Duplex With Detached
For Sale
$599,000
6626 SE 85th Ave, Portland, OR 97266
A permitted second dwelling supports rental, guest, office, or multigenerational living arrangements.
Property Size1,476 SF
Days on Market20
Property Features for 6626 SE 85th Ave
General Information
Standard status
Active
Size
1,476 SF
Total Parking Spaces
1
Property subtype
Multi Family Home
Zoning
R5
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,300
Amenities
garden
front porch
vaulted ceilings
skylight
tool shed
Building Details
Building Size
1,476 SF
Year Built
1910
Buildings
2
Stories
1
Units
2
Listing Agency:
Portland Proper Real Estate
(503) 890-0609
Listed By:
Andrea Langen
(503) 890-0609
Source:
Metanars
Added: Jul 23
Changed: Aug 10
Last Checked: Aug 10 at 11:30AM
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 Portland Proper Real Estate
Investment Insights
Based on property information with market context.
Located at 6626 SE 85th Ave, this R5-zoned duplex combines a 2-bedroom, 1-bath main residence with a detached 1-bedroom, 1-bath ADU. The primary home dates to 1910 and retains period character alongside updated finishes, including refreshed interiors, fir flooring, newer windows and a front door installed in 2021. Its kitchen was redesigned in 2024 with new cabinetry, updated surfaces, and upgraded appliances. A vaulted sitting room with a skylight, pantry, laundry area, front porch, and additional crawl-space storage complete the main dwelling.
Built in 2016, the fully permitted ADU functions as a separate second home with vaulted ceilings, oversized windows, a dedicated bedroom, full bathroom, and its own washer and dryer. Both residences share a landscaped garden with mature greenery and drought-tolerant plantings. The property also includes a backyard tool shed, two washer and dryer sets, and furnishings in the rear unit.
Built in 2016, the fully permitted ADU functions as a separate second home with vaulted ceilings, oversized windows, a dedicated bedroom, full bathroom, and its own washer and dryer. Both residences share a landscaped garden with mature greenery and drought-tolerant plantings. The property also includes a backyard tool shed, two washer and dryer sets, and furnishings in the rear unit.
Key Highlights
- 2‑bedroom, 1‑bath main home paired with a detached 1‑bedroom, 1‑bath ADU
- Fully permitted ADU built in 2016
- 1910 main residence with updated windows and front door installed in 2021
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
$20,569
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
3.43%
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%
$411,380
$411.4K
Cap Rate 7%
$293,843
$293.8K
Cap Rate 9%
$228,544
$228.5K
Market Conditions
NOI Build-Up for 1,476 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
$31.0K $21.00/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$29.4K $19.91/SF
− OpEx
−$8.8K −$5.97/SF
NOI
$20.6K $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%
$411,380
Cap Rate 7%
$293,843
Cap Rate 9%
$228,544
Alternative Uses
Best Use
Multifamily LT 5
$293.8K
$257.1K – $342.8K
NOI $20,569 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$270.7K
$236.9K – $315.9K
NOI $18,952 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$414.5K
$362.7K – $483.6K
NOI $29,015 @ 7.0% cap · market cap 4.84%
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
814
Businesses Nearby
Explore this area
Business Placement
Demographics for 97266, OR
36,095
Population
13,863
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
5,917
Density / Sq Mi
$71,791
Median Household Income
$39,856
Median Earnings
$1,532
Median Rent
$420,800
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 - A permitted second dwelling supports rental, guest, office, or multigenerational living arrangements.
Where is this duplex located?
The property is located at 6626 SE 85th Ave Portland, OR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath main home paired with a detached 1‑bedroom, 1‑bath ADU; Fully permitted ADU built in 2016; 1910 main residence with updated windows and front door installed in 2021
