Duplex with Two-Car
New
For Sale
$650,000
13349 NW Westlawn TER, Portland, OR 97229
Two two-bedroom residences support owner occupancy in one unit while generating rental income from the other.
Property Size1,500 SF
Price / SF$433.33
Days on Market5
Property Features for 13349 NW Westlawn TER
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic fixer
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1962
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Realty Portland Team
(503) 966-4371
Source:
Realtyportland
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 13 at 8:24AM
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.
This duplex includes two separate residences, each with 2 bedrooms, 1 bathroom, and approximately 750 square feet of living area. The property also includes a 2-car garage, a newer roof, and landscaped grounds. Built in 1962, the building is positioned for cosmetic updates while retaining its existing two-unit configuration.
Located at 13345 and 13349 NW Westlawn Terrace in Portland, the property is near shopping, dining, parks, and everyday amenities. The location also provides access to the Silicon Forest and Portland’s technology corridor. Its layout supports an owner-occupant arrangement with rental income from the second residence or continued use as a two-unit investment property.
Located at 13345 and 13349 NW Westlawn Terrace in Portland, the property is near shopping, dining, parks, and everyday amenities. The location also provides access to the Silicon Forest and Portland’s technology corridor. Its layout supports an owner-occupant arrangement with rental income from the second residence or continued use as a two-unit investment property.
Key Highlights
- Two separate residential units, each with 2 bedrooms and 1 bathroom
- Approximately 750 square feet of living space per unit
- 2‑car garage included
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
$21,958
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
3.38%
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%
$439,160
$439.2K
Cap Rate 7%
$313,686
$313.7K
Cap Rate 9%
$243,978
$244.0K
Market Conditions
NOI Build-Up for 1,500 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
$33.3K $22.20/SF
− Vacancy
−$1.9K −$1.29/SF
EGI
$31.4K $20.91/SF
− OpEx
−$9.4K −$6.27/SF
NOI
$22.0K $14.64/SF
Area
ZIP 97229
Vacancy
5.80%
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%
$439,160
Cap Rate 7%
$313,686
Cap Rate 9%
$243,978
Alternative Uses
Best Use
Multifamily LT 5
$313.7K
$274.5K – $366.0K
NOI $21,958 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$290.0K
$253.8K – $338.4K
NOI $20,301 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$404.9K
$354.3K – $472.4K
NOI $28,342 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 97229, OR
73,602
Population
28,312
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
98%
High-School Grad
19.7 sq mi
ZIP Area
3,736
Density / Sq Mi
$159,863
Median Household Income
$83,904
Median Earnings
$1,948
Median Rent
$728,800
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 two-bedroom residences support owner occupancy in one unit while generating rental income from the other.
Where is this duplex located?
The property is located at 13349 NW Westlawn TER Portland, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two separate residential units, each with 2 bedrooms and 1 bathroom; Approximately 750 square feet of living space per unit; 2‑car garage included
