Remodeled Duplex with
For Sale
$609,900
2185-2187 Dorsey Dr, Hubbard, OR 97032
Both occupied units offer open layouts, one-car garages, and a setting beside a nature preserve.
Property Size2,552 SF
Price / SF$238.99
Days on Market22
Property Features for 2185-2187 Dorsey Dr
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
2003
Listing Agency:
HOMESMART REALTY GROUP
(503) 851-3167
Listed By:
CHUN TRUONG · License #199911024
Source:
Wisser
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 29 at 11:46AM
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 HOMESMART REALTY GROUP
Investment Insights
Based on property information with market context.
This 2,552-square-foot duplex, built in 2003, has been recently remodeled and includes two occupied units. Each residence is described with an open floor plan, while the property provides 1-car garages and a private setting backing to a nature preserve.
Located on Dorsey Dr in Hubbard, the property combines established residential construction with existing occupancy and rental income. The duplex configuration offers two separate living spaces within one investment property.
Located on Dorsey Dr in Hubbard, the property combines established residential construction with existing occupancy and rental income. The duplex configuration offers two separate living spaces within one investment property.
Key Highlights
- 2,552 SF duplex built in 2003
- Recently remodeled two‑unit property
- Both units are occupied
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
$19,421
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
3.18%
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%
$388,420
$388.4K
Cap Rate 7%
$277,443
$277.4K
Cap Rate 9%
$215,789
$215.8K
Market Conditions
NOI Build-Up for 2,552 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
$29.7K $11.64/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$27.7K $10.87/SF
− OpEx
−$8.3K −$3.26/SF
NOI
$19.4K $7.61/SF
Area
Marion County, OR
Vacancy
6.60%
Lease Rate
$11.64 /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%
$388,420
Cap Rate 7%
$277,443
Cap Rate 9%
$215,789
Alternative Uses
Best Use
Multifamily LT 5
$277.4K
$242.8K – $323.7K
NOI $19,421 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$257.8K
$225.6K – $300.8K
NOI $18,049 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$600.2K
$525.2K – $700.2K
NOI $42,013 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 97032, OR
5,188
Population
1,805
Households
2.9
Avg Household Size
35
Median Age
23%
College-Educated
85%
High-School Grad
17.9 sq mi
ZIP Area
290
Density / Sq Mi
$100,301
Median Household Income
$47,561
Median Earnings
$1,492
Median Rent
$444,200
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 - Both occupied units offer open layouts, one-car garages, and a setting beside a nature preserve.
Where is this duplex located?
The property is located at 2185-2187 Dorsey Dr Hubbard, OR.
What is the asking price?
The asking price for this property is $609,900.
What are key features of this property?
This property features: 2,552 SF duplex built in 2003; Recently remodeled two‑unit property; Both units are occupied
