Updated Duplex with Upper
New
For Sale
$327,000
608 SE 7TH St, Pendleton, OR 97801
MultiFamily, Pendleton, OR
Property Size2,688 SF
Lot Size0.17 Acres
Price / SF$121.65
Days on Market2
Property Features for 608 SE 7TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bathroom 4
View
Territorial, City
Elementary school
Sherwood Hts
Middle school
Sunridge
High school
Pendleton
Directions
SE Goodwin Ave., SE 7th.
Subdivision
_435
Standard status
Active
APN
112071
Size
2,688 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Lot 12, S. half of Lot 13, Block 173, Reservation Addition
Tax Annual Amount
2142
Legal Description
Lot 12, S. half of Lot 13, Block 173, Reservation Addition
Utilities
Heating system
Ceiling, Radiant, Baseboard
Cooling system
Wall Unit(s)
Amenities
upper deck
basement storage
backyard
Building Details
Year built
1977
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Coldwell Banker Farley Company · Coldwell Banker Real Estate
(541) 276-0021
Listed By:
Marsha Morgan · License #930900241
(541) 377-5152
Added: Aug 21
Last Checked: Aug 22 at 7:06PM
MLS# 444489481
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 2,688-square-foot duplex sits on a 0.17-acre lot and was built in 1977. Interior features include vinyl plank flooring, newer appliances that remain with the property, wall-mounted AC units, radiant ceiling heat, and baseboard heating. Each unit includes an upper deck, while the basement provides storage and a utility room with exterior access to the backyard.
The property is zoned R2 in Pendleton, Oregon. Tenants are responsible for their utilities, with the seller covering the water bill. The backyard is shared, and the composition roof serves the building.
The property is zoned R2 in Pendleton, Oregon. Tenants are responsible for their utilities, with the seller covering the water bill. The backyard is shared, and the composition roof serves the building.
Key Highlights
- 2,688‑square‑foot duplex on a 0.17‑acre lot
- R2 zoning in Pendleton, OR
- Built in 1977 with a composition roof
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
854
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with basement storage, shared backyard, and tenant-paid utilities.
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 on a 0.17‑acre lot; R2 zoning in Pendleton, OR; Built in 1977 with a composition roof
