New Construction
For Sale
$795,000
720-740 South 8th Avenue, Cornelius, OR 97113
Two contemporary residences combine open living areas, attached garages, and low-maintenance outdoor space.
Property Size3,090 SF
Price / SF$257.28
Days on Market155
Property Features for 720-740 South 8th Avenue
General Information
Standard status
Active
Size
3,090 SF
Total Parking Spaces
1
Property subtype
Multi Family
Zoning
R-7
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$685
Amenities
yard
2
Crawl Space
Concrete Perimeter
Composition, Shingle
Lap Siding
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Coldwell Banker Professional
(971) 895-0648
Listed By:
Vanessa Zamora · License #201246596
(971) 895-0648
Source:
Compass
Added: Mar 30
Changed: Aug 31
Last Checked: Aug 31 at 1:49AM
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 Coldwell Banker Professional
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 3,090 square feet across two separate residences. Each home offers three bedrooms and two-and-a-half bathrooms, with bedrooms arranged on the upper level and a private primary bathroom. The main floor uses an open layout connecting the living area and kitchen, while new appliances and contemporary finishes support the move-in-ready presentation.
Both residences include an attached garage for parking and storage, plus a small yard for outdoor use. Construction details include lap siding, composition shingle roofing, crawl spaces, and concrete perimeter foundations. The property is located at 720-740 South 8th Avenue in Cornelius and is zoned R-7.
Both residences include an attached garage for parking and storage, plus a small yard for outdoor use. Construction details include lap siding, composition shingle roofing, crawl spaces, and concrete perimeter foundations. The property is located at 720-740 South 8th Avenue in Cornelius and is zoned R-7.
Key Highlights
- Two‑unit duplex totaling 3,090 square feet
- Each residence includes 3 bedrooms and 2.5 bathrooms
- Completed in 2026 with new appliances and contemporary 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
$39,676
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
4.99%
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%
$793,520
$793.5K
Cap Rate 7%
$566,800
$566.8K
Cap Rate 9%
$440,844
$440.8K
Market Conditions
NOI Build-Up for 3,090 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
$76.0K $24.60/SF
− Vacancy
−$3.9K −$1.25/SF
EGI
$72.1K $23.35/SF
− OpEx
−$32.5K −$10.51/SF
NOI
$39.7K $12.84/SF
Area
Washington County, 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%
$793,520
Cap Rate 7%
$566,800
Cap Rate 9%
$440,844
Alternative Uses
Best Use
Apartment 5plus
$566.8K
$496.0K – $661.3K
NOI $39,676 @ 7.0% cap · market cap 4.99%
Second Best
Multifamily LT 5
$542.0K
$474.3K – $632.3K
NOI $37,940 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$834.1K
$729.8K – $973.1K
NOI $58,385 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 97113, OR
15,075
Population
5,500
Households
2.7
Avg Household Size
35
Median Age
18%
College-Educated
80%
High-School Grad
34.9 sq mi
ZIP Area
432
Density / Sq Mi
$93,131
Median Household Income
$41,247
Median Earnings
$1,457
Median Rent
$434,100
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 - Two contemporary residences combine open living areas, attached garages, and low-maintenance outdoor space.
Where is this duplex located?
The property is located at 720-740 South 8th Avenue Cornelius, OR.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,090 square feet; Each residence includes 3 bedrooms and 2.5 bathrooms; Completed in 2026 with new appliances and contemporary finishes
