Single-Level Duplex with
New
For Sale
$550,000
240 SE KANE Dr, Gresham, OR 97080
MultiFamily, Gresham, OR
Property Size2,136 SF
Lot Size0.22 Acres
Price / SF$257.49
Days on Market2
Property Features for 240 SE KANE Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LDR
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 5
Elementary school
Powell Valley
Middle school
Gordon Russell
High school
Sam Barlow
Directions
Powell, N on Kane
Subdivision
_144
Standard status
Active
APN
R339441
Size
2,136 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
SECTION 11 1S 3E, TL 6800 0.22 ACRES
Tax Annual Amount
6457
Legal Description
SECTION 11 1S 3E, TL 6800 0.22 ACRES
Utilities
Heating system
Forced Air
Amenities
garage
fenced backyard
Building Details
Year built
1994
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Redfin
(503) 496-7620
Listed By:
Michelle Palmquist
(971) 998-6431
Added: Aug 26
Last Checked: Aug 27 at 9:06AM
MLS# 510643976
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 2,136-square-foot duplex contains two single-level residences, each with three bedrooms, two bathrooms, a private one-car garage, and a fenced backyard. Built in 1994, the property includes forced-air heating and a composition roof. The two-unit layout provides separate living areas and outdoor space within a 0.22-acre lot.
Located in Gresham, the property is near public transportation, shopping, restaurants, and everyday amenities. LDR zoning is identified for the site.
Located in Gresham, the property is near public transportation, shopping, restaurants, and everyday amenities. LDR zoning is identified for the site.
Key Highlights
- Two‑unit duplex with 2,136 square feet of building area
- Each unit includes 3 bedrooms and 2 bathrooms
- Private one‑car garage assigned to each residence
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
$28,362
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
5.16%
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%
$567,240
$567.2K
Cap Rate 7%
$405,171
$405.2K
Cap Rate 9%
$315,133
$315.1K
Market Conditions
NOI Build-Up for 2,136 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
$42.3K $19.80/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$40.5K $18.97/SF
− OpEx
−$12.2K −$5.69/SF
NOI
$28.4K $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%
$567,240
Cap Rate 7%
$405,171
Cap Rate 9%
$315,133
Alternative Uses
Best Use
Multifamily LT 5
$405.2K
$354.5K – $472.7K
NOI $28,362 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$488.1K
$427.1K – $569.5K
NOI $34,167 @ 7.0% cap · market cap 6.21%
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
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 97080, OR
45,647
Population
17,276
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
21.6 sq mi
ZIP Area
2,113
Density / Sq Mi
$96,218
Median Household Income
$47,562
Median Earnings
$1,596
Median Rent
$485,000
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 - Two matching residences offer private outdoor areas and convenient access to transportation, retail, dining, and daily services.
Where is this duplex located?
The property is located at 240 SE KANE Dr Gresham, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,136 square feet of building area; Each unit includes 3 bedrooms and 2 bathrooms; Private one‑car garage assigned to each residence
