Duplex Property Requiring
For Sale
$439,900
620 NE 69TH Ave, Hillsboro, OR 97124
MULTI_FAMILY - Hillsboro, OR
Property Size1,725 SF
Lot Size0.18 Acres
Price / SF$255.01
Days on Market47
Property Features for 620 NE 69TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Duplex
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2
Subdivision
Quatama
Elementary school
Orenco
Middle school
Poynter
High school
Liberty
Directions
Quatama/69th to Fir
Standard status
Active
APN
R727084
Size
1,725 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
ACRES 0.18
Tax Annual Amount
3282
Legal Description
ACRES 0.18
Utilities
Heating system
Baseboard
Building Details
Year built
1963
Floors in Building
1
Number of units
2
Roof type
Metal
Listing Agency:
John L. Scott Portland Central
(503) 230-8600
Listed By:
Eva Sanders
(503) 705-0755
Added: Jun 24
Changed: Aug 7
Last Checked: Aug 9 at 10:06PM
MLS# 380379219
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 1,725-square-foot duplex was built in 1963 and is offered in its current as-is condition. One unit is vacant and requires extensive interior work, including replacement of surfaces, windows, and appliances. The exterior also needs repairs and repainting. The property has baseboard heating, a metal roof, and is zoned Duplex.
The 0.18-acre property is located at 620 NE 69TH Ave in Hillsboro, Oregon. Connection to public sewer is planned before closing. The two-unit configuration provides a residential income property framework, with prior rental performance noted in the property information.
The 0.18-acre property is located at 620 NE 69TH Ave in Hillsboro, Oregon. Connection to public sewer is planned before closing. The two-unit configuration provides a residential income property framework, with prior rental performance noted in the property information.
Key Highlights
- 1,725‑square‑foot duplex on a 0.18‑acre lot
- One vacant unit requires replacement of surfaces, windows, and appliances
- Exterior repairs and repainting 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - As-is duplex with one vacant unit and substantial interior and exterior repair needs.
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: 1,725‑square‑foot duplex on a 0.18‑acre lot; One vacant unit requires replacement of surfaces, windows, and appliances; Exterior repairs and repainting are needed
