R1 Residential Income
New
For Sale
$415,000
11885 SE PINE ST, Portland, OR 97216
R1-zoned residential income property with carport parking and baseboard heating.
Property Size1,636 SF
Days on Market6
Property Features for 11885 SE PINE ST
General Information
Standard status
Active
Size
1,636 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R1
Taxes and HOA fees
Annual Taxes
$5,883
Amenities
Baseboard, Zoned
Carport, On Street
Building Details
Building Size
1,636 SF
Year Built
2005
Stories
3
Listing Agency:
Keller Williams Realty Portland Central
(503) 200-8257
Listed By:
Joe Liu
(503) 200-8257
Source:
Evrealestate
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 6:45AM
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 Keller Williams Realty Portland Central
Investment Insights
Based on property information with market context.
This residential income property was built in 2005 and carries R1 zoning. Interior features include baseboard heating with zoned controls, while exterior parking consists of a carport and on-street spaces.
The property is located at 11885 SE Pine St in Portland, Oregon 97216. Directions run from Stark to northbound 117th, then east on Pine, with street parking directly in front. The property is in Multnomah County.
The property is located at 11885 SE Pine St in Portland, Oregon 97216. Directions run from Stark to northbound 117th, then east on Pine, with street parking directly in front. The property is in Multnomah County.
Key Highlights
- Built in 2005
- R1 zoning
- Baseboard heating with zoned controls
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
$21,006
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
5.06%
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%
$420,120
$420.1K
Cap Rate 7%
$300,086
$300.1K
Cap Rate 9%
$233,400
$233.4K
Market Conditions
NOI Build-Up for 1,636 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
$40.2K $24.60/SF
− Vacancy
−$2.1K −$1.25/SF
EGI
$38.2K $23.35/SF
− OpEx
−$17.2K −$10.51/SF
NOI
$21.0K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$420,120
Cap Rate 7%
$300,086
Cap Rate 9%
$233,400
Alternative Uses
Best Use
Apartment 5plus
$300.1K
$262.6K – $350.1K
NOI $21,006 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$459.4K
$402.0K – $536.0K
NOI $32,160 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - R1-zoned residential income property with carport parking and baseboard heating.
Where is this residential income property located?
The property is located at 11885 SE PINE ST Portland, OR.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Built in 2005; R1 zoning; Baseboard heating with zoned controls
