Duplex With Private Fenced
For Sale
$530,000
3305 NE 15TH ST, Gresham, OR 97030
Two residences provide individual fenced outdoor areas, garage access, and off-street parking.
Property Size1,900 SF
Days on Market27
Property Features for 3305 NE 15TH ST
General Information
Standard status
Active
Size
1,900 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,215
Amenities
private outdoor spaces
detached garage
attached garage
fully fenced private yards
large driveway
Building Details
Building Size
1,900 SF
Year Built
1975
Listing Agency:
Redfin
(503) 505-2816
Listed By:
William Grzebyk · License #201214217
(503) 505-2816
Source:
Eleeterealestate
Added: Jul 16
Changed: Aug 4
Last Checked: Aug 11 at 1:10PM
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 Redfin
Investment Insights
Based on property information with market context.
Built in 1975, this duplex contains two distinct residences with spacious floor plans and private outdoor areas. The first unit includes three bedrooms, one bathroom, a detached garage, and a large living area. The second offers two bedrooms, two bathrooms, an attached garage, and comparable room to accommodate daily living. Each residence has its own fully fenced yard, while a large driveway serves both units and provides off-street parking.
The property is near shopping, dining, and everyday amenities, with Gresham Golf Course and Mt. Hood Community College also identified in the surrounding area. The two-unit configuration supports owner occupancy in one residence while the other generates income, subject to applicable requirements and arrangements.
The property is near shopping, dining, and everyday amenities, with Gresham Golf Course and Mt. Hood Community College also identified in the surrounding area. The two-unit configuration supports owner occupancy in one residence while the other generates income, subject to applicable requirements and arrangements.
Key Highlights
- Two‑unit duplex built in 1975
- Unit mix includes 3 bedrooms and 1 bathroom, plus 2 bedrooms and 2 bathrooms
- Each residence has a fully fenced private yard
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
$25,228
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
4.76%
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%
$504,560
$504.6K
Cap Rate 7%
$360,400
$360.4K
Cap Rate 9%
$280,311
$280.3K
Market Conditions
NOI Build-Up for 1,900 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
$37.6K $19.80/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$36.0K $18.97/SF
− OpEx
−$10.8K −$5.69/SF
NOI
$25.2K $13.28/SF
Area
Gresham, OR
Vacancy
4.20%
Lease Rate
$19.80 /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%
$504,560
Cap Rate 7%
$360,400
Cap Rate 9%
$280,311
Alternative Uses
Best Use
Multifamily LT 5
$360.4K
$315.4K – $420.5K
NOI $25,228 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$324.0K
$283.5K – $378.0K
NOI $22,679 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$434.2K
$379.9K – $506.5K
NOI $30,392 @ 7.0% cap · market cap 5.73%
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
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
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 residences provide individual fenced outdoor areas, garage access, and off-street parking.
Where is this duplex located?
The property is located at 3305 NE 15TH ST Gresham, OR.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1975; Unit mix includes 3 bedrooms and 1 bathroom, plus 2 bedrooms and 2 bathrooms; Each residence has a fully fenced private yard
