Two-Unit Duplex with Private
New
For Sale
$627,777
12245 SE Whitcomb Dr, Milwaukie, OR 97222
Each residence has a two-bedroom layout, its own utilities, and an oversized two-car garage with additional storage.
Property Size2,564 SF
Price / SF$244.84
Days on Market5
Property Features for 12245 SE Whitcomb Dr
General Information
Standard status
Active
Size
2,564 SF
Property subtype
Multi-Family
Building Details
Year Built
1998
Listing Agency:
Real Estate Performance Group
Listed By:
Michael Fuller · License #249198
(865) 909-7471
Source:
Wyndeekono
Added: Sep 30
Last Checked: Oct 4 at 11:09AM
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 Real Estate Performance Group
Investment Insights
Based on property information with market context.
Built in 1998, this duplex contains 2,564 square feet across two residences, each with two bedrooms and two bathrooms. Both units feature vaulted great-room layouts, wood laminate and hardwood flooring, and separate utilities. A private deck extends from each primary bedroom; front decks offer views of the lake. Each residence also includes a primary bathroom with a walk-through closet, an oversized two-car garage, and additional storage.
The property is located a few blocks from TriMet and MAX service and downtown Milwaukie. The address is 12245 SE Whitcomb Dr, Milwaukie, OR 97222.
The property is located a few blocks from TriMet and MAX service and downtown Milwaukie. The address is 12245 SE Whitcomb Dr, Milwaukie, OR 97222.
Key Highlights
- Two units, each with 2 bedrooms and 2 bathrooms
- 2,564 square feet; built in 1998
- Separate utilities and an oversized double‑car garage for each unit
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
$32,922
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
5.24%
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%
$658,440
$658.4K
Cap Rate 7%
$470,314
$470.3K
Cap Rate 9%
$365,800
$365.8K
Market Conditions
NOI Build-Up for 2,564 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
$63.1K $24.60/SF
− Vacancy
−$3.2K −$1.25/SF
EGI
$59.9K $23.35/SF
− OpEx
−$26.9K −$10.51/SF
NOI
$32.9K $12.84/SF
Area
Clackamas County, 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%
$658,440
Cap Rate 7%
$470,314
Cap Rate 9%
$365,800
Alternative Uses
Best Use
Apartment 5plus
$470.3K
$411.5K – $548.7K
NOI $32,922 @ 7.0% cap · market cap 5.24%
Second Best
Multifamily LT 5
$460.1K
$402.6K – $536.8K
NOI $32,207 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$692.1K
$605.6K – $807.4K
NOI $48,446 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 97222, OR
36,316
Population
16,910
Households
2.1
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
8.6 sq mi
ZIP Area
4,223
Density / Sq Mi
$77,441
Median Household Income
$48,298
Median Earnings
$1,592
Median Rent
$465,100
Median Home Value
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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 - Each residence has a two-bedroom layout, its own utilities, and an oversized two-car garage with additional storage.
Where is this duplex located?
The property is located at 12245 SE Whitcomb Dr Milwaukie, OR.
What is the asking price?
The asking price for this property is $627,777.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 2 bathrooms; 2,564 square feet; built in 1998; Separate utilities and an oversized double‑car garage for each unit
