Two-Unit Duplex with Private
For Sale
$414,900
18427 SE Yamhill St, Gresham, OR 97233
Built in 1948, the property contains two 2-bedroom, 1-bath residences with individual entry points.
Property Size1,680 SF
Price / SF$246.96
Days on Market28
Property Features for 18427 SE Yamhill St
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi-Family
Financials
Cap Rate
7.79%
Gross Income
$36,000
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1948
Listing Agency:
Tree City Real Estate
(503) 757-1869
Listed By:
Lizbeth Abbott
Source:
Apexgroupnw
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 29 at 11:53AM
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 1,680-square-foot duplex, built in 1948, contains two separate 2-bedroom, 1-bath units. Each residence has its own entrance and functional living areas, creating a straightforward two-unit configuration. The property supports rental use and may also accommodate an owner-occupant arrangement with one unit occupied and the other leased.
Located at 18427–18429 SE Yamhill Street in Gresham, the duplex is near public transportation, shopping, schools, parks, and major commuter routes. The property carries a reported 7.79% cap rate and is presented as an income-producing residential asset.
Located at 18427–18429 SE Yamhill Street in Gresham, the duplex is near public transportation, shopping, schools, parks, and major commuter routes. The property carries a reported 7.79% cap rate and is presented as an income-producing residential asset.
Key Highlights
- Two‑unit duplex with 2‑bedroom, 1‑bath layouts
- 1,680 square feet of property size
- Separate entrances for both units
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
$22,307
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
5.38%
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%
$446,140
$446.1K
Cap Rate 7%
$318,671
$318.7K
Cap Rate 9%
$247,856
$247.9K
Market Conditions
NOI Build-Up for 1,680 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
$33.3K $19.80/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$31.9K $18.97/SF
− OpEx
−$9.6K −$5.69/SF
NOI
$22.3K $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%
$446,140
Cap Rate 7%
$318,671
Cap Rate 9%
$247,856
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.8K – $371.8K
NOI $22,307 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$286.5K
$250.7K – $334.2K
NOI $20,053 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$383.9K
$335.9K – $447.9K
NOI $26,873 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
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 - Built in 1948, the property contains two 2-bedroom, 1-bath residences with individual entry points.
Where is this duplex located?
The property is located at 18427 SE Yamhill St Gresham, OR.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom, 1‑bath layouts; 1,680 square feet of property size; Separate entrances for both units
