New Condo Near Legacy
For Sale
$297,900
3562 NE Garfield AVE #7, Portland, OR 97212
New construction 2 bed, 2.1 bath condo near Legacy Emanuel.
Property Size918 SF
Price / SF$324.51
Days on Market685
Property Features for 3562 NE Garfield AVE #7
General Information
Standard status
Active
Size
918 SF
Property subtype
Condominium
Building Details
Year Built
2024
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Darryl Bodle II · License #199910100
(503) 709-4632
Source:
Kw
Added: Sep 18, 2024
Changed: Jul 6
Last Checked: Aug 2 at 1:32PM
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 Portland Premiere
Investment Insights
Based on property information with market context.
This new construction condo offers a blend of modern architecture and elevated design. The open concept floor plan features expansive windows, creating a light and bright atmosphere, complemented by a private, fenced patio and air conditioning. High-end finishes are evident throughout, including a custom kitchen with modern cabinetry, quartz counters, tile backsplash, and stainless steel appliances. Sleek black fixtures, lofty ceilings, and designer tones complete the interior. The condo includes 2 bedrooms and 2.1 bathrooms. Located near restaurants, shops, and coffee, it boasts a 95 WalkScore and 100 BikeScore. It is located less than 0.5 miles from Legacy Emanuel Hospital and near the Vancouver/Williams Corridor. A 1-year builder warranty from a local boutique builder provides peace of mind. The property size is 918 square feet.
Key Highlights
- Phenomenal location: 95 WalkScore/100 BikeScore, near restaurants, shops, coffee, Vancouver/Williams Corridor, and Legacy Emanuel Hospital.
- New construction condo with modern architecture and high‑end finishes throughout.
- Open concept floor plan with expansive windows, private fenced patio, and AC.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.6k | $24.60 |
| − Vacancy | −$1.2k | −$1.25 |
| EGI | $21.4k | $23.35 |
| − OpEx | −$9.6k | −$10.51 |
| NOI | $11.8k | $12.84 |
918 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$168.4K
$147.3K – $196.5K
NOI $11,787 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.8K
$225.6K – $300.8K
NOI $18,046 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
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?
Apartment building - New construction 2 bed, 2.1 bath condo near Legacy Emanuel.
Where is this apartment building located?
The property is located at 3562 NE Garfield AVE #7 Portland, OR.
What is the asking price?
The asking price for this property is $297,900.
What are key features of this property?
This property features: Phenomenal location: 95 WalkScore/100 BikeScore, near restaurants, shops, coffee, Vancouver/Williams Corridor, and Legacy Emanuel Hospital.; New construction condo with modern architecture and high‑end finishes throughout.; Open concept floor plan with expansive windows, private fenced patio, and AC.
