Riverfront
For Sale
$719,000
2549 Queen St, Seaside, OR 97138
Two residences provide flexibility for personal use, guests, multigenerational living, or potential rental income.
Property Size3,420 SF
Price / SF$210.23
Days on Market8
Property Features for 2549 Queen St
General Information
Standard status
Active
Size
3,420 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
deck
Building Details
Year Built
1975
Listing Agency:
Premiere Property Group, LLC
(503) 440-2747
Listed By:
Michael Davis · License #201219959
Source:
Teamgillott
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 31 at 5:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This two-unit property, built in 1975, offers a flexible residential configuration with separate space for full-time or part-time occupancy. The layout can accommodate personal use in one residence while the second serves guests, multigenerational living, or potential rental income. An expansive deck extends the living experience outdoors and overlooks the river and estuary, with changing sunrise and sunset views.
Located at 2549 Queen St in Seaside, Oregon, the property provides direct access to a coastal setting suited to kayaking, paddleboarding, boating, and quiet waterfront enjoyment. Its two-residence format combines private living arrangements with the ability to accommodate visitors or additional occupants.
Located at 2549 Queen St in Seaside, Oregon, the property provides direct access to a coastal setting suited to kayaking, paddleboarding, boating, and quiet waterfront enjoyment. Its two-residence format combines private living arrangements with the ability to accommodate visitors or additional occupants.
Key Highlights
- Two‑unit property with flexible residential use
- Riverfront setting with estuary views
- Expansive deck for outdoor waterfront enjoyment
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
$24,563
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
3.42%
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%
$491,260
$491.3K
Cap Rate 7%
$350,900
$350.9K
Cap Rate 9%
$272,922
$272.9K
Market Conditions
NOI Build-Up for 3,420 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
$47.2K $13.80/SF
− Vacancy
−$12.1K −$3.54/SF
EGI
$35.1K $10.26/SF
− OpEx
−$10.5K −$3.08/SF
NOI
$24.6K $7.18/SF
Area
Clatsop County, OR
Vacancy
25.65%
Lease Rate
$13.80 /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%
$491,260
Cap Rate 7%
$350,900
Cap Rate 9%
$272,922
Alternative Uses
Best Use
Multifamily LT 5
$350.9K
$307.0K – $409.4K
NOI $24,563 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$994.3K
$870.1K – $1.16M
NOI $69,604 @ 7.0% cap · market cap 9.68%
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
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
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 residences provide flexibility for personal use, guests, multigenerational living, or potential rental income.
Where is this duplex located?
The property is located at 2549 Queen St Seaside, OR.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Two‑unit property with flexible residential use; Riverfront setting with estuary views; Expansive deck for outdoor waterfront enjoyment
