3-Bedroom Duplex with Attached
For Sale
$600,000
441 W GLOUCESTER ST, Gladstone, OR 97027
Well-maintained duplex with two 3BR/2BA units, attached 1-car garages, patios, and in-unit laundry.
Property Size2,240 SF
Price / SF$267.86
Days on Market271
Property Features for 441 W GLOUCESTER ST
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
MR
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,934
Amenities
Electricity
UnitTypeType1,UnitTypeType2
3
Dishwasher,Range,Refrigerator,WoodStove
2
1806
1
1554
Level
PublicWater
2.0
0.19
Attached,Garage
Paved
2240.0
WoodSiding
Building Details
Building Size
2,240 SF
Year Built
1973
Stories
1
Tenancy
Multi
Listing Agency:
Muljat Group
(503) 330-0230
Listed By:
Steven Wong · License #201236006
(503) 330-0230
Source:
Premierepropertygroup
Added: Nov 19, 2025
Changed: Aug 17
Last Checked: Aug 17 at 3:48AM
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 Muljat Group
Investment Insights
Based on property information with market context.
This well-maintained duplex offers flexible living and income options, with two spacious units laid out for everyday comfort. Each unit includes three bedrooms and two bathrooms, an attached one-car garage, and features a large living room with a cozy wood stove. Kitchens come equipped with a dishwasher, range, and refrigerator, along with a dining area that includes pantry/closet storage. Sliding doors lead to a private patio for indoor/outdoor living. The primary bedroom includes its own private bath, while two additional bedrooms share a full guest bath. In-unit laundry space adds convenience to each home.
The property is positioned in a desirable area with walk and bike scores, and it is described as being just minutes from dining, shopping, schools, and parks with walking and biking paths. Commuters are also supported by quick access to 99E.
For buyers considering owner-occupancy, the duplex design supports living in one unit while renting the other to help offset housing costs. For investors, the property provides two separate, self-contained residences with similar layouts and practical in-unit features such as laundry and attached garages, making it a straightforward fit for those seeking manageable multifamily ownership.
The property is positioned in a desirable area with walk and bike scores, and it is described as being just minutes from dining, shopping, schools, and parks with walking and biking paths. Commuters are also supported by quick access to 99E.
For buyers considering owner-occupancy, the duplex design supports living in one unit while renting the other to help offset housing costs. For investors, the property provides two separate, self-contained residences with similar layouts and practical in-unit features such as laundry and attached garages, making it a straightforward fit for those seeking manageable multifamily ownership.
Key Highlights
- Well‑maintained duplex built in 1973 with 2 units, each featuring 3 bedrooms and 2 full baths.
- Each unit includes a wood stove, dishwasher, range, and refrigerator.
- Unit 1 rents for $1,806/month; Unit 2 rents for $1,554/month (1 unit total per unit type).
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
$28,762
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
4.79%
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%
$575,240
$575.2K
Cap Rate 7%
$410,886
$410.9K
Cap Rate 9%
$319,578
$319.6K
Market Conditions
NOI Build-Up for 2,240 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
$55.1K $24.60/SF
− Vacancy
−$2.8K −$1.25/SF
EGI
$52.3K $23.35/SF
− OpEx
−$23.5K −$10.51/SF
NOI
$28.8K $12.84/SF
Area
Clackamas 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%
$575,240
Cap Rate 7%
$410,886
Cap Rate 9%
$319,578
Alternative Uses
Best Use
Apartment 5plus
$410.9K
$359.5K – $479.4K
NOI $28,762 @ 7.0% cap · market cap 4.79%
Second Best
Multifamily LT 5
$402.0K
$351.7K – $469.0K
NOI $28,137 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$604.6K
$529.1K – $705.4K
NOI $42,324 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 97027, OR
12,599
Population
5,365
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
5,040
Density / Sq Mi
$91,957
Median Household Income
$49,689
Median Earnings
$1,721
Median Rent
$464,700
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 - Well-maintained duplex with two 3BR/2BA units, attached 1-car garages, patios, and in-unit laundry.
Where is this duplex located?
The property is located at 441 W GLOUCESTER ST Gladstone, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Well‑maintained duplex built in 1973 with 2 units, each featuring 3 bedrooms and 2 full baths.; Each unit includes a wood stove, dishwasher, range, and refrigerator.; Unit 1 rents for $1,806/month; Unit 2 rents for $1,554/month (1 unit total per unit type).
