507 NE DAVIS St, McMinnville, OR 97128
MULTI_FAMILY - McMinnville, OR
- Added:
- Oct 6, 2025
- Days on Market:
- 248
- Last Refresh:
- Jun 10 at 2:06 am
Property Features for 507 NE DAVIS St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C-3
- Bedrooms
- 9
- Bathrooms
- 6
- Rooms
- Bathroom 1, Bedroom 7, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 6, Bedroom 8, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 9, Bathroom 5, Bedroom 4, Bathroom 6, Bedroom 2
- Standard status
- Active
- APN
- 159580
- Size
- 5,350 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Description
- PT LOTS 1 2 & 4 - BLOCK 1 IN COURT ADDITION
- Tax Annual Amount
- 4055
Utilities
- Heating system
- Ductless (Heating)
- Cooling system
- Heat Pump
Building Details
- Year built
- 1940
- Floors in Building
- 2
- Number of units
- 5
- Roof type
- Composition
Listing agent Brielle Houston (971) 241-9647
Listing office Bella Casa Real Estate Group 207 NE 19th St Ste 100, McMinnville, OR (503) 437-9005
Listing date Oct 6, 2025
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.
HighLights
- Five‑unit multi‑family property with two units used as short‑term rentals
- New ductless heat pumps installed throughout for heating and cooling
- Newly renovated kitchens and bathrooms in four of the units
- Basement set up as a shared common space with a kitchen
- Updated wiring for an EV charging station
- Built in 1940 with a composition roof
Overview
Local 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 | $131.6k | $24.60 |
| − Vacancy | −$6.7k | −$1.25 |
| EGI | $124.9k | $23.35 |
| − OpEx | −$56.2k | −$10.51 |
| NOI | $68.7k | $12.84 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- McMinnville
- County
- Yamhill
- State
- Oregon
- Longitude
- -123.195846
- Latitude
- 45.211699
