Townhouse-Style Duplex with
New
For Sale
$649,900
1703 NW DIVISION St, Gresham, OR 97030
MULTI_FAMILY - Gresham, OR
Property Size3,440 SF
Lot Size0.14 Acres
Price / SF$188.92
Days on Market4
Property Features for 1703 NW DIVISION St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LDR-5
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 3, Bathroom 2
View
Territorial
Elementary school
North Gresham
Middle school
Clear Creek
High school
Gresham
Directions
NW Division Street (easiest to park in deeded church parking lot spaces next to duplex)
Subdivision
_144
Standard status
Active
APN
R490163
Size
3,440 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
PARTITION PLAT 1999-171, LOT 2 EXC PT IN ST
Tax Annual Amount
6946
Legal Description
PARTITION PLAT 1999-171, LOT 2 EXC PT IN ST
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
high ceilings
vaulted master suite w/ walk-in closet
AC
gas fireplace
fenced yard with deck
territorial views
Building Details
Year built
2006
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Kyle Ball
(503) 750-1420
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 17 at 12:06AM
MLS# 523920162
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.
Built in 2006, this townhouse-style duplex contains 3,440 square feet with two residences of 1,504 square feet each. Both units offer three bedrooms, 2.5 bathrooms, high ceilings, vaulted primary suites with walk-in closets, central air, gas fireplaces, attached garages, fenced yards, decks, and territorial views. Forced-air heating and composition roofing serve the property. A tear-off roof and exterior paint were recently completed, with a transferable roof warranty included.
The property sits at 1703 NW Division St in Gresham, Oregon, near bus service and within a short walk of the MAX light rail, Gresham Station Mall, the new library, parks, Springwater Trail, shopping, and restaurants. The 0.14-acre site provides eight off-street parking spaces in addition to the two attached garages. Separate water, electric, and gas meters support individual utility tracking. One residence has a long-term tenant, while the second is vacant with new paint and flooring.
The property sits at 1703 NW Division St in Gresham, Oregon, near bus service and within a short walk of the MAX light rail, Gresham Station Mall, the new library, parks, Springwater Trail, shopping, and restaurants. The 0.14-acre site provides eight off-street parking spaces in addition to the two attached garages. Separate water, electric, and gas meters support individual utility tracking. One residence has a long-term tenant, while the second is vacant with new paint and flooring.
Key Highlights
- 3,440‑square‑foot duplex on a 0.14‑acre lot
- Two 1,504‑square‑foot units, each with 3 bedrooms and 2.5 bathrooms
- 8 off‑street parking spaces plus 2 attached garages
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
484
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 attached residences offer private outdoor areas, separate utility metering, and convenient transit access.
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: 3,440‑square‑foot duplex on a 0.14‑acre lot; Two 1,504‑square‑foot units, each with 3 bedrooms and 2.5 bathrooms; 8 off‑street parking spaces plus 2 attached garages
