Duplex with Attached
New
For Sale
$525,000
16735 NE GLISAN St, Portland, OR 97230
MultiFamily, Portland, OR
Property Size3,196 SF
Lot Size0.19 Acres
Price / SF$164.27
Days on Market7
Property Features for 16735 NE GLISAN St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TLDR
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 1
Subdivision
Gresham Wilkes East
Elementary school
Wilkes
Middle school
H.B. Lee
High school
Reynolds
Directions
Take I-84 E to NE 82nd Ave. Exit 9, North on NE 82nd Ave, Right on NE Glisan St. Property on right.
Standard status
Active
APN
R294025
Size
3,196 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
VERDANTA, LOT 50&51 TL 11300
Tax Annual Amount
4991
Legal Description
VERDANTA, LOT 50&51 TL 11300
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
in-unit laundry
fireplace
Building Details
Year built
1973
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Opt
(503) 799-9170
Listed By:
Christopher Haveman · License #201233569
(503) 908-4908
Added: Sep 11
Changed: Sep 17
Last Checked: Sep 17 at 10:06AM
MLS# 628137654
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.
This 3,196-square-foot duplex includes two distinct residential units, each with an attached garage, in-unit laundry, and a fireplace. The layouts provide a three-bedroom unit with one and a half baths and a two-bedroom unit with two full baths. A separate standalone garage adds another functional improvement to the property. The roof, HVAC system, and hot water heater are newer.
Built in 1973 on a 0.19-acre lot, the property is located at 16735 NE GLISAN St in Portland, Oregon. Heating is provided by forced air, with central air conditioning and a composition roof. Zoning is designated TLDR.
Built in 1973 on a 0.19-acre lot, the property is located at 16735 NE GLISAN St in Portland, Oregon. Heating is provided by forced air, with central air conditioning and a composition roof. Zoning is designated TLDR.
Key Highlights
- Two‑unit duplex totaling 3,196 square feet
- Three‑bedroom, 1.5‑bath unit paired with a two‑bedroom, two‑bath unit
- Each unit includes an attached garage, in‑unit laundry, and a fireplace
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
$44,538
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
8.48%
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%
$890,760
$890.8K
Cap Rate 7%
$636,257
$636.3K
Cap Rate 9%
$494,867
$494.9K
Market Conditions
NOI Build-Up for 3,196 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
$67.1K $21.00/SF
− Vacancy
−$3.5K −$1.09/SF
EGI
$63.6K $19.91/SF
− OpEx
−$19.1K −$5.97/SF
NOI
$44.5K $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%
$890,760
Cap Rate 7%
$636,257
Cap Rate 9%
$494,867
Alternative Uses
Best Use
Multifamily LT 5
$636.3K
$556.7K – $742.3K
NOI $44,538 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$586.2K
$513.0K – $684.0K
NOI $41,037 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$897.5K
$785.3K – $1.05M
NOI $62,826 @ 7.0% cap · market cap 11.97%
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
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 97230, OR
41,562
Population
17,190
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
13.9 sq mi
ZIP Area
2,990
Density / Sq Mi
$70,582
Median Household Income
$41,102
Median Earnings
$1,511
Median Rent
$435,800
Median Home Value
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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 residential units offer private living areas, in-unit laundry, fireplaces, and separate garage access.
Where is this duplex located?
The property is located at 16735 NE GLISAN St Portland, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,196 square feet; Three‑bedroom, 1.5‑bath unit paired with a two‑bedroom, two‑bath unit; Each unit includes an attached garage, in‑unit laundry, and a fireplace
