Five Detached Homes in St.
For Sale
Contact for pricing
6917 N Bank St, Portland, OR 97203
Five beautifully designed detached homes in the desirable St. Johns neighborhood.
Property Size4,349 SF
Price / SF$416.85
Days on Market688
Property Features for 6917 N Bank St
General Information
Standard status
Active
Size
4,349 SF
Class
A
Property subtype
Multifamily
Zoning
R5
Building Details
Year Built
2024
Buildings
5
Stories
2
Units
5
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
Source:
Crexi
Added: Oct 2, 2024
Changed: Aug 8
Last Checked: Aug 18 at 4:20AM
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 Premiere
Investment Insights
Based on property information with market context.
An opportunity to expand your portfolio with five detached homes, each featuring two bedrooms and 2.1 baths, located in the St. Johns neighborhood. The residences are located 0.3 miles from amenities, including coffee shops, grocery stores, parks, and restaurants. Each home features an open-concept layout with kitchens showcasing cabinetry, tilework, black finishes, and stainless steel appliances. The layout flows from the kitchen to the dining area and living room. Each living room opens to a private yard. Upstairs, there are primary suites and additional bedrooms with natural light. The property is new construction and includes a 1-year builder warranty from a 2025 Builder of the Year award winner and multi-year Street of Dreams builder. The property size is 4349 square feet.
Key Highlights
- Portfolio of 5 detached homes in the desirable St. Johns neighborhood
- New construction with a 1‑year builder warranty from an award‑winning builder (2025 Builder of the Year)
- Each home features 2 bedrooms, 2.1 baths, and an open‑concept 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
$55,841
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
3.08%
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%
$1,116,820
$1.1M
Cap Rate 7%
$797,729
$797.7K
Cap Rate 9%
$620,456
$620.5K
Market Conditions
NOI Build-Up for 4,349 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
$107.0K $24.60/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$101.5K $23.35/SF
− OpEx
−$45.7K −$10.51/SF
NOI
$55.8K $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%
$1,116,820
Cap Rate 7%
$797,729
Cap Rate 9%
$620,456
Alternative Uses
Best Use
Apartment 5plus
$797.7K
$698.0K – $930.7K
NOI $55,841 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,491 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
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?
Multifamily property - Five beautifully designed detached homes in the desirable St. Johns neighborhood.
Where is this multifamily property located?
The property is located at 6917 N Bank St Portland, OR.
What is the asking price?
The asking price for this property is $1,812,900.
What are key features of this property?
This property features: Portfolio of 5 detached homes in the desirable St. Johns neighborhood; New construction with a 1‑year builder warranty from an award‑winning builder (2025 Builder of the Year); Each home features 2 bedrooms, 2.1 baths, and an open‑concept layout
