Vacant Updated
New
For Sale
$749,000
6121 SE FRANCES St, Hillsboro, OR 97123
MultiFamily, Hillsboro, OR
Property Size2,556 SF
Lot Size0.14 Acres
Price / SF$293.04
Days on Market3
Property Features for 6121 SE FRANCES St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SFR-6
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 1
Subdivision
Frances Estates
Elementary school
Imlay
Middle school
Brown
High school
Century
Directions
Tualatin Valley Hwy, S on 62nd Ave, R on Frances St
Standard status
Active
APN
R2060971
Size
2,556 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
FRANCES ESTATES, LOT 27, ACRES 0.14
Tax Annual Amount
6506
Legal Description
FRANCES ESTATES, LOT 27, ACRES 0.14
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
decks
grassy backyards
laundry hookups
Building Details
Year built
1997
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Patricia Kirk
(971) 202-9221
Added: Aug 27
Changed: Aug 29
Last Checked: Aug 29 at 10:06AM
MLS# 762387194
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 2,556-square-foot duplex contains two vacant units, each with 3 bedrooms, 2.5 bathrooms, a backyard, private driveway, attached single-car garage, and laundry hookups. Kitchens feature ample cabinetry and pass-throughs to the living areas. Upstairs, each primary suite includes a private bathroom and walk-in closet. Separate utilities support independent unit operation.
Recent property improvements include a new roof and exterior paint completed in 2020, along with attic and crawlspace work in 2021. Unit 6123 has new carpet, a hood vent, and a stove, while Unit 6121 includes newer air conditioning, flooring, and appliances. The duplex sits on 0.14 acres in Hillsboro and provides access to Tualatin Valley Highway, Cornelius Pass Road, and US 26. Nearby destinations include Imlay Elementary, Brown Middle School, Century High School, Frances Street Park, and local food and beverage establishments.
Recent property improvements include a new roof and exterior paint completed in 2020, along with attic and crawlspace work in 2021. Unit 6123 has new carpet, a hood vent, and a stove, while Unit 6121 includes newer air conditioning, flooring, and appliances. The duplex sits on 0.14 acres in Hillsboro and provides access to Tualatin Valley Highway, Cornelius Pass Road, and US 26. Nearby destinations include Imlay Elementary, Brown Middle School, Century High School, Frances Street Park, and local food and beverage establishments.
Key Highlights
- 2,556 SF duplex on a 0.14‑acre lot
- Both units are vacant and include 3 bedrooms and 2.5 bathrooms
- Each unit has a private backyard, driveway, and attached single‑car garage
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
$38,388
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
5.13%
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%
$767,760
$767.8K
Cap Rate 7%
$548,400
$548.4K
Cap Rate 9%
$426,533
$426.5K
Market Conditions
NOI Build-Up for 2,556 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
$58.0K $22.68/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$54.8K $21.46/SF
− OpEx
−$16.5K −$6.44/SF
NOI
$38.4K $15.02/SF
Area
Hillsboro, OR
Vacancy
5.40%
Lease Rate
$22.68 /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%
$767,760
Cap Rate 7%
$548,400
Cap Rate 9%
$426,533
Alternative Uses
Best Use
Multifamily LT 5
$548.4K
$479.9K – $639.8K
NOI $38,388 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$483.2K
$422.8K – $563.8K
NOI $33,827 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$686.4K
$600.6K – $800.8K
NOI $48,047 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 97123, OR
48,369
Population
17,685
Households
2.7
Avg Household Size
37
Median Age
36%
College-Educated
87%
High-School Grad
55.7 sq mi
ZIP Area
868
Density / Sq Mi
$105,999
Median Household Income
$50,578
Median Earnings
$1,814
Median Rent
$489,100
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 separate units offer private yards, attached garages, separate utilities, and laundry hookups.
Where is this duplex located?
The property is located at 6121 SE FRANCES St Hillsboro, OR.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,556 SF duplex on a 0.14‑acre lot; Both units are vacant and include 3 bedrooms and 2.5 bathrooms; Each unit has a private backyard, driveway, and attached single‑car garage
