Duplex with Alley Access
5106 NE 31ST Ave Portland, OR 97211
New
For Sale
$599,000
MULTI_FAMILY - Portland, OR
Property Size1,360 SF
Lot Size0.12 Acres
Price / SF$440.44
Days on Market4
Property Features for 5106 NE 31ST Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
- Standard status
- Active
- APN
- R166172
- Size
- 1,360 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- FOXCHASE ADD, BLOCK 13, LOT 13
- Tax Annual Amount
- 2869
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1923
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Composition
Listing Agency:
Oregon First
(503) 646-5006
Listed By:
Elise Campbell · License #980400079
(503) 307-1353
Added: Jul 20
Changed: Jul 23
Last Checked: Jul 23 at 4:06PM
MLS# 687554628
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 duplex contains two 1-bedroom, 1-bath units. Each unit includes gas cooking, a refrigerator, a dishwasher, and an in-unit laundry area with a washer and dryer, along with additional storage space. The units connect only through the storage areas. Recent updates include fresh interior and exterior paint, modern lighting, and new countertops throughout.
The front unit features off-street parking, a fenced yard with fresh landscaping, and new decking in the front and back. The back unit has two skylights, a new mini-split system providing heating and cooling, and a spacious deck surrounded by established landscaping, with alley access for parking.
Located steps away from NE Alberta near the Alberta Arts District, the property has a Walk Score of 88 and a Bike Score of 99. The listed Home Energy Score is 8. [Home Energy Score = 8. HES Report]
The front unit features off-street parking, a fenced yard with fresh landscaping, and new decking in the front and back. The back unit has two skylights, a new mini-split system providing heating and cooling, and a spacious deck surrounded by established landscaping, with alley access for parking.
Located steps away from NE Alberta near the Alberta Arts District, the property has a Walk Score of 88 and a Bike Score of 99. The listed Home Energy Score is 8. [Home Energy Score = 8. HES Report]
Key Highlights
- Duplex built in 1923 with forced‑air heating and composition roof
- Two 1‑bedroom, 1‑bath units with gas ranges, refrigerators, dishwashers, and in‑unit laundry with washers and dryers
- Recent upgrades include fresh interior and exterior paint, modern lighting, and new countertops throughout
Financial Insights For Multifamily LT 5
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 | $28.6k | $21.00 |
| − Vacancy | −$1.5k | −$1.09 |
| EGI | $27.1k | $19.91 |
| − OpEx | −$8.1k | −$5.97 |
| NOI | $19.0k | $13.94 |
1,360 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$270.7K
$236.9K – $315.9K
NOI $18,952 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$249.5K
$218.3K – $291.0K
NOI $17,462 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$381.9K
$334.2K – $445.6K
NOI $26,735 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex offering two 1-bedroom, 1-bath units with in-unit laundry and recent interior and exterior upgrades.
Where is this duplex located?
The property is located at 5106 NE 31ST Ave Portland, OR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Duplex built in 1923 with forced‑air heating and composition roof; Two 1‑bedroom, 1‑bath units with gas ranges, refrigerators, dishwashers, and in‑unit laundry with washers and dryers; Recent upgrades include fresh interior and exterior paint, modern lighting, and new countertops throughout
