Duplex with Attached
New
For Sale
$540,000
10415 SW 46TH Pl, Portland, OR 97219
MultiFamily, Portland, OR
Property Size2,127 SF
Lot Size0.04 Acres
Price / SF$253.88
Days on Market6
Property Features for 10415 SW 46TH Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-1
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 3
Subdivision
West Portland Park
Elementary school
Markham
Middle school
Jackson
High school
Ida B Wells
Directions
SW Capitol Highway, west on SW Luradel, S on SW 46th Place. At end on left.
Standard status
Active
APN
R680835
Size
2,127 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
LURADEL GARDENS, LOT 4, INC UND INT TRACT A
Tax Annual Amount
7066
Legal Description
LURADEL GARDENS, LOT 4, INC UND INT TRACT A
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private deck
stainless steel appliances
quartz countertops
pantry
kitchen island
washer/dryer
Murphy bed
central air conditioning
mini-split HVAC
walk-in closet
soaking tub
glass-enclosed shower
Building Details
Year built
2018
Floors in Building
3
Number of units
2
Roof type
Composition, Flat
Listing Agency:
Keller Williams Realty Professionals
(503) 546-9955
Listed By:
Andrew Berlinberg · License #200201085
(503) 780-5625
Added: Sep 17
Last Checked: Sep 22 at 7:06PM
MLS# 287693704
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 2018, this 2,127-square-foot duplex combines a three-bedroom, two-bath upper residence with a ground-floor studio. The upper unit offers an open kitchen and living area, quartz surfaces, a pantry, private deck, and a primary suite with a soaking tub, dual-head glass shower, walk-in closet, and dual-sink vanity. The studio includes a full kitchen, full bathroom, Murphy bed, and dedicated washer and dryer.
Each unit has its own HVAC equipment, with forced-air heating and central air serving the upper residence and a minisplit serving the studio. Additional improvements include luxury vinyl plank flooring, new carpet and interior paint, two electrical panels, and an attached garage wired for EV charging. The property is zoned RM-1 and includes 0.04 acres.
Each unit has its own HVAC equipment, with forced-air heating and central air serving the upper residence and a minisplit serving the studio. Additional improvements include luxury vinyl plank flooring, new carpet and interior paint, two electrical panels, and an attached garage wired for EV charging. The property is zoned RM-1 and includes 0.04 acres.
Key Highlights
- 2,127‑square‑foot duplex on 0.04 acres
- 2018 construction with two separately conditioned units
- Upper unit includes 3 bedrooms, 2 full baths, private deck, and primary suite
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
$31,236
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
5.78%
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%
$624,720
$624.7K
Cap Rate 7%
$446,229
$446.2K
Cap Rate 9%
$347,067
$347.1K
Market Conditions
NOI Build-Up for 2,127 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
$47.2K $22.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$44.6K $20.98/SF
− OpEx
−$13.4K −$6.29/SF
NOI
$31.2K $14.69/SF
Area
ZIP 97219
Vacancy
5.50%
Lease Rate
$22.20 /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%
$624,720
Cap Rate 7%
$446,229
Cap Rate 9%
$347,067
Alternative Uses
Best Use
Multifamily LT 5
$446.2K
$390.5K – $520.6K
NOI $31,236 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$393.2K
$344.0K – $458.7K
NOI $27,521 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$597.3K
$522.7K – $696.9K
NOI $41,812 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 97219, OR
42,474
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,630
Density / Sq Mi
$115,525
Median Household Income
$59,178
Median Earnings
$1,603
Median Rent
$651,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately conditioned units include a three-bedroom upper residence and a studio with dedicated laundry.
Where is this duplex located?
The property is located at 10415 SW 46TH Pl Portland, OR.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 2,127‑square‑foot duplex on 0.04 acres; 2018 construction with two separately conditioned units; Upper unit includes 3 bedrooms, 2 full baths, private deck, and primary suite
