Triplex with Updated
New
For Sale
$695,000
5315 SE 97TH Ave, Portland, OR 97266
MultiFamily, Portland, OR
Property Size3,125 SF
Lot Size0.23 Acres
Price / SF$222.40
Days on Market6
Property Features for 5315 SE 97TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5A
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 4, Bathroom 3, Bathroom 2
Elementary school
Lent
Middle school
Kellogg
High school
Franklin
Directions
SE Harold to SE 97th N. to property, down private dr.
Subdivision
_143
Standard status
Active
APN
R543599
Size
3,125 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
PARTITION PLAT 2004-7, LOT 2
Tax Annual Amount
9557
Legal Description
PARTITION PLAT 2004-7, LOT 2
Utilities
Heating system
Forced Air
Cooling system
Central Air, Wall Unit(s)
Amenities
laundry
patio/deck
storage
Building Details
Year built
2007
Floors in Building
3
Number of units
3
Roof type
Composition
Listing Agency:
Soldera Properties, Inc
(503) 334-1515
Listed By:
Daniela Pislaras
(971) 331-9190
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 22 at 6:06PM
MLS# 603343825
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 3,125-square-foot triplex, built in 2007, includes three distinct living areas. The primary residence has 3 bedrooms, 2.1 bathrooms, an open living area, a spacious kitchen with stainless steel appliances, recessed lighting, a 2-car garage, storage, and patio or deck space. A lower-level suite adds 2 bedrooms, 1 bathroom, an updated kitchen area, laundry, additional living space, and a bathroom with a glass-enclosed shower. The second residence provides 2 bedrooms, 1 bathroom, a 1-car garage, and additional storage.
The property occupies 0.23 acres at 5315 SE 97TH Ave in Portland, OR 97266. It has R5A zoning, forced-air heating, central air, wall-unit cooling, and a composition roof. The second residence is occupied by a long-term tenant, while the seller may remain in the primary residence under a 1-year lease or vacate.
The property occupies 0.23 acres at 5315 SE 97TH Ave in Portland, OR 97266. It has R5A zoning, forced-air heating, central air, wall-unit cooling, and a composition roof. The second residence is occupied by a long-term tenant, while the seller may remain in the primary residence under a 1-year lease or vacate.
Key Highlights
- 3,125‑square‑foot triplex on 0.23 acres
- Primary residence includes 3 bedrooms, 2.1 bathrooms, and a 2‑car garage
- Lower‑level suite offers 2 bedrooms, 1 bathroom, kitchen area, laundry, and additional living space
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
$43,549
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
6.27%
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%
$870,980
$871.0K
Cap Rate 7%
$622,129
$622.1K
Cap Rate 9%
$483,878
$483.9K
Market Conditions
NOI Build-Up for 3,125 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
$65.6K $21.00/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$62.2K $19.91/SF
− OpEx
−$18.7K −$5.97/SF
NOI
$43.5K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$870,980
Cap Rate 7%
$622,129
Cap Rate 9%
$483,878
Alternative Uses
Best Use
Multifamily LT 5
$622.1K
$544.4K – $725.8K
NOI $43,549 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$573.2K
$501.6K – $668.8K
NOI $40,125 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$877.6K
$767.9K – $1.02M
NOI $61,430 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 97266, OR
36,095
Population
13,863
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
5,917
Density / Sq Mi
$71,791
Median Household Income
$39,856
Median Earnings
$1,532
Median Rent
$420,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three separate living areas include garages, storage, kitchens, laundry, and private outdoor space.
Where is this triplex located?
The property is located at 5315 SE 97TH Ave Portland, 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: 3,125‑square‑foot triplex on 0.23 acres; Primary residence includes 3 bedrooms, 2.1 bathrooms, and a 2‑car garage; Lower‑level suite offers 2 bedrooms, 1 bathroom, kitchen area, laundry, and additional living space
