Corner-Lot Duplex with
New
For Sale
$499,900
22222 SE ASH St, Gresham, OR 97030
MULTI_FAMILY - Gresham, OR
Property Size2,108 SF
Lot Size0.19 Acres
Price / SF$237.14
Days on Market4
Property Features for 22222 SE ASH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CC
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2
Subdivision
Newell Park
Elementary school
North Gresham
Middle school
Clear Creek
High school
Gresham
Directions
SE on Ash from SE 223rd Avenue
Standard status
Active
APN
R225299
Size
2,108 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
NEWELL PK, BLOCK 9, LOT 9 EXC PT IN STS
Tax Annual Amount
4625
Legal Description
NEWELL PK, BLOCK 9, LOT 9 EXC PT IN STS
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1957
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Daniela Sardo
(503) 310-9127
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 11:06PM
MLS# 147490588
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 duplex was built in 1957 and includes two 2-bedroom, 1-bath residences. A detached double garage is divided to provide dedicated space for each unit, while the property also includes four driveway parking spaces. The rear residence features updated LVP flooring, fresh paint, a gas range, a refrigerator, and owner-provided washer and dryer. It also has an enclosed yard and a 336 SF basement. The front residence includes carpeting, washer/dryer hookups, and an owner-provided refrigerator.
Both units are leased month-to-month. Separate gas and electric meters allow residents to pay those utilities directly; ownership covers water, sewer, and landscaping. The roof is composition and approximately half was replaced in 2025. The .19-acre corner parcel carries CC zoning and is located on a bus route, with Mt. Hood Community College and Mt. Hood Medical Center nearby.
Both units are leased month-to-month. Separate gas and electric meters allow residents to pay those utilities directly; ownership covers water, sewer, and landscaping. The roof is composition and approximately half was replaced in 2025. The .19-acre corner parcel carries CC zoning and is located on a bus route, with Mt. Hood Community College and Mt. Hood Medical Center nearby.
Key Highlights
- Two 2‑bedroom, 1‑bath units in a duplex built in 1957
- Detached double garage divided for separate unit use
- Six off‑street parking spaces: two garage and four driveway
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
$27,990
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
5.60%
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%
$559,800
$559.8K
Cap Rate 7%
$399,857
$399.9K
Cap Rate 9%
$311,000
$311.0K
Market Conditions
NOI Build-Up for 2,108 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
$41.7K $19.80/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$40.0K $18.97/SF
− OpEx
−$12.0K −$5.69/SF
NOI
$28.0K $13.28/SF
Area
Gresham, OR
Vacancy
4.20%
Lease Rate
$19.80 /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%
$559,800
Cap Rate 7%
$399,857
Cap Rate 9%
$311,000
Alternative Uses
Best Use
Multifamily LT 5
$399.9K
$349.9K – $466.5K
NOI $27,990 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$359.5K
$314.5K – $419.4K
NOI $25,162 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$481.7K
$421.5K – $562.0K
NOI $33,720 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - CC-zoned duplex with separate utility metering, private outdoor space, and month-to-month occupancy in Gresham.
Where is this duplex located?
The property is located at 22222 SE ASH St Gresham, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units in a duplex built in 1957; Detached double garage divided for separate unit use; Six off‑street parking spaces: two garage and four driveway
