Updated End-Unit
For Sale
$615,000
2926 SE 125TH AVE, Portland, OR 97236
Owner-occupant or rental configuration with one renovated unit and an existing long-term tenant.
Property Size3,005 SF
Days on Market18
Property Features for 2926 SE 125TH AVE
General Information
Standard status
Active
Size
3,005 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,613
Building Details
Building Size
3,005 SF
Year Built
2003
Listing Agency:
MORE Realty
(425) 923-7823
Listed By:
Andre Hage
(425) 923-7823
Source:
Eleeterealestate
Added: Aug 7
Changed: Aug 24
Last Checked: Aug 23 at 7:55AM
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 MORE Realty
Investment Insights
Based on property information with market context.
Built in 2003, this end-unit duplex includes two residences at 2926 and 2930 SE 125th Ave in Portland. The vacant unit has been refreshed with interior paint, kitchen cabinetry, countertops, luxury vinyl plank flooring, and renovated bathrooms with tile flooring. Those improvements were completed in 2026. The other residence is occupied by a tenant who has remained in place for more than six years.
Additional work includes exterior painting, while the property carries no HOA. Its Portland setting provides access to shopping, dining, parks, schools, and major commuter routes. The two-unit layout supports either owner occupancy with a separate rented residence or leasing both units, subject to applicable requirements.
Additional work includes exterior painting, while the property carries no HOA. Its Portland setting provides access to shopping, dining, parks, schools, and major commuter routes. The two-unit layout supports either owner occupancy with a separate rented residence or leasing both units, subject to applicable requirements.
Key Highlights
- End‑unit duplex at 2926 to 2930 SE 125th Ave, Portland, OR 97236
- Built in 2003 with no HOA
- Vacant unit updated in 2026 with new cabinets, countertops, LVP flooring, and renovated tile‑floor bathrooms
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
$41,876
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
6.81%
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%
$837,520
$837.5K
Cap Rate 7%
$598,229
$598.2K
Cap Rate 9%
$465,289
$465.3K
Market Conditions
NOI Build-Up for 3,005 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
$63.1K $21.00/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$59.8K $19.91/SF
− OpEx
−$17.9K −$5.97/SF
NOI
$41.9K $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%
$837,520
Cap Rate 7%
$598,229
Cap Rate 9%
$465,289
Alternative Uses
Best Use
Multifamily LT 5
$598.2K
$523.5K – $697.9K
NOI $41,876 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$551.2K
$482.3K – $643.1K
NOI $38,584 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$843.9K
$738.4K – $984.5K
NOI $59,071 @ 7.0% cap · market cap 9.61%
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
753
Businesses Nearby
Explore this area
Business Placement
Demographics for 97236, OR
40,193
Population
13,736
Households
2.9
Avg Household Size
36
Median Age
21%
College-Educated
81%
High-School Grad
7.7 sq mi
ZIP Area
5,220
Density / Sq Mi
$68,582
Median Household Income
$38,131
Median Earnings
$1,436
Median Rent
$414,400
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 - Owner-occupant or rental configuration with one renovated unit and an existing long-term tenant.
Where is this duplex located?
The property is located at 2926 SE 125TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: End‑unit duplex at 2926 to 2930 SE 125th Ave, Portland, OR 97236; Built in 2003 with no HOA; Vacant unit updated in 2026 with new cabinets, countertops, LVP flooring, and renovated tile‑floor bathrooms
