Remodeled Side-by-Side
For Sale
$587,214
2106 NE Buffalo St, Portland, OR 97211
Two residential units provide private outdoor space, in-unit laundry, and distinct floor plans.
Property Size1,632 SF
Price / SF$359.81
Days on Market9
Property Features for 2106 NE Buffalo St
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Multi-Family
Building Details
Year Built
1972
Listing Agency:
Living Room Realty
(503) 438-5101
Listed By:
Kimberly Parmon
Source:
Thesanchezteamoregon
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 25 at 5:44AM
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 Living Room Realty
Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 1972, contains 1,632 square feet across two residential units. Improvements include a whole-building plumbing repipe, radiant cove heating, minisplit systems, energy-efficient heat pump water heaters, and a newer roof. Both units include in-unit laundry and private yard areas.
Unit 2108 has three bedrooms and one bathroom. Unit 2106 includes two traditional bedrooms, one bathroom, a bonus room connected to the living area, and an extra-large wraparound yard. An oversized side-yard gate and a 30-amp electrical cable connected to the service panel support RV parking or future electrical installation. RM1 zoning and the large lot are identified as offering expansion potential. The property is less than a mile from Woodlawn City Park and the shops and restaurants of Dekum Triangle.
Unit 2108 has three bedrooms and one bathroom. Unit 2106 includes two traditional bedrooms, one bathroom, a bonus room connected to the living area, and an extra-large wraparound yard. An oversized side-yard gate and a 30-amp electrical cable connected to the service panel support RV parking or future electrical installation. RM1 zoning and the large lot are identified as offering expansion potential. The property is less than a mile from Woodlawn City Park and the shops and restaurants of Dekum Triangle.
Key Highlights
- Side‑by‑side duplex built in 1972 with 1,632 square feet
- Unit 2108 includes 3 bedrooms, 1 bath, in‑unit laundry, and a private yard
- Unit 2106 offers 2 traditional bedrooms, a bonus room, 1 bathroom, and a wraparound yard
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
$22,743
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
3.87%
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%
$454,860
$454.9K
Cap Rate 7%
$324,900
$324.9K
Cap Rate 9%
$252,700
$252.7K
Market Conditions
NOI Build-Up for 1,632 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
$34.3K $21.00/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$32.5K $19.91/SF
− OpEx
−$9.7K −$5.97/SF
NOI
$22.7K $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%
$454,860
Cap Rate 7%
$324,900
Cap Rate 9%
$252,700
Alternative Uses
Best Use
Multifamily LT 5
$324.9K
$284.3K – $379.1K
NOI $22,743 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$299.4K
$261.9K – $349.3K
NOI $20,955 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$458.3K
$401.0K – $534.7K
NOI $32,081 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
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 - Two residential units provide private outdoor space, in-unit laundry, and distinct floor plans.
Where is this duplex located?
The property is located at 2106 NE Buffalo St Portland, OR.
What is the asking price?
The asking price for this property is $587,214.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1972 with 1,632 square feet; Unit 2108 includes 3 bedrooms, 1 bath, in‑unit laundry, and a private yard; Unit 2106 offers 2 traditional bedrooms, a bonus room, 1 bathroom, and a wraparound yard
