Duplex with Shared
For Sale
$850,000
3136 NE COUCH ST, Portland, OR 97232
For sale duplex with two 2-bed, 1-bath units, original hardwood floors, shared backyard, basement, and off-street parking.
Property Size2,472 SF
Price / SF$343.85
Days on Market189
Property Features for 3136 NE COUCH ST
General Information
Standard status
Active
Size
2,472 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R2.5
Net Operating Income
$28,540
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,855
Amenities
shared backyard
full basement
off street parking
Basement,Garage
ExteriorEntry,FullBasement,PartiallyFinished
Electricity
UnitTypeType1,UnitTypeType2
Gas
2
AirConditioning,Furnished,HardwoodFloors,WasherDryer
AirConditioning,Furnished,HardwoodFloors
1
2350
2650
Level,PublicRoad
PublicWater
2.0
4175 sqft
0.1
Driveway,OnStreet
Paved
ConcretePerimeter
2472.0
Stucco
Building Details
Building Size
2,472 SF
Year Built
1926
Stories
3
Construction
craftsman
Listing Agency:
Soldera Properties, Inc
(971) 271-8932
Listed By:
Carmen Hart
(971) 266-0206
Source:
Premierepropertygroup
Added: Mar 5
Changed: Sep 10
Last Checked: Sep 10 at 5:29AM
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 Soldera Properties, Inc
Investment Insights
Based on property information with market context.
This duplex at 3136 NE Couch St features two separate 2-bedroom, 1-bath units. Both units highlight original hardwood floors and bright natural light. The property also includes a shared backyard and a full basement for additional storage or flexible use, along with off-street parking for added everyday convenience.
Situated in the Kerns area, the home is described as steps from Laurelhurst Park and close to coffee and craft beer. The remarks also note proximity to NE 28th and Burnside.
With two residential units and practical interior and outdoor space, this property offers built-in versatility for buyers looking for a duplex configuration in a walkable neighborhood setting.
Situated in the Kerns area, the home is described as steps from Laurelhurst Park and close to coffee and craft beer. The remarks also note proximity to NE 28th and Burnside.
With two residential units and practical interior and outdoor space, this property offers built-in versatility for buyers looking for a duplex configuration in a walkable neighborhood setting.
Key Highlights
- Duplex built in 1926 with 2 units total, each offering 2 beds and 1 bath
- Each unit includes hardwood floors; Unit 1 also has washer/dryer, while both units are furnished
- Unit rents are $2,350 (Unit 1) and $2,650 (Unit 2)
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
$34,449
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
4.05%
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%
$688,980
$689.0K
Cap Rate 7%
$492,129
$492.1K
Cap Rate 9%
$382,767
$382.8K
Market Conditions
NOI Build-Up for 2,472 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
$51.9K $21.00/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$49.2K $19.91/SF
− OpEx
−$14.8K −$5.97/SF
NOI
$34.4K $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%
$688,980
Cap Rate 7%
$492,129
Cap Rate 9%
$382,767
Alternative Uses
Best Use
Multifamily LT 5
$492.1K
$430.6K – $574.2K
NOI $34,449 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$453.4K
$396.8K – $529.0K
NOI $31,740 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$694.2K
$607.4K – $809.9K
NOI $48,594 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,832
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - For sale duplex with two 2-bed, 1-bath units, original hardwood floors, shared backyard, basement, and off-street parking.
Where is this duplex located?
The property is located at 3136 NE COUCH ST Portland, OR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Duplex built in 1926 with 2 units total, each offering 2 beds and 1 bath; Each unit includes hardwood floors; Unit 1 also has washer/dryer, while both units are furnished; Unit rents are $2,350 (Unit 1) and $2,650 (Unit 2)
