Corner-Lot Duplex with Flexible
New
For Sale
$599,995
3929 SE 70th AVE, Portland, OR 97206
Updated multi-level duplex with a separate lower-level entrance and adaptable interior spaces.
Property Size2,351 SF
Price / SF$255.21
Days on Market4
Property Features for 3929 SE 70th AVE
General Information
Standard status
Active
Size
2,351 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1906
Construction
Four Square
Listing Agency:
RE/MAX Equity Group
(541) 556-5292
Listed By:
Linnea Kittrell
(541) 556-5292
Source:
Oregonrealestateadvisors
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 4:19PM
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 RE/MAX Equity Group
Investment Insights
Based on property information with market context.
Built in 1906, this 2,351-square-foot Four Square home is currently arranged as a duplex on a corner lot. The lower level has its own entrance, kitchenette with range and refrigerator, one legal bedroom, and an additional non-conforming bedroom. The main floor includes a full kitchen, bedroom, dining room, utility room, and living area. Upstairs are two bedrooms plus flexible space that can serve as another bedroom or living area with a kitchen. A finished attic adds further usable space, while fresh interior paint and new carpet provide recent updates. A new roof is scheduled for installation before closing.
The property is in Foster-Powell near Kern Park, local shops, restaurants, and neighborhood amenities. Its 100 Bike Score supports convenient bicycle access throughout the area. The corner-lot setting also provides room to consider an additional unit or tiny home, subject to applicable requirements.
The property is in Foster-Powell near Kern Park, local shops, restaurants, and neighborhood amenities. Its 100 Bike Score supports convenient bicycle access throughout the area. The corner-lot setting also provides room to consider an additional unit or tiny home, subject to applicable requirements.
Key Highlights
- 2,351 SF Four Square home built in 1906
- Current duplex configuration with 5 bedrooms and a possible 6th non‑conforming bedroom
- Separate lower‑level entrance with kitchenette, range, refrigerator, and one legal bedroom
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
$34,525
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
5.75%
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%
$690,500
$690.5K
Cap Rate 7%
$493,214
$493.2K
Cap Rate 9%
$383,611
$383.6K
Market Conditions
NOI Build-Up for 2,351 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
$52.2K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$49.3K $20.98/SF
− OpEx
−$14.8K −$6.29/SF
NOI
$34.5K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$690,500
Cap Rate 7%
$493,214
Cap Rate 9%
$383,611
Alternative Uses
Best Use
Multifamily LT 5
$493.2K
$431.6K – $575.4K
NOI $34,525 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$660.2K
$577.7K – $770.3K
NOI $46,215 @ 7.0% cap · market cap 7.70%
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
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated multi-level duplex with a separate lower-level entrance and adaptable interior spaces.
Where is this duplex located?
The property is located at 3929 SE 70th AVE Portland, OR.
What is the asking price?
The asking price for this property is $599,995.
What are key features of this property?
This property features: 2,351 SF Four Square home built in 1906; Current duplex configuration with 5 bedrooms and a possible 6th non‑conforming bedroom; Separate lower‑level entrance with kitchenette, range, refrigerator, and one legal bedroom
