Duplex with Private
For Sale
$510,000
3305 NE 15TH St, Gresham, OR 97030
MultiFamily, Gresham, OR
Property Size1,900 SF
Lot Size0.19 Acres
Price / SF$268.42
Days on Market47
Property Features for 3305 NE 15TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LDR-7
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 3
Elementary school
Hall
Middle school
Gordon Russell
High school
Sam Barlow
Directions
S on Kane, E on NE 15th
Subdivision
_144
Standard status
Active
APN
R272195
Size
1,900 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
SOTOGRANDE, BLOCK 2, LOT 1
Tax Annual Amount
5215
Legal Description
SOTOGRANDE, BLOCK 2, LOT 1
Utilities
Heating system
Zoned
Amenities
fully fenced private yards
Building Details
Year built
1975
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Redfin
(503) 496-7620
Listed By:
William Grzebyk · License #201214217
(503) 505-2816
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 31 at 10:06AM
MLS# 269394030
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 1,900-square-foot duplex contains two distinct residences on a 0.19-acre lot. One unit provides three bedrooms and one bathroom with a detached garage, while the other includes two bedrooms, two bathrooms, and an attached garage. Both residences have fully fenced yards, and a large driveway supports off-street parking and garage access.
Constructed in 1975, the property has zoned heating, a composition roof, and LDR-7 zoning. Its Gresham setting places the duplex near shopping, dining, daily amenities, Gresham Golf Course, and Mt. Hood Community College. The separate floor plans and outdoor areas support owner occupancy, rental use, or a combination of both, as described by the property configuration.
Constructed in 1975, the property has zoned heating, a composition roof, and LDR-7 zoning. Its Gresham setting places the duplex near shopping, dining, daily amenities, Gresham Golf Course, and Mt. Hood Community College. The separate floor plans and outdoor areas support owner occupancy, rental use, or a combination of both, as described by the property configuration.
Key Highlights
- 1,900‑square‑foot duplex on a 0.19‑acre lot
- One unit with 3 bedrooms, 1 bathroom, and a detached garage
- Second unit includes 2 bedrooms, 2 bathrooms, and an attached garage
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
4.95%
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 4.95%
Second Best
Apartment 5plus
$324.0K
$283.5K – $378.0K
NOI $22,679 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$434.2K
$379.9K – $506.5K
NOI $30,392 @ 7.0% cap · market cap 5.96%
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 separate residences offer flexible layouts, dedicated garages, and fenced outdoor areas.
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 $510,000.
What are key features of this property?
This property features: 1,900‑square‑foot duplex on a 0.19‑acre lot; One unit with 3 bedrooms, 1 bathroom, and a detached garage; Second unit includes 2 bedrooms, 2 bathrooms, and an attached garage
