Corner-Lot Duplex with Private
For Sale
$585,000
300 N Morton ST, Newberg, OR 97132
Two residential units offer established occupancy and individual outdoor space near downtown Newberg and George Fox University.
Property Size1,841 SF
Lot Size0.18 Acres
Price / SF$317.76
Days on Market52
Property Features for 300 N Morton ST
General Information
Standard status
Active
Size
1,841 SF
Lot size
0.18 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Realty Portland Team
(503) 966-4371
Source:
Realtyportland
Added: Sep 12
Changed: Nov 1
Last Checked: Nov 1 at 6:03AM
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 Keller Williams Realty Portland Premiere
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Investment Insights
Based on property information with market context.
This 1972-built duplex occupies a .18-acre corner lot at 300 N Morton St in Newberg. The property contains two matching residences, each with 2 bedrooms, 1 bathroom, and 920 sq ft of living space. Both units include a private backyard, while the corner configuration provides additional room for parking, storage, or future site improvements.
The property is located a short distance from Historic Downtown Newberg and minutes from George Fox University. Long-term renters are already in place, supporting continued residential income use. The unit layout is suited to the student, faculty, and young professional renter segments identified for the surrounding market.
The property is located a short distance from Historic Downtown Newberg and minutes from George Fox University. Long-term renters are already in place, supporting continued residential income use. The unit layout is suited to the student, faculty, and young professional renter segments identified for the surrounding market.
Key Highlights
- Two‑unit duplex built in 1972
- Each residence includes 2 bedrooms, 1 bathroom, and 920 sq ft
- Situated on a .18‑acre corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,638
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,760
$472.8K
Cap Rate 7%
$337,686
$337.7K
Cap Rate 9%
$262,644
$262.6K
Market Conditions
NOI Build-Up for 1,841 SF
Gross rent
$45.3K $24.60/SF
− Vacancy
−$2.3K −$1.25/SF
EGI
$43.0K $23.35/SF
− OpEx
−$19.3K −$10.51/SF
NOI
$23.6K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,760
Cap Rate 7%
$337,686
Cap Rate 9%
$262,644
Alternative Uses
Best Use
Apartment 5plus
$337.7K
$295.5K – $394.0K
NOI $23,638 @ 7.0% cap · market cap 4.04%
Second Best
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,282 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$496.9K
$434.8K – $579.8K
NOI $34,785 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
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Business Placement
Demographics for 97132, OR
32,028
Population
12,411
Households
2.6
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
62.6 sq mi
ZIP Area
512
Density / Sq Mi
$95,150
Median Household Income
$46,005
Median Earnings
$1,567
Median Rent
$498,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer established occupancy and individual outdoor space near downtown Newberg and George Fox University.
Where is this duplex located?
The property is located at 300 N Morton ST Newberg, OR.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1972; Each residence includes 2 bedrooms, 1 bathroom, and 920 sq ft; Situated on a .18‑acre corner lot
