Duplex with Private
New
For Sale
$875,000
1318 SE PALM St, Portland, OR 97214
MultiFamily, Portland, OR
Property Size2,800 SF
Lot Size0.11 Acres
Price / SF$312.50
Days on Market3
Property Features for 1318 SE PALM St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Subdivision
LADD'S ADDITION
Elementary school
Abernethy
Middle school
Hosford
High school
Cleveland
Directions
On Corner Corner at Ladd Mulberry Alley
Standard status
Active
APN
R200271
Size
2,800 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LADDS ADD, BLOCK 9, NELY 60' OF LOT 1&4
Tax Annual Amount
10673
Legal Description
LADDS ADD, BLOCK 9, NELY 60' OF LOT 1&4
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
fireplace
hardwood floors
basement
built-ins
eat-in kitchen
Building Details
Year built
1924
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
RE/MAX Equity Group · RE/MAX International
(503) 287-8989
Listed By:
Jewel Robinson · License #921100001
(503) 708-9508
Added: Sep 25
Changed: Sep 27
Last Checked: Sep 27 at 1:06PM
MLS# 681435404
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1924, this 2,800-square-foot duplex contains two mirrored residences, each with two bedrooms, one full bathroom, hardwood floors, a fireplace, and a dedicated basement. One fireplace is gas-fired and the other is wood-burning. Basement areas include office space. One residence has formal living and dining rooms with built-ins; the other features an eat-in kitchen. A range, dishwasher, refrigerator, and microwave are included. One unit is occupied, while the other is vacant.
The property occupies a 0.11-acre lot and is zoned R-5. Building systems include forced-air heating and central air conditioning, with a composition roof. The Hawthorne and Division districts are a few blocks away, with cafes, wine shops, restaurants, grocery stores, and a movie theater among the nearby businesses and amenities.
The property occupies a 0.11-acre lot and is zoned R-5. Building systems include forced-air heating and central air conditioning, with a composition roof. The Hawthorne and Division districts are a few blocks away, with cafes, wine shops, restaurants, grocery stores, and a movie theater among the nearby businesses and amenities.
Key Highlights
- Two mirrored units, each with 2 bedrooms and 1 full bathroom
- 2,800‑square‑foot duplex built in 1924
- Each residence has its own basement and fireplace; one fireplace is gas and one is wood‑burning
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
$39,020
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
4.46%
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%
$780,400
$780.4K
Cap Rate 7%
$557,429
$557.4K
Cap Rate 9%
$433,556
$433.6K
Market Conditions
NOI Build-Up for 2,800 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
$58.8K $21.00/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$55.7K $19.91/SF
− OpEx
−$16.7K −$5.97/SF
NOI
$39.0K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$780,400
Cap Rate 7%
$557,429
Cap Rate 9%
$433,556
Alternative Uses
Best Use
Multifamily LT 5
$557.4K
$487.8K – $650.3K
NOI $39,020 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$513.6K
$449.4K – $599.2K
NOI $35,952 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$786.3K
$688.0K – $917.4K
NOI $55,042 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
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?
Duplex - Two mirrored residences offer separate basements, fireplaces, and distinct interior features.
Where is this duplex located?
The property is located at 1318 SE PALM St Portland, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two mirrored units, each with 2 bedrooms and 1 full bathroom; 2,800‑square‑foot duplex built in 1924; Each residence has its own basement and fireplace; one fireplace is gas and one is wood‑burning
