Duplex with Updated
For Sale
$500,000
1136-1138 Southwest 257th Drive, Troutdale, OR 97060
Two-unit residential property with stainless appliances, improved electrical panels, and established tenant occupancy.
Property Size1,900 SF
Price / SF$263.16
Days on Market117
Property Features for 1136-1138 Southwest 257th Drive
General Information
Standard status
Active
Size
1,900 SF
Total Parking Spaces
4
Property subtype
Multi Family
Zoning
Res
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,362
Amenities
2
Crawl Space, Daylight, Partial Basement
Concrete Perimeter
Composition
Lap Siding
Building Details
Year Built
1979
Listing Agency:
Pellego, LLC
(971) 404-5141
Listed By:
Jeremy Barnett · License #201239532
(971) 404-5141
Source:
Compass
Added: May 7
Changed: Aug 31
Last Checked: Aug 31 at 2:00AM
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 Pellego, LLC
Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex, constructed in 1979, includes two residential units with stainless steel appliances, upgraded electrical panels, and crawl space, daylight, and partial basement areas. The property has a concrete perimeter, composition roofing, and lap siding. Unit 1138 received a new gas furnace in 2023, while the exterior was painted in 2020. A leaf guard gutter system and a roof installed September 26, 2006 are also included.
Located in Troutdale near shopping, dining, and everyday amenities, the property carries Res zoning and offers a two-unit residential configuration with existing residents. Its documented improvements provide a clear overview of recent system and exterior work for prospective purchasers.
Located in Troutdale near shopping, dining, and everyday amenities, the property carries Res zoning and offers a two-unit residential configuration with existing residents. Its documented improvements provide a clear overview of recent system and exterior work for prospective purchasers.
Key Highlights
- 1,900‑square‑foot duplex on Southwest 257th Drive
- Two residential units with stainless steel appliances in both
- New gas furnace installed in Unit 1138 in 2023
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
$27,902
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
5.58%
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%
$558,040
$558.0K
Cap Rate 7%
$398,600
$398.6K
Cap Rate 9%
$310,022
$310.0K
Market Conditions
NOI Build-Up for 1,900 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
$42.2K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$39.9K $20.98/SF
− OpEx
−$12.0K −$6.29/SF
NOI
$27.9K $14.69/SF
Area
Multnomah County, OR
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%
$558,040
Cap Rate 7%
$398,600
Cap Rate 9%
$310,022
Alternative Uses
Best Use
Multifamily LT 5
$398.6K
$348.8K – $465.0K
NOI $27,902 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$348.5K
$305.0K – $406.6K
NOI $24,396 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$512.9K
$448.8K – $598.3K
NOI $35,900 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 97060, OR
21,792
Population
7,823
Households
2.8
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
17.5 sq mi
ZIP Area
1,245
Density / Sq Mi
$84,164
Median Household Income
$42,162
Median Earnings
$1,560
Median Rent
$425,700
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-unit residential property with stainless appliances, improved electrical panels, and established tenant occupancy.
Where is this duplex located?
The property is located at 1136-1138 Southwest 257th Drive Troutdale, OR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,900‑square‑foot duplex on Southwest 257th Drive; Two residential units with stainless steel appliances in both; New gas furnace installed in Unit 1138 in 2023
