Portland Duplex with
1704 NE 81ST Ave Portland, OR 97213
For Sale
$499,000
MULTI_FAMILY - Portland, OR
Property Size1,560 SF
Lot Size0.12 Acres
Price / SF$319.87
Days on Market619
Property Features for 1704 NE 81ST Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
4
Bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1
Standard status
Active
APN
R194142
Size
1,560 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
JONESMORE, BLOCK 54, LOT 10&11
Tax Annual Amount
5449
Utilities
Heating system
Baseboard
Building Details
Year built
1962
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Lillie Barr
(503) 313-8806
Added: Nov 18, 2024
Changed: Jul 29
Last Checked: Jul 30 at 5:06AM
MLS# 24387918
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 classic mid-century duplex is located in the heart of NE Portland. The well-maintained property features two occupied units. Each unit offers 2 bedrooms and 1 bathroom. Each unit also includes a private one-car garage and in-unit washer and dryer. The duplex was built with the durability and simplicity that define mid-century construction. The property offers a generous layout and a functional floor plan. The property could benefit from some cosmetic updates and light TLC. The lot size is 0.12 acres and the property size is 1560 square feet. The zoning is RM1. The property presents an excellent opportunity for investors to enhance value through thoughtful updates over time. The Home Energy Score is 3.
Key Highlights
- Duplex built in 1962 with mid‑century design, located in NE Portland (per listing remarks).
- Two occupied units, each with 2 bedrooms and 1 bathroom.
- Each unit includes a private 1‑car garage.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.8k | $21.00 |
| − Vacancy | −$1.7k | −$1.09 |
| EGI | $31.1k | $19.91 |
| − OpEx | −$9.3k | −$5.97 |
| NOI | $21.7k | $13.94 |
1,560 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.3K
NOI $21,740 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,030 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$438.1K
$383.3K – $511.1K
NOI $30,666 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Mid-century Portland duplex featuring garages and in-unit laundry.
Where is this duplex located?
The property is located at 1704 NE 81ST Ave Portland, OR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Duplex built in 1962 with mid‑century design, located in NE Portland (per listing remarks).; Two occupied units, each with 2 bedrooms and 1 bathroom.; Each unit includes a private 1‑car garage.
