Updated Duplex
New
For Sale
$499,900
3013 SE FRANCIS St, Portland, OR 97202
MultiFamily, Portland, OR
Property Size1,464 SF
Lot Size0.12 Acres
Price / SF$341.46
Days on Market4
Property Features for 3013 SE FRANCIS St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2.5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
Elementary school
Grout
Middle school
Hosford
High school
Cleveland
Directions
From Powell, South on SE 32nd Ave, West on SE Francis
Subdivision
_143
Standard status
Active
APN
R288106
Size
1,464 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
TOMLINSONS ADD, BLOCK 1, E 50' OF LOT 6&7
Tax Annual Amount
5858
Legal Description
TOMLINSONS ADD, BLOCK 1, E 50' OF LOT 6&7
Amenities
washer/dryer
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Timothy Ng · License #200710121
(503) 869-8396
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 8:06PM
MLS# 135511687
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 1,464-square-foot duplex was built in 1965 and includes two residential units. One unit at 3013 SE Francis has been updated with LVP flooring, interior paint, contemporary light fixtures, full-height kitchen cabinetry with soft-close hardware, a tile backsplash, quartz countertops, and an all-in-one washer and dryer. Both units have new 200-Amp electrical panels. The property has a composition roof and is situated on a 0.12-acre lot.
The second unit, at 3015 SE Francis, has been occupied by the same tenant since 2018. The property is located in Portland’s 97202 ZIP code and is zoned R2.5. The recorded room configuration includes four bedrooms and two bathrooms.
The second unit, at 3015 SE Francis, has been occupied by the same tenant since 2018. The property is located in Portland’s 97202 ZIP code and is zoned R2.5. The recorded room configuration includes four bedrooms and two bathrooms.
Key Highlights
- 1,464‑square‑foot duplex on a 0.12‑acre lot
- One unit updated with LVP flooring, new paint, lighting, cabinetry, tile backsplash, and quartz countertops
- Both units feature 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 income property with refreshed interiors, upgraded electrical systems, and R2.5 zoning.
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 on a 0.12‑acre lot; One unit updated with LVP flooring, new paint, lighting, cabinetry, tile backsplash, and quartz countertops; Both units feature new 200‑Amp electrical panels
