Triplex with Private
For Sale
$550,000
170 SW Levens St, Dallas, OR 97338
Well-maintained tri-plex where each unit has in-unit laundry and a private patio accessible from the rear.
Property Size2,538 SF
Price / SF$216.71
Days on Market51
Property Features for 170 SW Levens St
General Information
Standard status
Active
Size
2,538 SF
Property subtype
Multi-Family
Amenities
in-unit laundry
private patio
Building Details
Year Built
1992
Buildings
1
Tenancy
Multi
Listing Agency:
KELLY RIGHT REAL ESTATE
Listed By:
HEIDI JOHNSON · License #200505228
(541) 992-4656
Source:
Amymcleod
Added: Jul 29
Changed: Sep 11
Last Checked: Sep 15 at 9:46PM
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 KELLY RIGHT REAL ESTATE
Investment Insights
Based on property information with market context.
Well-maintained tri-plex built in 1992 featuring spacious layouts in each unit. Every unit offers two bedrooms, one full bathroom, in-unit laundry, a spacious living room, and a generous kitchen. Residents can also enjoy a private patio, accessible from the rear entrance.
The property is located in the heart of Dallas, positioned across from Lyle Elementary School and near parks, shopping, dining, and public transit.
Long-term tenants are in place, providing established occupancy for a buyer seeking a multi-family residence with rental continuity.
The property is located in the heart of Dallas, positioned across from Lyle Elementary School and near parks, shopping, dining, and public transit.
Long-term tenants are in place, providing established occupancy for a buyer seeking a multi-family residence with rental continuity.
Key Highlights
- Built in 1992 well‑maintained tri‑plex
- Each unit includes two bedrooms and one full bathroom
- In‑unit laundry in every 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
$30,482
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
5.54%
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%
$609,640
$609.6K
Cap Rate 7%
$435,457
$435.5K
Cap Rate 9%
$338,689
$338.7K
Market Conditions
NOI Build-Up for 2,538 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
$46.6K $18.36/SF
− Vacancy
−$3.1K −$1.20/SF
EGI
$43.5K $17.16/SF
− OpEx
−$13.1K −$5.15/SF
NOI
$30.5K $12.01/SF
Area
Polk County, OR
Vacancy
6.55%
Lease Rate
$18.36 /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%
$609,640
Cap Rate 7%
$435,457
Cap Rate 9%
$338,689
Alternative Uses
Best Use
Multifamily LT 5
$435.5K
$381.0K – $508.0K
NOI $30,482 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$401.0K
$350.9K – $467.9K
NOI $28,071 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$673.9K
$589.6K – $786.2K
NOI $47,170 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
865
Businesses Nearby
Explore this area
Business Placement
Demographics for 97338, OR
22,741
Population
9,109
Households
2.5
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
124.8 sq mi
ZIP Area
182
Density / Sq Mi
$73,345
Median Household Income
$37,359
Median Earnings
$1,197
Median Rent
$388,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Well-maintained tri-plex where each unit has in-unit laundry and a private patio accessible from the rear.
Where is this triplex located?
The property is located at 170 SW Levens St Dallas, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Built in 1992 well‑maintained tri‑plex; Each unit includes two bedrooms and one full bathroom; In‑unit laundry in every unit
