Remodeled
New
For Sale
$495,000
340 DEPOT St, Fairview, OR 97024
MultiFamily, Fairview, OR
Property Size1,656 SF
Lot Size0.20 Acres
Price / SF$298.91
Days on Market4
Property Features for 340 DEPOT St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R 7.5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Subdivision
Fairview
Elementary school
Fairview
Middle school
Reynolds
High school
Reynolds
Directions
Halsey, N 7th Rt on Main Lt on 4th to Depot
Standard status
Active
APN
R160661
Size
1,656 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
FAIRVIEW, BLOCK 2, W 16.67' OF LOT 4, E 41.66' OF LOT 5
Tax Annual Amount
3384
Legal Description
FAIRVIEW, BLOCK 2, W 16.67' OF LOT 4, E 41.66' OF LOT 5
Utilities
Heating system
Baseboard
Amenities
deck
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Marla Knauss · License #900400187
(503) 757-6995
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 4:06PM
MLS# 181549998
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 1,656-square-foot duplex contains two bedrooms and two bathrooms. Built in 1972, the property has baseboard heating and a composition roof. Updates include interior and exterior paint, a remodeled bathroom, and an in-unit laundry room in unit #320, along with a new deck, asphalt driveway, and appliances.
The 0.2-acre property is in Fairview, with freeway access, downtown, shopping, and restaurants nearby. Zoned R 7.5.
The 0.2-acre property is in Fairview, with freeway access, downtown, shopping, and restaurants nearby. Zoned R 7.5.
Key Highlights
- Two‑unit duplex with 1,656 square feet
- 0.2‑acre parcel in Fairview
- R 7.5 zoning
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
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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 - Two-unit residential property with in-unit laundry and updated interior and exterior features.
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: Two‑unit duplex with 1,656 square feet; 0.2‑acre parcel in Fairview; R 7.5 zoning
