-oriented spaces provide a straightforward residential income property layout.
The 0.12-acre property is located in Portland’s 97217 ZIP code and is zoned RM2. Nearby destinations listed for the property include Peninsula Park, the Rose Garden, the Yellow MAX line, and New Seasons. The two-unit configuration and separate utility-oriented spaces provide a straightforward residential income property layout.
Key Highlights
- Two‑unit duplex with 2,640 square feet
- Each unit includes 1 bedroom, 1 bathroom, and a basement bonus room
- Private laundry and storage provided for both units
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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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 - Two one-bedroom units offer private laundry, storage, and dedicated parking.
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: Two‑unit duplex with 2,640 square feet; Each unit includes 1 bedroom, 1 bathroom, and a basement bonus room; Private laundry and storage provided for both units
