Updated
New
For Sale
$495,000
340 DEPOT ST, Fairview, OR 97024
Two units offer a practical residential income configuration near freeway access, downtown Fairview, shops and restaurants.
Property Size1,656 SF
Days on Market5
Property Features for 340 DEPOT ST
General Information
Standard status
Active
Size
1,656 SF
Property subtype
MULTI_FAMILY
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,383
Building Details
Building Size
1,656 SF
Year Built
1972
Buildings
1
Listing Agency:
Premiere Property Group, LLC
Listed By:
Marla Knauss · License #900400187
(503) 757-6995
Source:
Eleeterealestate
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 4:35PM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This 1,656-square-foot duplex was built in 1972 and has received updates to its interior and exterior paint. Unit #320 includes an updated bathroom and laundry room; the property also has a new deck, asphalt driveway and appliances.
The duplex is near freeway access, downtown Fairview, shopping and restaurants. Its two-unit configuration and recent improvements provide a clear, straightforward residential income property.
The duplex is near freeway access, downtown Fairview, shopping and restaurants. Its two-unit configuration and recent improvements provide a clear, straightforward residential income property.
Key Highlights
- 1,656‑square‑foot duplex built in 1972
- Unit #320 features an updated bathroom and in‑unit laundry room
- New deck and asphalt driveway
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
$24,319
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
4.91%
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%
$486,380
$486.4K
Cap Rate 7%
$347,414
$347.4K
Cap Rate 9%
$270,211
$270.2K
Market Conditions
NOI Build-Up for 1,656 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
$36.8K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.7K $20.98/SF
− OpEx
−$10.4K −$6.29/SF
NOI
$24.3K $14.69/SF
Area
Multnomah County, OR
Vacancy
5.50%
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%
$486,380
Cap Rate 7%
$347,414
Cap Rate 9%
$270,211
Alternative Uses
Best Use
Multifamily LT 5
$347.4K
$304.0K – $405.3K
NOI $24,319 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$303.8K
$265.8K – $354.4K
NOI $21,263 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$447.0K
$391.1K – $521.5K
NOI $31,290 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 97024, OR
11,980
Population
5,157
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
3,524
Density / Sq Mi
$71,649
Median Household Income
$39,911
Median Earnings
$1,503
Median Rent
$404,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two units offer a practical residential income configuration near freeway access, downtown Fairview, shops and restaurants.
Where is this duplex located?
The property is located at 340 DEPOT ST Fairview, OR.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,656‑square‑foot duplex built in 1972; Unit #320 features an updated bathroom and in‑unit laundry room; New deck and asphalt driveway
