Updated Duplex with Upgraded
New
For Sale
$499,900
3013 SE Francis ST, Portland, OR 97202
Two-unit residential property offering one refreshed home and a second unit with established tenancy.
Property Size1,464 SF
Price / SF$341.46
Days on Market3
Property Features for 3013 SE Francis ST
General Information
Standard status
Active
Size
1,464 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1965
Listing Agency:
Pacific Coast Real Estate & Development, LLC
(541) 297-2169
Listed By:
Linnea Kittrell
(541) 556-5292
Source:
Oregonrealestateadvisors
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 7 at 7:43AM
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 Pacific Coast Real Estate & Development, LLC
Investment Insights
Based on property information with market context.
This duplex in Portland includes two residential units within a 1,464-square-foot property built in 1965. One unit has received a broad interior refresh, including luxury vinyl plank flooring, new paint, updated lighting, full-height kitchen cabinetry with soft-close hardware, a tile backsplash, quartz counters, and an all-in-one washer and dryer. Both units have new 200-Amp electrical panels.
The second unit has been occupied by the same tenant since 2018, providing documented rental history. The property is located at 3013 and 3015 SE Francis Street in Portland, Oregon. The reported Home Energy Score is 5.
The second unit has been occupied by the same tenant since 2018, providing documented rental history. The property is located at 3013 and 3015 SE Francis Street in Portland, Oregon. The reported Home Energy Score is 5.
Key Highlights
- 1,464‑square‑foot duplex built in 1965
- One unit updated with LVP flooring, paint, lighting, cabinetry, tile backsplash, and quartz counters
- Both units equipped with new 200‑Amp electrical panels
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
$21,272
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
4.26%
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%
$425,440
$425.4K
Cap Rate 7%
$303,886
$303.9K
Cap Rate 9%
$236,356
$236.4K
Market Conditions
NOI Build-Up for 1,464 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
$32.5K $22.20/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$30.4K $20.76/SF
− OpEx
−$9.1K −$6.23/SF
NOI
$21.3K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /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%
$425,440
Cap Rate 7%
$303,886
Cap Rate 9%
$236,356
Alternative Uses
Best Use
Multifamily LT 5
$303.9K
$265.9K – $354.5K
NOI $21,272 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$282.2K
$246.9K – $329.2K
NOI $19,751 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$349.3K
$305.6K – $407.5K
NOI $24,449 @ 7.0% cap · market cap 4.89%
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
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
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-unit residential property offering one refreshed home and a second unit with established tenancy.
Where is this duplex located?
The property is located at 3013 SE Francis ST Portland, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,464‑square‑foot duplex built in 1965; One unit updated with LVP flooring, paint, lighting, cabinetry, tile backsplash, and quartz counters; Both units equipped with new 200‑Amp electrical panels
