Updated Two-Unit
New
For Sale
$824,900
17920 Oatfield RD, Gladstone, OR 97027
Both residences include attached garages, private rear-yard areas, and in-unit laundry.
Property Size2,648 SF
Price / SF$311.52
Days on Market5
Property Features for 17920 Oatfield RD
General Information
Standard status
Active
Size
2,648 SF
Property subtype
Multi-Family
Building Details
Year Built
1993
Listing Agency:
Tree City Real Estate
Listed By:
Vicki Gile
(503) 539-5944
Source:
Gilegroup
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 4 at 9:01AM
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 Tree City Real Estate
Investment Insights
Based on property information with market context.
This 1993 duplex contains two tenant-occupied homes, each with two bedrooms, 2.5 bathrooms, and approximately 1,324 square feet. Together, the units provide 2,648 square feet. Interior updates include kitchens with stainless steel appliances and refreshed countertops, along with newer flooring, carpet, paint, lighting, ceiling fans, and bathroom fixtures. A newer roof and landscaping work are among the property improvements.
Each home has an attached garage and in-unit laundry. A privacy fence divides the rear yards, giving each unit a separate outdoor area. The property is at 17920 Oatfield Road in Gladstone, Oregon, near shopping, services, and transportation.
Each home has an attached garage and in-unit laundry. A privacy fence divides the rear yards, giving each unit a separate outdoor area. The property is at 17920 Oatfield Road in Gladstone, Oregon, near shopping, services, and transportation.
Key Highlights
- Two tenant‑occupied units, each with 2 bedrooms and 2.5 bathrooms
- Approximately 1,324 SF per unit; 2,648 SF combined
- Attached garage and in‑unit laundry for each residence
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
$34,000
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
4.12%
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%
$680,000
$680.0K
Cap Rate 7%
$485,714
$485.7K
Cap Rate 9%
$377,778
$377.8K
Market Conditions
NOI Build-Up for 2,648 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
$65.1K $24.60/SF
− Vacancy
−$3.3K −$1.25/SF
EGI
$61.8K $23.35/SF
− OpEx
−$27.8K −$10.51/SF
NOI
$34.0K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$680,000
Cap Rate 7%
$485,714
Cap Rate 9%
$377,778
Alternative Uses
Best Use
Apartment 5plus
$485.7K
$425.0K – $566.7K
NOI $34,000 @ 7.0% cap · market cap 4.12%
Second Best
Multifamily LT 5
$475.2K
$415.8K – $554.4K
NOI $33,262 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$714.8K
$625.4K – $833.9K
NOI $50,033 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
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Business Placement
Demographics for 97027, OR
12,599
Population
5,365
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
5,040
Density / Sq Mi
$91,957
Median Household Income
$49,689
Median Earnings
$1,721
Median Rent
$464,700
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 - Both residences include attached garages, private rear-yard areas, and in-unit laundry.
Where is this duplex located?
The property is located at 17920 Oatfield RD Gladstone, OR.
What is the asking price?
The asking price for this property is $824,900.
What are key features of this property?
This property features: Two tenant‑occupied units, each with 2 bedrooms and 2.5 bathrooms; Approximately 1,324 SF per unit; 2,648 SF combined; Attached garage and in‑unit laundry for each residence
