Corner-Lot
New
For Sale
$585,000
300 N Morton St, Newberg, OR 97132
MultiFamily, Newberg, OR
Property Size1,841 SF
Lot Size0.18 Acres
Price / SF$317.76
Days on Market2
Property Features for 300 N Morton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1
Subdivision
NEWBERG
Elementary school
Antonia Crater
Middle school
Chehalem Valley
High school
Newberg
Directions
From 99W, North on Second Way, East on First St, North on Morton St, NE Corner of Morton & Sheridan
Standard status
Active
APN
44071
Size
1,841 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Hurley & Larges Addition, Block 30, Tax Lot 2
Tax Annual Amount
3426
Legal Description
Hurley & Larges Addition, Block 30, Tax Lot 2
Utilities
Heating system
Ceiling, Forced Air
Amenities
private back yard
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Roof type
Shingle, Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Michael Bernards
(503) 753-3151
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 8:06AM
MLS# 185605395
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 duplex contains two residential units, each with 2 bedrooms, 1 bathroom, and 920 square feet of living space. Built in 1972, the property includes ceiling and forced-air heating along with shingle and composition roofing. Each unit also has its own private backyard, while the corner-lot layout provides additional outdoor area for parking, storage, or other site functions.
The property is located at 300 N Morton St in Newberg, Oregon, within the 97132 ZIP code. Historic Downtown Newberg is described as being a short distance away, and George Fox University is nearby. The property is zoned R2 and occupies a 0.18-acre lot.
The property is located at 300 N Morton St in Newberg, Oregon, within the 97132 ZIP code. Historic Downtown Newberg is described as being a short distance away, and George Fox University is nearby. The property is zoned R2 and occupies a 0.18-acre lot.
Key Highlights
- Two‑unit duplex with 2 bedrooms, 1 bathroom, and 920 square feet per unit
- 0.18‑acre corner lot at 300 N Morton St, Newberg, OR 97132
- Private backyard provided for each unit
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
$23,638
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
4.04%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature private backyards and established long-term renters in place.
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 with 2 bedrooms, 1 bathroom, and 920 square feet per unit; 0.18‑acre corner lot at 300 N Morton St, Newberg, OR 97132; Private backyard provided for each unit
