Side-by-Side Duplex with Attached
For Sale
$429,900
7245 NE Prescott St, Portland, OR 97218
Two one-bedroom units include laundry, storage, bonus space, and large attached garages.
Property Size1,144 SF
Price / SF$375.79
Days on Market42
Property Features for 7245 NE Prescott St
General Information
Standard status
Active
Size
1,144 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R7
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry
storage
Building Details
Year Built
1947
Listing Agency:
Neighborhood Works
(503) 239-6577
Listed By:
Jarrett Altman
Source:
Evokepropertypartners
Added: Jul 21
Changed: Aug 27
Last Checked: Aug 30 at 6:55PM
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 Neighborhood Works
Investment Insights
Based on property information with market context.
Built in 1947, this side-by-side duplex contains two one-bedroom, one-bath residences with mirrored layouts. Each unit includes laundry and storage areas, bonus space, and a large attached garage. The property encompasses over a third of an acre and is zoned R7, with additional space identified for expansion into garage or storage areas or for new construction on the site.
One residence is occupied by the owner, while the other has a long-term tenant. The property is located at 7245 NE Prescott St in Portland, Oregon, near the 97218 postal area. Interior access to the tenant-occupied unit is subject to inspection arrangements.
One residence is occupied by the owner, while the other has a long-term tenant. The property is located at 7245 NE Prescott St in Portland, Oregon, near the 97218 postal area. Interior access to the tenant-occupied unit is subject to inspection arrangements.
Key Highlights
- Side‑by‑side duplex with two 1‑bedroom, 1‑bath units
- Over a third of an acre
- Each unit includes laundry and storage areas
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
$15,942
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
3.71%
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%
$318,840
$318.8K
Cap Rate 7%
$227,743
$227.7K
Cap Rate 9%
$177,133
$177.1K
Market Conditions
NOI Build-Up for 1,144 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
$24.0K $21.00/SF
− Vacancy
−$1.2K −$1.09/SF
EGI
$22.8K $19.91/SF
− OpEx
−$6.8K −$5.97/SF
NOI
$15.9K $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%
$318,840
Cap Rate 7%
$227,743
Cap Rate 9%
$177,133
Alternative Uses
Best Use
Multifamily LT 5
$227.7K
$199.3K – $265.7K
NOI $15,942 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.8K
NOI $14,689 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$321.3K
$281.1K – $374.8K
NOI $22,488 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
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?
Duplex - Two one-bedroom units include laundry, storage, bonus space, and large attached garages.
Where is this duplex located?
The property is located at 7245 NE Prescott St Portland, OR.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Side‑by‑side duplex with two 1‑bedroom, 1‑bath units; Over a third of an acre; Each unit includes laundry and storage areas
