Charming Duplex Near Reed
5181 SE 28th AVE #7 Portland, OR 97202
For Sale
$299,900
Duplex in Reed neighborhood, ideal for student housing or investment.
Property Size858 SF
Price / SF$349.53
Days on Market483
Property Features for 5181 SE 28th AVE #7
General Information
Standard status
Active
Size
858 SF
Property subtype
Condominium
Building Details
Year Built
2025
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Darryl Bodle II · License #199910100
(503) 709-4632
Source:
Kw
Added: Apr 4, 2025
Changed: Jul 6
Last Checked: Jul 29 at 1:01PM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
Located in the Reed neighborhood, this property is near Reed College and offers convenient access to restaurants, parks, and the Crystal Springs Rhododendron Garden. The property features a kitchen with cabinetry, backsplash, floating shelves, and accent lighting. The open-concept design connects the kitchen to the dining and living areas, which include an accent wall with built-ins and ambient lighting. The lower level includes a guest bath with tile work. Upstairs, the primary suite and secondary bedroom feature perimeter lighting, ceilings, and windows that provide natural light. The property includes a private, fenced yard with a patio. The neighborhoods of Woodstock, Brooklyn and Westmoreland are less than a mile away. The property is suitable for student housing or as an investment property. The property size is 858 square feet.
Key Highlights
- Prime location in the desirable Reed neighborhood, steps from Reed College.
- Open‑concept design with chef's kitchen featuring rich cabinetry, backsplash, floating shelves, and accent lighting.
- Primary suite and spacious secondary bedroom with perimeter lighting, soaring ceilings, and oversized windows.
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 | $19.0k | $22.20 |
| − Vacancy | −$1.2k | −$1.44 |
| EGI | $17.8k | $20.76 |
| − OpEx | −$5.3k | −$6.23 |
| NOI | $12.5k | $14.53 |
858 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$178.1K
$155.8K – $207.8K
NOI $12,467 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$165.4K
$144.7K – $192.9K
NOI $11,576 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$204.7K
$179.1K – $238.8K
NOI $14,329 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex in Reed neighborhood, ideal for student housing or investment.
Where is this duplex located?
The property is located at 5181 SE 28th AVE #7 Portland, OR.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Prime location in the desirable Reed neighborhood, steps from Reed College.; Open‑concept design with **chef's kitchen featuring rich cabinetry, backsplash, floating shelves, and accent lighting.**; **Primary suite and spacious secondary bedroom with perimeter lighting, soaring ceilings, and oversized windows.**
