Renovated
New
For Sale
$374,000
370 NW YAMHILL St, Sheridan, OR 97378
MultiFamily, Sheridan, OR
Property Size1,672 SF
Lot Size0.14 Acres
Price / SF$223.68
Days on Market3
Property Features for 370 NW YAMHILL St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4
Elementary school
Faulconer-Chap
Middle school
Faulconer-Chap
High school
Sheridan
Directions
Hwy 157 to NW Gardner to NW Yamhill
Subdivision
_156
Standard status
Active
APN
221682
Size
1,672 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
TOWNSHIP 5S RANGE 6W SECTION 35 QTR B QQTR B TAXLOT 05400 SUBDIVI
Tax Annual Amount
1830
Legal Description
TOWNSHIP 5S RANGE 6W SECTION 35 QTR B QQTR B TAXLOT 05400 SUBDIVI
Utilities
Heating system
Baseboard, Zoned
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Alexander Johnson
(503) 333-9626
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 26 at 8:06AM
MLS# 390791968
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 1,672-square-foot duplex contains two units, each with 2 bedrooms and 1 bathroom, on a 0.14-acre lot. The interiors have been renovated with LVP flooring, double-pane vinyl windows, stainless steel appliances, and new paint inside and out. Electrical and plumbing systems were updated, including the main water line. The shingle roof and water heaters are approximately 6 years old; the property was built in 1945 and is zoned R3.
Located at 370 NW Yamhill St in Sheridan, the property has baseboard heating with zoned controls. Each unit measures just under 850 square feet. The projected cap rate is 6.98%.
Located at 370 NW Yamhill St in Sheridan, the property has baseboard heating with zoned controls. Each unit measures just under 850 square feet. The projected cap rate is 6.98%.
Key Highlights
- Two‑unit duplex with 1,672 square feet on a 0.14‑acre lot
- Each unit has 2 bedrooms and 1 bathroom and measures just under 850 square feet
- Renovations include updated electrical, plumbing, and the main water line
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
$21,468
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
5.74%
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%
$429,360
$429.4K
Cap Rate 7%
$306,686
$306.7K
Cap Rate 9%
$238,533
$238.5K
Market Conditions
NOI Build-Up for 1,672 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
$41.1K $24.60/SF
− Vacancy
−$2.1K −$1.25/SF
EGI
$39.0K $23.35/SF
− OpEx
−$17.6K −$10.51/SF
NOI
$21.5K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$429,360
Cap Rate 7%
$306,686
Cap Rate 9%
$238,533
Alternative Uses
Best Use
Apartment 5plus
$306.7K
$268.4K – $357.8K
NOI $21,468 @ 7.0% cap · market cap 5.74%
Second Best
Multifamily LT 5
$263.1K
$230.3K – $307.0K
NOI $18,420 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$451.3K
$394.9K – $526.5K
NOI $31,592 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 97378, OR
9,195
Population
2,891
Households
3.2
Avg Household Size
41
Median Age
15%
College-Educated
88%
High-School Grad
116.7 sq mi
ZIP Area
79
Density / Sq Mi
$80,680
Median Household Income
$37,009
Median Earnings
$1,078
Median Rent
$341,200
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 residences feature updated electrical and plumbing systems alongside refreshed finishes and appliances.
Where is this duplex located?
The property is located at 370 NW YAMHILL St Sheridan, OR.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,672 square feet on a 0.14‑acre lot; Each unit has 2 bedrooms and 1 bathroom and measures just under 850 square feet; Renovations include updated electrical, plumbing, and the main water line
