Midcentury Duplex with Two
For Sale
$830,000
Pending
3419 SE Cora Dr, Portland, OR 97202
Each residence offers a four-bedroom layout, private outdoor space, and access to a shared front porch.
Property Size3,758 SF
Days on Market15
Property Features for 3419 SE Cora Dr
General Information
Standard status
Pending
Size
3,758 SF
Property subtype
Multi Family Home
Zoning
R2
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,212
Amenities
shared front porch
Building Details
Building Size
3,758 SF
Year Built
1964
Buildings
1
Stories
2
Units
2
Listing Agency:
Think Real Estate
(503) 933-6538
Listed By:
Chandra Noble-Ashford
(503) 933-6538
Source:
Allprofessionalsre
Added: Aug 10
Changed: Aug 24
Last Checked: Aug 24 at 1:41PM
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 Think Real Estate
Investment Insights
Based on property information with market context.
This midcentury duplex at 3419 SE Cora Dr in Portland provides two residences with four bedrooms and two bathrooms per side. The west unit features oak flooring, an exposed brick fireplace, an open dining and kitchen arrangement, updated cabinetry, quartz countertops, appliances, and a finished basement with two bedrooms, a bathroom, and an updated laundry area. A side exit connects to its patio and yard.
The east residence mirrors the west-side layout in its main living areas and includes oak floors, an exposed brick fireplace, and private yard space. Its basement is partially finished and framed for completion in a configuration similar to the west unit. A shared front porch serves both sides. The property carries a Home Energy Score of 6, with a report available through the Green Building Registry.
The east residence mirrors the west-side layout in its main living areas and includes oak floors, an exposed brick fireplace, and private yard space. Its basement is partially finished and framed for completion in a configuration similar to the west unit. A shared front porch serves both sides. The property carries a Home Energy Score of 6, with a report available through the Green Building Registry.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 2 baths per side
- Midcentury construction with oak flooring and exposed brick fireplaces
- West unit includes a finished basement with 2 bedrooms and a 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
$54,603
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
6.58%
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%
$1,092,060
$1.1M
Cap Rate 7%
$780,043
$780.0K
Cap Rate 9%
$606,700
$606.7K
Market Conditions
NOI Build-Up for 3,758 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
$83.4K $22.20/SF
− Vacancy
−$5.4K −$1.44/SF
EGI
$78.0K $20.76/SF
− OpEx
−$23.4K −$6.23/SF
NOI
$54.6K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
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%
$1,092,060
Cap Rate 7%
$780,043
Cap Rate 9%
$606,700
Alternative Uses
Best Use
Multifamily LT 5
$780.0K
$682.5K – $910.1K
NOI $54,603 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$724.3K
$633.8K – $845.0K
NOI $50,700 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$896.5K
$784.5K – $1.05M
NOI $62,758 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
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 - Each residence offers a four-bedroom layout, private outdoor space, and access to a shared front porch.
Where is this duplex located?
The property is located at 3419 SE Cora Dr Portland, OR.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms and 2 baths per side; Midcentury construction with oak flooring and exposed brick fireplaces; West unit includes a finished basement with 2 bedrooms and a bathroom
