Duplex with Separate Lower-Level
For Sale
$825,000
3412 SW 13th Ave, Portland, OR 97239
Two distinct living areas support multigenerational occupancy, in-law use, or a dedicated home office arrangement.
Property Size4,781 SF
Price / SF$172.56
Days on Market22
Property Features for 3412 SW 13th Ave
General Information
Standard status
Active
Size
4,781 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Keller Williams Realty Professionals
(503) 546-9955
Listed By:
Zachary Eaton · License #201206055
Source:
Christiesrealestateevg
Added: Aug 8
Changed: Aug 27
Last Checked: Aug 29 at 12:05PM
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 Keller Williams Realty Professionals
Investment Insights
Based on property information with market context.
This 4,781 SF duplex, built in 1950, combines a primary residence with a separately entered lower-level unit. The main level includes six bedrooms, four full bathrooms, a bonus room, family room with fireplace, kitchen, and adjoining dining room. The lower unit adds two bedrooms, one full bathroom, a full kitchen, dining area, laundry room, living room, and its own fireplace.
Recent improvements include interior and exterior paint, kitchen and appliance updates, new light fixtures, carpet, refinished wood floors, a new furnace, and a mini-split system. The property sits on a low-maintenance, tree-surrounded lot with territorial views at 3412 SW 13th Ave in Portland. Restaurants, PSU, downtown Portland, OHSU, and Marquam Nature Park are nearby, with OHSU and the park described as walkable from the home.
Recent improvements include interior and exterior paint, kitchen and appliance updates, new light fixtures, carpet, refinished wood floors, a new furnace, and a mini-split system. The property sits on a low-maintenance, tree-surrounded lot with territorial views at 3412 SW 13th Ave in Portland. Restaurants, PSU, downtown Portland, OHSU, and Marquam Nature Park are nearby, with OHSU and the park described as walkable from the home.
Key Highlights
- 4,781 SF duplex built in 1950
- Main residence includes 6 bedrooms and 4 full bathrooms
- Separate lower‑level unit with 2 bedrooms and 1 full bathroom
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
$66,626
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
8.08%
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%
$1,332,520
$1.3M
Cap Rate 7%
$951,800
$951.8K
Cap Rate 9%
$740,289
$740.3K
Market Conditions
NOI Build-Up for 4,781 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
$100.4K $21.00/SF
− Vacancy
−$5.2K −$1.09/SF
EGI
$95.2K $19.91/SF
− OpEx
−$28.6K −$5.97/SF
NOI
$66.6K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$1,332,520
Cap Rate 7%
$951,800
Cap Rate 9%
$740,289
Alternative Uses
Best Use
Multifamily LT 5
$951.8K
$832.8K – $1.11M
NOI $66,626 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$877.0K
$767.4K – $1.02M
NOI $61,388 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.34M
$1.17M – $1.57M
NOI $93,984 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
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 distinct living areas support multigenerational occupancy, in-law use, or a dedicated home office arrangement.
Where is this duplex located?
The property is located at 3412 SW 13th Ave Portland, OR.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4,781 SF duplex built in 1950; Main residence includes 6 bedrooms and 4 full bathrooms; Separate lower‑level unit with 2 bedrooms and 1 full bathroom
