As-Is Duplex
For Sale
$439,900
620 NE 69TH AVE, Hillsboro, OR 97124
The property includes a vacant unit requiring extensive interior and exterior repairs.
Property Size1,725 SF
Days on Market51
Property Features for 620 NE 69TH AVE
General Information
Standard status
Active
Size
1,725 SF
Property subtype
MULTI_FAMILY
Property Condition
Severity
Major
Evidence
serious need of replacement of all surfaces, windows, appliances, etc.
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,281
Building Details
Building Size
1,725 SF
Year Built
1963
Listing Agency:
John L. Scott Portland Central
(503) 705-0755
Listed By:
Eva Sanders
(503) 705-0755
Source:
Eleeterealestate
Added: Jun 24
Changed: Aug 12
Last Checked: Aug 11 at 6:27AM
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 John L. Scott Portland Central
Investment Insights
Based on property information with market context.
This duplex dates to 1963 and is offered in as-is condition. The vacant unit requires replacement of interior surfaces, windows, and appliances, while the exterior needs repairs and new paint. The property is scheduled for connection to public sewer before closing. Historical rental performance is noted, but no current income figures are included in this summary.
Key Highlights
- Duplex property constructed in 1963
- Vacant unit requires replacement of surfaces, windows, and appliances
- Exterior repairs and paint work are needed
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
$25,907
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
5.89%
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%
$518,140
$518.1K
Cap Rate 7%
$370,100
$370.1K
Cap Rate 9%
$287,856
$287.9K
Market Conditions
NOI Build-Up for 1,725 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
$39.1K $22.68/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$37.0K $21.46/SF
− OpEx
−$11.1K −$6.44/SF
NOI
$25.9K $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%
$518,140
Cap Rate 7%
$370,100
Cap Rate 9%
$287,856
Alternative Uses
Best Use
Multifamily LT 5
$370.1K
$323.8K – $431.8K
NOI $25,907 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$326.1K
$285.4K – $380.5K
NOI $22,829 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$463.2K
$405.3K – $540.4K
NOI $32,426 @ 7.0% cap · market cap 7.37%
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
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 97124, OR
53,487
Population
22,176
Households
2.4
Avg Household Size
35
Median Age
47%
College-Educated
93%
High-School Grad
45.1 sq mi
ZIP Area
1,186
Density / Sq Mi
$107,063
Median Household Income
$54,463
Median Earnings
$1,918
Median Rent
$518,500
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 - The property includes a vacant unit requiring extensive interior and exterior repairs.
Where is this duplex located?
The property is located at 620 NE 69TH AVE Hillsboro, OR.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Duplex property constructed in 1963; Vacant unit requires replacement of surfaces, windows, and appliances; Exterior repairs and paint work are needed
