Updated Duplex with Attached
New
For Sale
$824,900
17920 OATFIELD Rd, Gladstone, OR 97027
MultiFamily, Gladstone, OR
Property Size2,648 SF
Lot Size0.18 Acres
Price / SF$311.52
Days on Market6
Property Features for 17920 OATFIELD Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7.2
Bedrooms
4
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 5, Bathroom 6, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 4
Subdivision
Milbradt Heights
Elementary school
John Wetten
Middle school
Kraxberger
High school
Gladstone
Directions
Between Webster and Jennings
Standard status
Active
APN
01456506
Size
2,648 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
2895 MILBRADT HEIGHTS LT 2
Tax Annual Amount
7145
Legal Description
2895 MILBRADT HEIGHTS LT 2
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
updated kitchens
stainless steel appliances
newer flooring
ceiling fans
privacy fence
updated landscaping
Building Details
Year built
1993
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Tree City Real Estate
Listed By:
Lizbeth Abbott
(503) 757-1869
Added: Sep 29
Last Checked: Oct 4 at 6:06PM
MLS# 525424409
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 1993, this R7.2-zoned duplex contains two 2-bedroom, 2.5-bath residences totaling 2,648 square feet. Each home measures approximately 1,324 square feet and includes an attached garage and in-unit laundry. Interior improvements include refreshed kitchens, stainless steel appliances, newer flooring and carpet, updated paint and lighting, ceiling fans, and revised bathroom fixtures. The property also has a newer composition roof, updated landscaping, and a fence dividing the rear yards.
The 0.18-acre property is in Gladstone, near shopping, services, and transportation. Both residences are currently occupied by tenants.
The 0.18-acre property is in Gladstone, near shopping, services, and transportation. Both residences are currently occupied by tenants.
Key Highlights
- Two tenant‑occupied residences, each with 2 bedrooms and 2.5 bathrooms
- 2,648 square feet total; approximately 1,324 square feet per residence
- 0.18‑acre parcel zoned R7.2
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
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
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
Check the figures for this property
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 homes are tenant-occupied and have in-unit laundry, private garages, and fenced rear outdoor areas.
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 residences, each with 2 bedrooms and 2.5 bathrooms; 2,648 square feet total; approximately 1,324 square feet per residence; 0.18‑acre parcel zoned R7.2
