Townhouse-Style Duplex with
For Sale
$649,900
Pending
1703 NW DIVISION ST, Gresham, OR 97030
Two well-appointed residences offer separate utility metering, private outdoor space, and flexible occupancy options.
Property Size3,440 SF
Days on Market12
Property Features for 1703 NW DIVISION ST
General Information
Standard status
Pending
Size
3,440 SF
Total Parking Spaces
10
Property subtype
MULTI_FAMILY
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,945
Amenities
high ceilings
vaulted master suite
walk-in closet
AC
gas fireplace
attached garage
fenced yard
deck
territorial views
Building Details
Building Size
3,440 SF
Year Built
2006
Buildings
1
Listing Agency:
Premiere Property Group, LLC
(503) 750-1420
Listed By:
Kyle Ball
(503) 750-1420
Source:
Eleeterealestate
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 24 at 3:10PM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
Built in 2006, this townhouse-style duplex contains two residences, each offering 1504 SQFT, three bedrooms, 2.5 baths, high ceilings, a vaulted primary suite with walk-in closet, air conditioning, and a gas fireplace. Attached garages, fenced yards, decks, and territorial views add practical appeal to both units. Separate water, electric, and gas meters support straightforward expense tracking. The property also features a brand-new tear-off roof with transferable warranty and new exterior paint.
One residence is occupied by a long-term tenant, while the other is vacant with new paint and flooring. The property includes 8 off-street parking spaces in addition to 2 attached garages. It is located on a bus line and within a short walk of MAX light rail, Gresham Station Mall, the new library, parks, Springwater Trail, shopping, and restaurants.
One residence is occupied by a long-term tenant, while the other is vacant with new paint and flooring. The property includes 8 off-street parking spaces in addition to 2 attached garages. It is located on a bus line and within a short walk of MAX light rail, Gresham Station Mall, the new library, parks, Springwater Trail, shopping, and restaurants.
Key Highlights
- Two 1504 SQFT units with 3 beds and 2.5 baths each
- Brand‑new tear‑off roof with transferable warranty
- New exterior paint; vacant unit has new paint and flooring
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
$45,676
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
7.03%
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%
$913,520
$913.5K
Cap Rate 7%
$652,514
$652.5K
Cap Rate 9%
$507,511
$507.5K
Market Conditions
NOI Build-Up for 3,440 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
$68.1K $19.80/SF
− Vacancy
−$2.9K −$0.83/SF
EGI
$65.3K $18.97/SF
− OpEx
−$19.6K −$5.69/SF
NOI
$45.7K $13.28/SF
Area
Gresham, OR
Vacancy
4.20%
Lease Rate
$19.80 /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%
$913,520
Cap Rate 7%
$652,514
Cap Rate 9%
$507,511
Alternative Uses
Best Use
Multifamily LT 5
$652.5K
$571.0K – $761.3K
NOI $45,676 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$586.6K
$513.3K – $684.4K
NOI $41,062 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$786.1K
$687.8K – $917.1K
NOI $55,026 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
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 well-appointed residences offer separate utility metering, private outdoor space, and flexible occupancy options.
Where is this duplex located?
The property is located at 1703 NW DIVISION ST Gresham, OR.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two 1504 SQFT units with 3 beds and 2.5 baths each; Brand‑new tear‑off roof with transferable warranty; New exterior paint; vacant unit has new paint and flooring
