Craftsman Duplex with
For Sale
$875,000
2333 NE SCHUYLER St, Portland, OR 97212
MultiFamily, Portland, OR
Property Size3,605 SF
Lot Size0.11 Acres
Price / SF$242.72
Days on Market98
Property Features for 2333 NE SCHUYLER St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3
Subdivision
IRVINGTON
View
Territorial
Elementary school
Irvington
Middle school
Harriet Tubman
High school
Grant
Directions
Corner of NE 24th and NE Schuyler
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
Legal Description
JOHN IRVINGS 1ST ADD, BLOCK 16, LOT 1
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
covered front porch
yard
mature trees
full basement
laundry
storage
radon mitigation system
central air
EV car charger
gas fireplaces
Building Details
Year built
1907
Floors in Building
4
Number of units
2
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Andrew Harris
(503) 504-2369
Added: May 28
Changed: Sep 1
Last Checked: Sep 2 at 5:06PM
MLS# 601996869
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 1907 duplex contains 3,605 square feet across two residential units. The main-level residence offers one bedroom and one bathroom, while the upper unit includes two bedrooms and two bathrooms. Original-style details include woodwork, hardwood floors, gas fireplaces, and a covered front porch. A full basement with high ceilings provides laundry and storage space, and the property includes a two-car garage.
The 0.11-acre parcel is located at 2333 NE Schuyler St in Portland’s Irvington neighborhood, one block from NE Broadway’s shops, restaurants, and cafes. The property has RM1 zoning, forced-air heating, central air on the second floor, a composition roof, an installed radon mitigation system, and an EV charger. Walk and bike scores are 93 and 100, respectively.
The 0.11-acre parcel is located at 2333 NE Schuyler St in Portland’s Irvington neighborhood, one block from NE Broadway’s shops, restaurants, and cafes. The property has RM1 zoning, forced-air heating, central air on the second floor, a composition roof, an installed radon mitigation system, and an EV charger. Walk and bike scores are 93 and 100, respectively.
Key Highlights
- 3,605‑square‑foot duplex on a 0.11‑acre parcel
- Two units: 1br/1ba main‑level residence and 2br/2ba upper unit
- 1907 construction with woodwork, hardwood floors, and gas fireplaces
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
$50,238
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
5.74%
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%
$1,004,760
$1.0M
Cap Rate 7%
$717,686
$717.7K
Cap Rate 9%
$558,200
$558.2K
Market Conditions
NOI Build-Up for 3,605 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
$75.7K $21.00/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$71.8K $19.91/SF
− OpEx
−$21.5K −$5.97/SF
NOI
$50.2K $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%
$1,004,760
Cap Rate 7%
$717,686
Cap Rate 9%
$558,200
Alternative Uses
Best Use
Multifamily LT 5
$717.7K
$628.0K – $837.3K
NOI $50,238 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$661.3K
$578.6K – $771.5K
NOI $46,288 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$1.01M
$885.8K – $1.18M
NOI $70,866 @ 7.0% cap · market cap 8.10%
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
2,323
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
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 - One residence is vacant, while the second unit is occupied by a tenant.
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 $875,000.
What are key features of this property?
This property features: 3,605‑square‑foot duplex on a 0.11‑acre parcel; Two units: 1br/1ba main‑level residence and 2br/2ba upper unit; 1907 construction with woodwork, hardwood floors, and gas fireplaces
