Duplex with Upper
For Sale
$327,000
608 Se 7th St, Pendleton, OR 97801
Two-unit property with deck space, basement storage, updated flooring, and separate utility responsibilities for occupants.
Property Size2,688 SF
Price / SF$121.65
Days on Market19
Property Features for 608 Se 7th St
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1977
Buildings
1
Listing Agency:
Coldwell Banker Farley Company
(541) 276-0021
Listed By:
Marsha Morgan · License #930900241
Source:
Vieweugenerealestate
Added: Aug 14
Changed: Aug 31
Last Checked: Aug 31 at 5:51PM
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 Coldwell Banker Farley Company
Investment Insights
Based on property information with market context.
Built in 1977, this 2,688-square-foot duplex includes bedrooms and kitchens in each unit, along with upper deck space. Basement storage and a utility room provide additional functional area, with direct access from the utility room to the backyard. The units share the backyard, and newer appliances remain with the property.
Interior features include vinyl plank flooring, wall-mounted AC units, and radiant ceiling heat. The home is all electric, while tenants pay their own utilities and the seller pays the water bill. Occupants are in place, providing an existing residential income configuration.
Interior features include vinyl plank flooring, wall-mounted AC units, and radiant ceiling heat. The home is all electric, while tenants pay their own utilities and the seller pays the water bill. Occupants are in place, providing an existing residential income configuration.
Key Highlights
- 2,688‑square‑foot duplex built in 1977
- Bedrooms and kitchens provided in each unit
- Upper deck space and shared backyard
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
$12,531
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
3.83%
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%
$250,620
$250.6K
Cap Rate 7%
$179,014
$179.0K
Cap Rate 9%
$139,233
$139.2K
Market Conditions
NOI Build-Up for 2,688 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
$19.4K $7.20/SF
− Vacancy
−$1.5K −$0.54/SF
EGI
$17.9K $6.66/SF
− OpEx
−$5.4K −$2.00/SF
NOI
$12.5K $4.66/SF
Area
Umatilla County, OR
Vacancy
7.50%
Lease Rate
$7.20 /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%
$250,620
Cap Rate 7%
$179,014
Cap Rate 9%
$139,233
Alternative Uses
Best Use
Multifamily LT 5
$179.0K
$156.6K – $208.9K
NOI $12,531 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$165.0K
$144.4K – $192.5K
NOI $11,549 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$562.7K
$492.4K – $656.5K
NOI $39,388 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 97801, OR
21,882
Population
9,033
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
92%
High-School Grad
496.2 sq mi
ZIP Area
44
Density / Sq Mi
$73,308
Median Household Income
$38,719
Median Earnings
$924
Median Rent
$277,600
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 - Two-unit property with deck space, basement storage, updated flooring, and separate utility responsibilities for occupants.
Where is this duplex located?
The property is located at 608 Se 7th St Pendleton, OR.
What is the asking price?
The asking price for this property is $327,000.
What are key features of this property?
This property features: 2,688‑square‑foot duplex built in 1977; Bedrooms and kitchens provided in each unit; Upper deck space and shared backyard
