Well-Maintained Duplex
3942 SE Monroe St Milwaukie, OR 97222
For Sale
$695,000
Two-unit duplex with separate garages, parking, and in-unit washer/dryer for each unit.
Days on Market21
Property Features for 3942 SE Monroe St
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Year Built
1981
Listing Agency:
Harnish Company Realtors
(503) 490-5813
Listed By:
Kelly Fitzmaurice
(503) 490-5813
Source:
Metanars
Added: Jul 10
Changed: Jul 26
Last Checked: Jul 29 at 12:36PM
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 Harnish Company Realtors
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two separate residential units. The 3944 side features a three-bedroom, one-bath layout, while the 3942 unit offers two bedrooms and one bathroom. Both units have dishwashers and washer/dryer, with access to backyard space.
Each unit also includes its own garage and parking, helping to maintain separate day-to-day access. Both units are currently occupied under annual leases.
The property’s current configuration supports straightforward duplex living with each unit set up as a self-contained home, including laundry appliances and a separate garage.
Each unit also includes its own garage and parking, helping to maintain separate day-to-day access. Both units are currently occupied under annual leases.
The property’s current configuration supports straightforward duplex living with each unit set up as a self-contained home, including laundry appliances and a separate garage.
Key Highlights
- 1981‑built 2‑unit duplex with both units currently occupied on annual leases
- 3944 unit: 3 bed, 1 bath, plus separate garage and parking
- 3942 unit: 2 bed, 1 bath, plus separate garage and parking
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 | $50.7k | $24.60 |
| − Vacancy | −$2.6k | −$1.25 |
| EGI | $48.1k | $23.35 |
| − OpEx | −$21.6k | −$10.51 |
| NOI | $26.5k | $12.84 |
2,060 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$377.9K
$330.6K – $440.8K
NOI $26,450 @ 7.0% cap · market cap 3.81%
Second Best
Multifamily LT 5
$369.7K
$323.5K – $431.3K
NOI $25,876 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$556.0K
$486.5K – $648.7K
NOI $38,923 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with separate garages, parking, and in-unit washer/dryer for each unit.
Where is this duplex located?
The property is located at 3942 SE Monroe St Milwaukie, OR.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 1981‑built 2‑unit duplex with both units currently occupied on annual leases; 3944 unit: 3 bed, 1 bath, plus separate garage and parking; 3942 unit: 2 bed, 1 bath, plus separate garage and parking
