Newly Built Two-Unit
For Sale
$899,900
6166 NE Stanton St, Portland, OR 97213
MultiFamily, Portland, OR
Property Size2,316 SF
Price / SF$388.56
Days on Market93
Property Features for 6166 NE Stanton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R2.5
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3
Subdivision
Rose City Park
Elementary school
Rose City Park
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
NE 62nd and Stanton
Standard status
Active
APN
New Construction
Size
2,316 SF
Utilities
Cooling system
Heat Pump
Amenities
private outdoor spaces
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: May 20
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 768726497
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.
A newly constructed two-unit duplex featuring two detached cottages completed and currently vacant. The property is under construction with a projected year built of 2026 and totals 2,316 square feet. Each cottage is delivered as a cohesive rental home with an efficient layout that provides clear separation between main living areas and upstairs sleeping spaces. Both residences offer three bedrooms and 2.5 bathrooms, and the consistent unit mix is designed to simplify leasing and ongoing property management. Interior details include architectural built-ins and illuminated crown molding, with crown molding and integrated lighting in each bedroom.
Heating and cooling are supported by a heat pump system, complemented by a composition roof. The property is zoned R2.5.
Located at 6166 NE Stanton St in Portland’s 97213 area, the setting provides convenient access to Rose City Park, Normandale Park, Rose City Golf Course, the Hollywood District, Beaumont Village, NE Sandy dining and coffee, grocery options, transit, and I-84 connections. The duplex is presented with a projected 5.77% cap rate at stabilization.
Heating and cooling are supported by a heat pump system, complemented by a composition roof. The property is zoned R2.5.
Located at 6166 NE Stanton St in Portland’s 97213 area, the setting provides convenient access to Rose City Park, Normandale Park, Rose City Golf Course, the Hollywood District, Beaumont Village, NE Sandy dining and coffee, grocery options, transit, and I-84 connections. The duplex is presented with a projected 5.77% cap rate at stabilization.
Key Highlights
- Two detached cottages, completed and currently vacant, forming a two‑unit rental duplex
- Total area 2,316 SF and zoned R2.5
- Each cottage offers three bedrooms and 2.5 bathrooms with a consistent unit layout
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
$32,275
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
3.59%
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%
$645,500
$645.5K
Cap Rate 7%
$461,071
$461.1K
Cap Rate 9%
$358,611
$358.6K
Market Conditions
NOI Build-Up for 2,316 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
$48.6K $21.00/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$46.1K $19.91/SF
− OpEx
−$13.8K −$5.97/SF
NOI
$32.3K $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%
$645,500
Cap Rate 7%
$461,071
Cap Rate 9%
$358,611
Alternative Uses
Best Use
Multifamily LT 5
$461.1K
$403.4K – $537.9K
NOI $32,275 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$424.8K
$371.7K – $495.6K
NOI $29,737 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$650.4K
$569.1K – $758.8K
NOI $45,527 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
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 detached, completed vacant cottages with matching layouts, each with three bedrooms and 2.5 baths plus heat pump HVAC.
Where is this duplex located?
The property is located at 6166 NE Stanton St Portland, OR.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Two detached cottages, completed and currently vacant, forming a two‑unit rental duplex; Total area 2,316 SF and zoned R2.5; Each cottage offers three bedrooms and 2.5 bathrooms with a consistent unit layout
