Three-Unit Property with RV
For Sale
$635,000
1054 NE FALOMA RD, Portland, OR 97211
Three-unit property with two residential living spaces, a dedicated RV site, and shared laundry.
Property Size1,700 SF
Days on Market177
Property Features for 1054 NE FALOMA RD
General Information
Standard status
Active
Size
1,700 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Cap Rate
6.17%
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,340
Amenities
Greenhouse
vegetable garden
fresh orchard
Shared laundry
drive-through garage
room for chickens or goats
Building Details
Building Size
1,700 SF
Year Built
1935
Construction
Modern Tudor
Listing Agency:
eXp Realty, LLC
Listed By:
Nycole Peraza-LaFave
(360) 521-6000
Source:
Eleeterealestate
Added: Mar 26
Changed: Sep 17
Last Checked: Sep 16 at 11:32PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This three-unit property combines two residential living spaces with a dedicated RV site that includes full hookups and parking. The one-bedroom unit has a private kitchenette, living area, imported stairway, and large private deck. The two-bedroom, two-bath unit features vaulted ceilings, a full kitchen, Brazilian cherry floors, and a primary suite with 17 windows and a Bluetooth shower.
The nearly one-acre property includes a greenhouse, vegetable-garden space, and an orchard with plum, peach, apple, and pear trees. Additional features include shared laundry, a drive-through garage, and room for chickens or goats. There is no HOA. The property is minutes from I-5, Marine Drive, and PDX, and was built in 1935.
The nearly one-acre property includes a greenhouse, vegetable-garden space, and an orchard with plum, peach, apple, and pear trees. Additional features include shared laundry, a drive-through garage, and room for chickens or goats. There is no HOA. The property is minutes from I-5, Marine Drive, and PDX, and was built in 1935.
Key Highlights
- Three‑unit property with two residential units and a dedicated RV space
- Nearly one acre with greenhouse and plum, peach, apple, and pear trees
- RV site includes full hookups and parking; currently occupied by a long‑term renter
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
$23,691
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
3.73%
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%
$473,820
$473.8K
Cap Rate 7%
$338,443
$338.4K
Cap Rate 9%
$263,233
$263.2K
Market Conditions
NOI Build-Up for 1,700 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
$35.7K $21.00/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$33.8K $19.91/SF
− OpEx
−$10.2K −$5.97/SF
NOI
$23.7K $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%
$473,820
Cap Rate 7%
$338,443
Cap Rate 9%
$263,233
Alternative Uses
Best Use
Multifamily LT 5
$338.4K
$296.1K – $394.9K
NOI $23,691 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$311.8K
$272.9K – $363.8K
NOI $21,828 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$477.4K
$417.7K – $557.0K
NOI $33,418 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
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?
Triplex - Three-unit property with two residential living spaces, a dedicated RV site, and shared laundry.
Where is this triplex located?
The property is located at 1054 NE FALOMA RD Portland, OR.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Three‑unit property with two residential units and a dedicated RV space; Nearly one acre with greenhouse and plum, peach, apple, and pear trees; RV site includes full hookups and parking; currently occupied by a long‑term renter
