Duplex with Forced-Air
For Sale
$625,000
Pending
305 NE 26TH AVE, Portland, OR 97232
The property offers driveway and on-street parking options in Portland’s 97232 area.
Property Size2,000 SF
Days on Market77
Property Features for 305 NE 26TH AVE
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Residential Income
Zoning
R2.5
Taxes and HOA fees
Annual Taxes
$4,877
Amenities
Window Unit(s)
Forced Air
Partial, Partially Finished, Unfinished
Driveway, On Street
Building Details
Building Size
2,000 SF
Year Built
1944
Stories
2
Listing Agency:
(971) 266-1802
Listed By:
Keri Friedman
(971) 266-1802
Source:
Evrealestate
Added: May 29
Changed: Aug 12
Last Checked: Aug 12 at 4:58AM
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 Keri Friedman
Investment Insights
Based on property information with market context.
This duplex was built in 1944 and includes forced-air heating along with window unit(s). Interior features include partially finished and unfinished areas, providing a mix of completed and flexible interior space. Exterior parking options consist of a driveway and on-street parking.
Located at 305 NE 26TH AVE in Portland, the property is within Multnomah County and carries R2.5 zoning. Directions reference NE Glisan with southbound access on 26th.
Located at 305 NE 26TH AVE in Portland, the property is within Multnomah County and carries R2.5 zoning. Directions reference NE Glisan with southbound access on 26th.
Key Highlights
- Duplex property built in 1944
- R2.5 zoning
- Forced‑air heating and window unit(s)
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
$27,871
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
4.46%
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%
$557,420
$557.4K
Cap Rate 7%
$398,157
$398.2K
Cap Rate 9%
$309,678
$309.7K
Market Conditions
NOI Build-Up for 2,000 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
$42.0K $21.00/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$39.8K $19.91/SF
− OpEx
−$11.9K −$5.97/SF
NOI
$27.9K $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%
$557,420
Cap Rate 7%
$398,157
Cap Rate 9%
$309,678
Alternative Uses
Best Use
Multifamily LT 5
$398.2K
$348.4K – $464.5K
NOI $27,871 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$366.9K
$321.0K – $428.0K
NOI $25,680 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$561.6K
$491.4K – $655.3K
NOI $39,315 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,802
Businesses Nearby
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The property offers driveway and on-street parking options in Portland’s 97232 area.
Where is this duplex located?
The property is located at 305 NE 26TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Duplex property built in 1944; R2.5 zoning; Forced‑air heating and window unit(s)
