Updated Duplex with Separate
For Sale
$825,000
3412 SW 13TH Ave, Portland, OR 97239
MultiFamily, Portland, OR
Property Size4,781 SF
Lot Size0.12 Acres
Price / SF$172.56
Days on Market580
Property Features for 3412 SW 13TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 2, Bathroom 6, Bedroom 8, Bathroom 5, Bedroom 2, Bedroom 4, Bedroom 7, Bedroom 6
Subdivision
SW HILLS
View
Territorial
Elementary school
Ainsworth
Middle school
West Sylvan
High school
Lincoln
Directions
From SW 6th turn South onto SW 13th. House is at the end of the street on the left.
Standard status
Active
APN
R247211
Size
4,781 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
PORTLAND CITY HMSTD, BLOCK 57, LOT 7
Tax Annual Amount
13397
Legal Description
PORTLAND CITY HMSTD, BLOCK 57, LOT 7
Utilities
Heating system
Forced Air
Building Details
Year built
1950
Floors in Building
3
Number of units
2
Roof type
Metal
Listing Agency:
Keller Williams Realty Professionals
(503) 546-9955
Listed By:
Zachary Eaton · License #201206055
(503) 349-7037
Added: Feb 7, 2025
Changed: Sep 1
Last Checked: Sep 10 at 8:06PM
MLS# 596525215
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 4,781-square-foot duplex, built in 1950, combines a six-bedroom, four-bathroom primary residence with a distinct lower-level unit. The secondary residence has two bedrooms, one bathroom, its own entrance, a full kitchen, dining area, laundry room, living room, and fireplace. The main residence includes a bonus room, family room with fireplace, kitchen, and adjoining dining space. The property sits on a 0.12-acre lot with a metal roof and forced-air heating.
Recent improvements include interior and exterior paint, kitchen and appliance updates, new light fixtures and carpeting, refinished wood floors, a furnace replacement, and installation of a mini-split. The home is in Portland's SW Hills, with restaurants, PSU, and downtown Portland nearby. OHSU and Marquam Nature Park are described as being within walking distance.
Recent improvements include interior and exterior paint, kitchen and appliance updates, new light fixtures and carpeting, refinished wood floors, a furnace replacement, and installation of a mini-split. The home is in Portland's SW Hills, with restaurants, PSU, and downtown Portland nearby. OHSU and Marquam Nature Park are described as being within walking distance.
Key Highlights
- 4,781‑square‑foot duplex on a 0.12‑acre lot
- Eight bedrooms and six full bathrooms across two residences
- Lower‑level unit has a separate entrance, full kitchen, laundry room, and living room fireplace
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
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Current Use
Lease Details
2
Residential units
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
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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-level layout includes a six-bedroom main residence and separate two-bedroom lower-level unit.
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‑square‑foot duplex on a 0.12‑acre lot; Eight bedrooms and six full bathrooms across two residences; Lower‑level unit has a separate entrance, full kitchen, laundry room, and living room fireplace
