Remodeled Side-by-Side
New
For Sale
$587,214
2106 NE BUFFALO St, Portland, OR 97211
MultiFamily, Portland, OR
Property Size1,632 SF
Lot Size0.12 Acres
Price / SF$359.81
Days on Market3
Property Features for 2106 NE BUFFALO St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3
Subdivision
WOODLAWN
Elementary school
Woodlawn
Middle school
Ockley Green
High school
Jefferson
Directions
NE Lombard to NE 22nd, South to NE Buffalo St.
Standard status
Active
APN
R201598
Size
1,632 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
LAMONTE, BLOCK 3, LOT 2
Tax Annual Amount
4784
Legal Description
LAMONTE, BLOCK 3, LOT 2
Utilities
Heating system
Radiant
Amenities
in-unit laundry
private yard
wraparound yard
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Living Room Realty
(503) 719-5588
Listed By:
Kimberly Parmon
(503) 438-5101
Added: Aug 20
Changed: Aug 22
Last Checked: Aug 22 at 1:06PM
MLS# 170478406
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 1972, this side-by-side duplex contains 1,632 square feet on a 0.12-acre lot. The two units provide separate living arrangements, in-unit laundry, and private outdoor space. Unit 2108 includes three bedrooms and one bathroom. Unit 2106 has two traditional bedrooms, one bathroom, and a bonus room connected to the living area, along with an extra-large wraparound yard.
Property improvements include radiant cove heating, minisplit systems, a whole-building plumbing repipe, energy-efficient heat pump water heaters, and a newer composition roof. RM1 zoning applies to the property. The duplex is located less than a mile from Woodlawn City Park and the shops and restaurants of Dekum Triangle in Portland.
Property improvements include radiant cove heating, minisplit systems, a whole-building plumbing repipe, energy-efficient heat pump water heaters, and a newer composition roof. RM1 zoning applies to the property. The duplex is located less than a mile from Woodlawn City Park and the shops and restaurants of Dekum Triangle in Portland.
Key Highlights
- 1,632‑square‑foot side‑by‑side duplex on a 0.12‑acre lot
- Unit 2108 has 3 bedrooms, 1 bathroom, in‑unit laundry, and a private yard
- Unit 2106 includes 2 bedrooms, 1 bathroom, a bonus room, 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
Lease Details
2
Residential units
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 separately configured units offer in-unit laundry, private outdoor areas, and distinct residential layouts.
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: 1,632‑square‑foot side‑by‑side duplex on a 0.12‑acre lot; Unit 2108 has 3 bedrooms, 1 bathroom, in‑unit laundry, and a private yard; Unit 2106 includes 2 bedrooms, 1 bathroom, a bonus room, and a wraparound yard
