Side-by-Side
New
For Sale
$825,000
22077 SW Chesapeake Pl., Sherwood, OR 97140
Residential Income, Sherwood, OR
Property Size2,886 SF
Price / SF$285.86
Days on Market6
Property Features for 22077 SW Chesapeake Pl.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 6, Bedroom 1
Patio and Porch features
Deck
Subdivision
Chesapeake Park
High school district
Sherwood SD 88J
Standard status
Active
APN
R2036395
Size
2,886 SF
Utilities
Water source
Public
Amenities
fenced yard
Building Details
Year built
1995
Floors in Building
2
Building materials
Wood Siding
Listing Agency:
Lovejoy Real Estate
(503) 501-2490
Listed By:
Jennifer Turner · License #SA674368000
(503) 312-4642
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 26 at 7:06AM
MLS# 11982145
Copyright © 2026 My State MLS. 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 1995 wood-sided duplex at 22077 SW Chesapeake Pl. contains 2,886 square feet arranged as two 1,443-square-foot residences. Each side includes three bedrooms, 2.5 bathrooms, a living room, a family room, an attached garage, and a fenced yard. The units are designed for independent operation, while shared utilities serve the property. A deck provides additional exterior space, and the building sits on a level cul-de-sac lot.
Recent capital improvements include a roof replacement in 2017 and updated windows, water heaters, furnaces, and A/C systems on both sides in 2016. Public water serves the property. Located in Sherwood, Oregon, the duplex offers a paired residential configuration suitable for occupying one unit and leasing the other or operating both as income-producing residences.
Recent capital improvements include a roof replacement in 2017 and updated windows, water heaters, furnaces, and A/C systems on both sides in 2016. Public water serves the property. Located in Sherwood, Oregon, the duplex offers a paired residential configuration suitable for occupying one unit and leasing the other or operating both as income-producing residences.
Key Highlights
- 2,886‑square‑foot duplex with two 1,443‑square‑foot units
- Each residence has 3 bedrooms and 2.5 bathrooms
- Mirrored units include living rooms, family rooms, attached garages, and fenced yards
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
$37,056
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
4.49%
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%
$741,120
$741.1K
Cap Rate 7%
$529,371
$529.4K
Cap Rate 9%
$411,733
$411.7K
Market Conditions
NOI Build-Up for 2,886 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
$71.0K $24.60/SF
− Vacancy
−$3.6K −$1.25/SF
EGI
$67.4K $23.35/SF
− OpEx
−$30.3K −$10.51/SF
NOI
$37.1K $12.84/SF
Area
Washington County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$741,120
Cap Rate 7%
$529,371
Cap Rate 9%
$411,733
Alternative Uses
Best Use
Apartment 5plus
$529.4K
$463.2K – $617.6K
NOI $37,056 @ 7.0% cap · market cap 4.49%
Second Best
Multifamily LT 5
$506.2K
$443.0K – $590.6K
NOI $35,436 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$779.0K
$681.6K – $908.8K
NOI $54,530 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 97140, OR
28,365
Population
9,540
Households
3
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
44.6 sq mi
ZIP Area
636
Density / Sq Mi
$119,241
Median Household Income
$58,718
Median Earnings
$1,934
Median Rent
$618,000
Median Home Value
Check the figures for this property
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 - Two self-contained residences offer mirrored layouts, attached garages, fenced yards, and separate living and family rooms.
Where is this duplex located?
The property is located at 22077 SW Chesapeake Pl. Sherwood, OR.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2,886‑square‑foot duplex with two 1,443‑square‑foot units; Each residence has 3 bedrooms and 2.5 bathrooms; Mirrored units include living rooms, family rooms, attached garages, and fenced yards
