Two-Unit Duplex with Separate
For Sale
$1,188,000
11510 SW 61st Ave, Portland, OR 97219
Two independent residences offer flexible living arrangements, private outdoor space, and attached garages.
Property Size3,579 SF
Price / SF$331.94
Days on Market8
Property Features for 11510 SW 61st Ave
General Information
Standard status
Active
Size
3,579 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
MORE Realty
(503) 267-1404
Listed By:
Dita Razzouk · License #201206810
Source:
Rosecityrealtygroup
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 30 at 6:46PM
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 MORE Realty
Investment Insights
Based on property information with market context.
Completed in 2003, this 3,579-square-foot duplex contains two separately addressed homes divided by a double firewall. The 11450 SW Capitol Hwy residence offers a flexible three- or four-bedroom layout with 2.5 bathrooms, 9-foot ceilings, tile flooring, maple cabinetry, granite kitchen counters, two decks, and an attached two-car garage. Its additional entry can support office use, while under-house space provides storage. The second home at 11510 SW 61st Ave includes three bedrooms, two bathrooms, 9-foot ceilings, tile floors, maple cabinetry, two decks, and its own attached two-car garage.
Separate street frontage serves each residence, creating physical independence between the units. Both homes feature decks connected to the primary suites, and the property has wooded outlooks in Southwest Portland. The duplex configuration supports occupancy of one residence while maintaining a distinct second home on the same property.
Separate street frontage serves each residence, creating physical independence between the units. Both homes feature decks connected to the primary suites, and the property has wooded outlooks in Southwest Portland. The duplex configuration supports occupancy of one residence while maintaining a distinct second home on the same property.
Key Highlights
- 3,579‑square‑foot duplex completed in 2003
- Two separately addressed residences divided by a double firewall
- 11450 SW Capitol Hwy offers a flexible 3- or 4‑bedroom, 2.5‑bath layout
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
$52,559
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
4.42%
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%
$1,051,180
$1.1M
Cap Rate 7%
$750,843
$750.8K
Cap Rate 9%
$583,989
$584.0K
Market Conditions
NOI Build-Up for 3,579 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
$79.5K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$75.1K $20.98/SF
− OpEx
−$22.5K −$6.29/SF
NOI
$52.6K $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%
$1,051,180
Cap Rate 7%
$750,843
Cap Rate 9%
$583,989
Alternative Uses
Best Use
Multifamily LT 5
$750.8K
$657.0K – $876.0K
NOI $52,559 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$661.5K
$578.9K – $771.8K
NOI $46,308 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.01M
$879.4K – $1.17M
NOI $70,355 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
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
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 independent residences offer flexible living arrangements, private outdoor space, and attached garages.
Where is this duplex located?
The property is located at 11510 SW 61st Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,188,000.
What are key features of this property?
This property features: 3,579‑square‑foot duplex completed in 2003; Two separately addressed residences divided by a double firewall; 11450 SW Capitol Hwy offers a flexible 3- or 4‑bedroom, 2.5‑bath layout
