Permitted Duplex with Private
For Sale
$530,000
2820 Northeast Oregon Street, Portland, OR 97232
Currently arranged as one residence with two living areas and full bathrooms.
Property Size2,341 SF
Price / SF$226.40
Days on Market176
Property Features for 2820 Northeast Oregon Street
General Information
Standard status
Active
Size
2,341 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
RM2
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,677
Amenities
2
Unfinished
Composition
Asbestos
Building Details
Year Built
1900
Buildings
1
Construction
Victorian
Listing Agency:
Premiere Property Group, LLC
(503) 702-5529
Listed By:
John McKay · License #201207149
(503) 702-5529
Source:
Compass
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 9:14PM
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.
Built in 1900, this Victorian property is permitted as a duplex and is currently configured as a single residence. The layout includes a combined living and dining room, an updated kitchen with quartz countertops, and a main living area with one bedroom and a full bathroom. A second living area provides its own living space, sink, full bathroom, and private entrance. The property also includes a private, low-maintenance yard with sitting areas and spring blooms.
A two-car driveway provides off-street parking. The property is located at 2820 Northeast Oregon Street in Portland, with access to two major bus lines, shopping, Oregon Park, and the Laurelhurst and Kerns neighborhoods. RM2 zoning is identified for the property.
A two-car driveway provides off-street parking. The property is located at 2820 Northeast Oregon Street in Portland, with access to two major bus lines, shopping, Oregon Park, and the Laurelhurst and Kerns neighborhoods. RM2 zoning is identified for the property.
Key Highlights
- Permitted duplex currently configured as a single residence
- Two living areas, each with a full bathroom
- Second living area includes a sink and private entrance
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
$32,623
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
6.16%
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%
$652,460
$652.5K
Cap Rate 7%
$466,043
$466.0K
Cap Rate 9%
$362,478
$362.5K
Market Conditions
NOI Build-Up for 2,341 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
$49.2K $21.00/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$46.6K $19.91/SF
− OpEx
−$14.0K −$5.97/SF
NOI
$32.6K $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%
$652,460
Cap Rate 7%
$466,043
Cap Rate 9%
$362,478
Alternative Uses
Best Use
Multifamily LT 5
$466.0K
$407.8K – $543.7K
NOI $32,623 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$429.4K
$375.7K – $501.0K
NOI $30,058 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$657.4K
$575.2K – $767.0K
NOI $46,019 @ 7.0% cap · market cap 8.68%
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
2,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
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 - Currently arranged as one residence with two living areas and full bathrooms.
Where is this duplex located?
The property is located at 2820 Northeast Oregon Street Portland, OR.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Permitted duplex currently configured as a single residence; Two living areas, each with a full bathroom; Second living area includes a sink and private entrance
