Residential Income Property with Covered
For Sale
$520,000
6844 SE BORWICK St, Hillsboro, OR 97123
MULTI_FAMILY - Hillsboro, OR
Property Size1,620 SF
Price / SF$320.99
Days on Market47
Property Features for 6844 SE BORWICK St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Sfr-6
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Elementary school
Imlay
Middle school
Brown
High school
Century
Directions
Cornilus Pass to Baseline, West to Borwick Road, left and West to home
Subdivision
_152
Standard status
Active
APN
R2041295
Size
1,620 SF
Taxes and HOA fees
Tax Description
BORWICK MEADOWS, LOT 55, ACRES 0.12
Tax Annual Amount
4157
Legal Description
BORWICK MEADOWS, LOT 55, ACRES 0.12
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1996
Floors in Building
1
Number of units
1
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Thomas Taylor · License #201216648
(503) 575-8620
Added: Jun 27
Changed: Aug 11
Last Checked: Aug 12 at 2:06AM
MLS# 483326981
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 rented residential income property includes a large primary bedroom plus two additional bedrooms of nice size, a dedicated laundry room, and a kitchen with a gas stove. The living room features a bay window, and the family room has a gas fireplace. Outside, the home offers a covered deck and a yard with a tall hedge, along with a storage shed. Access is convenient with only two steps to the front door.
The home is located in Hillsboro, Oregon, and the surrounding area provides walkable access to Noble Woods Park as well as nearby stores, restaurants, and groceries. The remarks also note that Orenco and Tanasbourne are a few minutes away, along with Highway 26.
For buyers, this property presents an occupied rental setup, with the home rented through 3/31/27 per the listing remarks. The current tenancy can be appealing for investors seeking an in-place occupant, and the listing also cites potential rent of $2,750. For tenants, the layout provides multiple bedrooms, in-home laundry, and main living features like a gas fireplace, complemented by outdoor space under the covered deck.
The home is located in Hillsboro, Oregon, and the surrounding area provides walkable access to Noble Woods Park as well as nearby stores, restaurants, and groceries. The remarks also note that Orenco and Tanasbourne are a few minutes away, along with Highway 26.
For buyers, this property presents an occupied rental setup, with the home rented through 3/31/27 per the listing remarks. The current tenancy can be appealing for investors seeking an in-place occupant, and the listing also cites potential rent of $2,750. For tenants, the layout provides multiple bedrooms, in-home laundry, and main living features like a gas fireplace, complemented by outdoor space under the covered deck.
Key Highlights
- Rented through 3/31/27; potential rent $2,750 (listed cap rate 4.6 and GRM 15).
- Year built 1996 with forced‑air heating and central air conditioning.
- 3 bedrooms and 2 bathrooms, plus a dedicated laundry room.
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
$21,439
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
4.12%
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%
$428,780
$428.8K
Cap Rate 7%
$306,271
$306.3K
Cap Rate 9%
$238,211
$238.2K
Market Conditions
NOI Build-Up for 1,620 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
$41.6K $25.68/SF
− Vacancy
−$2.6K −$1.62/SF
EGI
$39.0K $24.06/SF
− OpEx
−$17.5K −$10.83/SF
NOI
$21.4K $13.23/SF
Area
Hillsboro, OR
Vacancy
6.30%
Lease Rate
$25.68 /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%
$428,780
Cap Rate 7%
$306,271
Cap Rate 9%
$238,211
Alternative Uses
Best Use
Apartment 5plus
$306.3K
$268.0K – $357.3K
NOI $21,439 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.0K
$380.7K – $507.5K
NOI $30,452 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 97123, OR
48,369
Population
17,685
Households
2.7
Avg Household Size
37
Median Age
36%
College-Educated
87%
High-School Grad
55.7 sq mi
ZIP Area
868
Density / Sq Mi
$105,999
Median Household Income
$50,578
Median Earnings
$1,814
Median Rent
$489,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Single-family rental home with gas fireplace, laundry room, and a covered deck backing a private hedge.
Where is this single family property located?
The property is located at 6844 SE BORWICK St Hillsboro, OR.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Rented through 3/31/27; potential rent $2,750 (listed cap rate 4.6 and GRM 15).; Year built 1996 with forced‑air heating and central air conditioning.; 3 bedrooms and 2 bathrooms, plus a dedicated laundry room.
