Single-Level Duplex with
For Sale
$580,000
2446 SE 53RD Ave, Hillsboro, OR 97123
MultiFamily, Hillsboro, OR
Property Size1,738 SF
Lot Size0.17 Acres
Price / SF$333.72
Days on Market9
Property Features for 2446 SE 53RD Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MFR-1
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 1
Elementary school
Rosedale
Middle school
South Meadows
High school
Hillsboro
Directions
SE Brookwood Ave to SE Drake Rd to SE 53rd Ave
Subdivision
_152
Standard status
Active
APN
R976910
Size
1,738 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
GOLDEN ACRES NO.4, LOT 132, ACRES 0.17
Tax Annual Amount
3996
Legal Description
GOLDEN ACRES NO.4, LOT 132, ACRES 0.17
Utilities
Heating system
Forced Air
Amenities
attached garages
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Megan Macy
(503) 515-7520
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 22 at 2:06AM
MLS# 556359936
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 side-by-side duplex contains 1,738 square feet across two single-level units, with each residence separately accessible. The property includes attached garages that provide covered parking and storage, along with five bedrooms and two bathrooms overall. Forced-air heating and a composition roof serve the building, which was constructed in 1982.
Set on a 0.17-acre lot at 2446 SE 53rd Ave in Hillsboro, the property carries MFR-1 zoning. Its configuration supports residential income use while retaining the practical convenience of individual unit access and attached garage space.
Set on a 0.17-acre lot at 2446 SE 53rd Ave in Hillsboro, the property carries MFR-1 zoning. Its configuration supports residential income use while retaining the practical convenience of individual unit access and attached garage space.
Key Highlights
- Side‑by‑side duplex with two separately accessible units
- 1,738 square feet on a 0.17‑acre lot
- Attached garages provide covered parking and storage
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
$26,102
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
4.50%
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%
$522,040
$522.0K
Cap Rate 7%
$372,886
$372.9K
Cap Rate 9%
$290,022
$290.0K
Market Conditions
NOI Build-Up for 1,738 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
$39.4K $22.68/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$37.3K $21.46/SF
− OpEx
−$11.2K −$6.44/SF
NOI
$26.1K $15.02/SF
Area
Hillsboro, OR
Vacancy
5.40%
Lease Rate
$22.68 /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%
$522,040
Cap Rate 7%
$372,886
Cap Rate 9%
$290,022
Alternative Uses
Best Use
Multifamily LT 5
$372.9K
$326.3K – $435.0K
NOI $26,102 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$328.6K
$287.5K – $383.4K
NOI $23,001 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,670 @ 7.0% cap · market cap 5.63%
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
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 97123, OR
48,369
Population
17,685
Households
2.7
Avg Household Size
37
Median Age
36%
College-Educated
87%
High-School Grad
55.7 sq mi
ZIP Area
868
Density / Sq Mi
$105,999
Median Household Income
$50,578
Median Earnings
$1,814
Median Rent
$489,100
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 - Side-by-side residential income property with separate entrances, attached garages, and a cul-de-sac setting in Hillsboro.
Where is this duplex located?
The property is located at 2446 SE 53RD Ave Hillsboro, OR.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two separately accessible units; 1,738 square feet on a 0.17‑acre lot; Attached garages provide covered parking and storage
