Updated Duplex with Outdoor
For Sale
$795,000
1926 NE 11TH Ave, Portland, OR 97212
MultiFamily, Portland, OR
Property Size2,836 SF
Lot Size0.12 Acres
Price / SF$280.32
Days on Market102
Property Features for 1926 NE 11TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 2
Subdivision
IRVINGTON
View
City
Elementary school
Irvington
Middle school
Harriet Tubman
High school
Grant
Directions
hancock & 11th
Standard status
Active
APN
R182623
Size
2,836 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
HOLLADAYS ADD, BLOCK 267, FRACTIONAL LOT 1, LOT 2
Tax Annual Amount
10794
Legal Description
HOLLADAYS ADD, BLOCK 267, FRACTIONAL LOT 1, LOT 2
Utilities
Heating system
Forced Air
Amenities
central air
energy-efficient windows
in-unit washer/dryer
basement
deck
back yard
Building Details
Year built
1907
Floors in Building
3
Number of units
2
Roof type
Composition
Listing Agency:
CORE, Realtors
(971) 271-7174
Listed By:
Chris Johnson · License #930700182
(503) 407-9924
Added: Jun 8
Changed: Sep 13
Last Checked: Sep 17 at 4:06PM
MLS# 677137787
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 two-unit residential property contains 2,836 square feet on a 0.12-acre lot and was built in 1907. Improvements include central air, forced-air heating, energy-efficient windows, and refreshed kitchens. The upper residence includes an in-unit washer and dryer, while the lower unit has access to laundry facilities from the basement. The property includes five bedrooms and three bathrooms, with a composition roof.
Outdoor features include a large upper-level deck, backyard access from both residences, and a 100-foot driveway providing on-site parking and exterior space. The basement adds storage and provides a separate access point for the lower unit. The property is located near public transportation, grocery stores, shops, restaurants, and other major amenities in Portland’s Irvington neighborhood.
Outdoor features include a large upper-level deck, backyard access from both residences, and a 100-foot driveway providing on-site parking and exterior space. The basement adds storage and provides a separate access point for the lower unit. The property is located near public transportation, grocery stores, shops, restaurants, and other major amenities in Portland’s Irvington neighborhood.
Key Highlights
- Duplex totals 2,836 square feet on a 0.12‑acre lot
- Five bedrooms and three bathrooms across the two units
- Built in 1907 with central air and forced‑air heating
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
$39,521
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
4.97%
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%
$790,420
$790.4K
Cap Rate 7%
$564,586
$564.6K
Cap Rate 9%
$439,122
$439.1K
Market Conditions
NOI Build-Up for 2,836 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
$59.6K $21.00/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$56.5K $19.91/SF
− OpEx
−$16.9K −$5.97/SF
NOI
$39.5K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$790,420
Cap Rate 7%
$564,586
Cap Rate 9%
$439,122
Alternative Uses
Best Use
Multifamily LT 5
$564.6K
$494.0K – $658.7K
NOI $39,521 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$796.4K
$696.9K – $929.2K
NOI $55,749 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,579
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
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 - Residential income property with RM2 zoning, basement storage, and outdoor access serving both units.
Where is this duplex located?
The property is located at 1926 NE 11TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Duplex totals 2,836 square feet on a 0.12‑acre lot; Five bedrooms and three bathrooms across the two units; Built in 1907 with central air and forced‑air heating
