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    Irvington Duplex with Rental Upside Title is generated by Realmo AI

    2333 NE SCHUYLER St, Portland, OR 97212

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    New
    For Sale
    $900,000

    MULTI_FAMILY - Portland, OR

    Property size:
    3,605 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $249/SF
    Added:
    May 28, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 2 at 2:06 pm

    Property Features for 2333 NE SCHUYLER St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM1
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3
    Standard status
    Active
    APN
    R193131
    Size
    3,605 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Description
    JOHN IRVINGS 1ST ADD, BLOCK 16, LOT 1
    Tax Annual Amount
    9050

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1907
    Floors in Building
    4
    Number of units
    2
    Roof type
    Composition

    We can help!

    Listing Contact
    Andrew Harris

    Listing agent Andrew Harris

    Listing office eXp Realty, LLC 4800 Meadows Rd Ste 300, Salem, OR

    Listing date May 28, 2026

    MLS# 601996869 Listing URL

    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.

    HighLights

    • Prime Irvington location: 1 block to NE Broadway's shops, restaurants, and cafes; 93 Walk Score, 100 Bike Score.
    • Income potential: Duplex with tenant‑occupied 2br/2ba unit ($2,400/mo) and vacant 1br/1ba unit for owner‑occupancy or market rent.
    • Character and charm: 1907 Craftsman with original woodwork, hardwood floors, and gas fireplaces.
    • Additional income opportunities: 2‑car garage and full basement with high ceilings and exterior access.
    • Desirable amenities: Central air (2nd floor), EV car charger, and radon mitigation system.
    • Curb appeal: Huge covered front porch, lush yard, and mature trees.

    Overview

    This Craftsman duplex, constructed in 1907, is situated in the Irvington neighborhood of Portland, one block from NE Broadway's commercial area. The property features woodwork, hardwood floors, and gas fireplaces. The main level unit, with one bedroom and one bathroom, is currently vacant. The upper unit, which includes two bedrooms and two bathrooms, is tenant-occupied at a rate of $2,400 per month. The property includes a covered front porch, yard, and mature trees. The full basement, with high ceilings and exterior access, contains laundry and storage space. A two-car garage is also present. Additional features include a radon mitigation system, central air on the second floor, and an EV car charger. The property is zoned RM1. The lot size is 0.11 acres. The property has a walk score of 93 and a bike score of 100.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $75.7k $21.00
    − Vacancy −$3.9k −$1.09
    EGI $71.8k $19.91
    − OpEx −$21.5k −$5.97
    NOI $50.2k $13.94
    3,605 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $717.7K
    $628.0K – $837.3K (±1% cap)
    NOI $50,238 @ 7.0% cap · market cap 5.58%
    Second Best
    Apartment 5plus
    $661.3K
    $578.6K – $771.5K (±1% cap)
    NOI $46,288 @ 7.0% cap · market cap 5.14%
    Theoretical Best
    Office A
    $1.01M
    $885.8K – $1.18M (±1% cap)
    NOI $70,866 @ 7.0% cap · market cap 7.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.641436
    Latitude
    45.535932

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    FAQs

    What type of property is this?
    Duplex - Craftsman duplex in Irvington near Broadway with investment potential.
    Where is this duplex located?
    The property is located at 2333 NE SCHUYLER St Portland, OR.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Prime Irvington location: **1 block to NE Broadway's shops, restaurants, and cafes; 93 Walk Score, 100 Bike Score.**; Income potential: **Duplex with tenant‑occupied 2br/2ba unit ($2,400/mo) and vacant 1br/1ba unit for owner‑occupancy or market rent.**; Character and charm: 1907 Craftsman with original woodwork, hardwood floors, and gas fireplaces.
    (503) 504-2369
    We can help!
    Listing Contact
    Andrew Harris
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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