Building Details

Building Size 1,536 SF

Year Built 1966

Listing Agency: Bridger Management

Listed By: Chris Hoeschen Show Phone

Source: Currangrouprealtors

Added: Sep 15 Changed: Sep 18 Last Checked: Sep 22 at 9:31PM

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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 Bridger Management

Investment Insights

Based on property information with market context.

This duplex contains two recently remodeled units, each updated with LVP flooring, new fixtures, interior paint, and new appliances. Exterior improvements include fresh paint, roof repairs, and completed landscaping work. The property is fully leased, with tenants responsible for water, sewer, garbage, and basic landscaping and mowing.

The property is located at 33376 NW Wickstrom Dr in Scappoose, Oregon, within a 100-year floodplain. Recent interior and exterior work provides a current physical profile across both units, while the existing lease status establishes an occupied income-producing configuration.

Key Highlights

• Two‑unit duplex with both residences recently remodeled
• LVP flooring, new fixtures, interior paint, and new appliances in both units
• New exterior paint, roof repairs, and landscaping completed summer 2026

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

$22,397

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

4.72%

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%

$447,940 $447.9K

Cap Rate 7%

$319,957 $320.0K

Cap Rate 9%

$248,856 $248.9K

Market Conditions

NOI Build-Up for 1,536 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

$34.1K $22.20/SF

− Vacancy

−$2.1K −$1.37/SF

EGI

$32.0K $20.83/SF

− OpEx

−$9.6K −$6.25/SF

NOI

$22.4K $14.58/SF

Area

Columbia County, OR

Vacancy

6.17%

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%

$447,940

Cap Rate 7%

$319,957

Cap Rate 9%

$248,856

Alternative Uses

Best Use

Multifamily LT 5

$320.0K

$280.0K – $373.3K (±1% cap)

NOI $22,397 @ 7.0% cap · market cap 4.72%

Second Best

Apartment 5plus

$281.7K

$246.5K – $328.7K (±1% cap)

NOI $19,722 @ 7.0% cap · market cap 4.15%

Theoretical Best

Office A

$414.6K

$362.8K – $483.7K (±1% cap)

NOI $29,022 @ 7.0% cap · market cap 6.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Big Box & Wholesale Store Hair Salon Restaurant Dental Office Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 97056, OR

12,926

Population

5,179

Households

2.5

Avg Household Size

44

Median Age

23%

College-Educated

91%

High-School Grad

110.7 sq mi

ZIP Area

117

Density / Sq Mi

$95,351

Median Household Income

$50,489

Median Earnings

$1,612

Median Rent

$437,500

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two leased units offer refreshed interiors, updated appliances, and durable LVP flooring.

Where is this duplex located?

The property is located at 33376 NW WICKSTROM DR Scappoose, OR.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Two‑unit duplex with both residences recently remodeled; LVP flooring, new fixtures, interior paint, and new appliances in both units; New exterior paint, roof repairs, and landscaping completed summer 2026