Remodeled Victorian Condo with
For Sale
$375,000
6817 NE 7TH AVE, Portland, OR 97211
Charming, remodeled Victorian condo with modern amenities and sweeping views.
Property Size916 SF
Days on Market398
Property Features for 6817 NE 7TH AVE
General Information
Standard status
Active
Size
916 SF
Property subtype
Condominium
Amenities
Ductless
Mini Split
Dishwasher
Free=Standing Gas Range
Free-Standing Refrigerator
Range Hood
Stainless Steel Appliance
Tile
Patio, Composition
Building Details
Building Size
916 SF
Year Built
1890
Stories
1
Listing Agency:
Keller Williams Realty Professionals
(503) 501-6925
Listed By:
Marc Zemp · License #201203833
(503) 501-6925
Source:
Kw
Added: Jul 11, 2025
Changed: Aug 8
Last Checked: Aug 11 at 12:44PM
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 Keller Williams Realty Professionals
Investment Insights
Based on property information with market context.
This condo, located in Dekum Triangle, features 3 bedrooms and 1.5 bathrooms. Remodeled in 2018, this Victorian-style property retains its original charm with period details such as picture rails, high ceilings, and double-paned, double-hung windows, while incorporating modern amenities and upgrades. The condo includes a Roman soaking tub with shower, a gourmet kitchen, hardwood floors with designer finishes, a full-size washer/dryer, and a spacious balcony offering sweeping views. The building, comprising 4 units, provides a shared backyard with fruit trees and garden beds, as well as a shared storage area. The property is located within walking distance of Breakside Brewery, P’s and Q’s, Ranch Pizza, Compana, and Tamale Boy, as well as Woodlawn Park and Woodlawn Farmer’s Market. It is also located minutes away from Downtown Portland.
Key Highlights
- 3 bedrooms and 1.5 bathrooms in a condo.
- Fully remodeled in 2018 with charm and period details.
- Gourmet kitchen and hardwood floors with designer finishes.**
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
$11,761
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
3.14%
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%
$235,220
$235.2K
Cap Rate 7%
$168,014
$168.0K
Cap Rate 9%
$130,678
$130.7K
Market Conditions
NOI Build-Up for 916 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
$22.5K $24.60/SF
− Vacancy
−$1.1K −$1.25/SF
EGI
$21.4K $23.35/SF
− OpEx
−$9.6K −$10.51/SF
NOI
$11.8K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$235,220
Cap Rate 7%
$168,014
Cap Rate 9%
$130,678
Alternative Uses
Best Use
Apartment 5plus
$168.0K
$147.0K – $196.0K
NOI $11,761 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.2K
$225.1K – $300.1K
NOI $18,006 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
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?
Apartment building - Charming, remodeled Victorian condo with modern amenities and sweeping views.
Where is this apartment building located?
The property is located at 6817 NE 7TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3 bedrooms and 1.5 bathrooms in a condo.; Fully remodeled in 2018 with charm and period details.; Gourmet kitchen and hardwood floors with designer finishes.**
