Side-by-Side Duplex with Attached
For Sale
$429,900
7245 NE Prescott St, Portland, OR 97218
Two one-bedroom units include laundry, storage, bonus space, and large attached garages.
Property Size1,144 SF
Price / SF$375.79
Days on Market87
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Property Features for 7245 NE Prescott St
General Information
Standard status
Active
Size
1,144 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R7
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry
storage
Building Details
Year Built
1947
Listing Agency:
Neighborhood Works
Listed By:
Jarrett Altman
(503) 239-6577
Source:
Foxrealestategroups
Added: Jul 21
Changed: Oct 12
Last Checked: Oct 5 at 11:33PM
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 Neighborhood Works
Investment Insights
Based on property information with market context.
Built in 1947, this side-by-side duplex contains two one-bedroom, one-bath residences with mirrored layouts. Each unit includes laundry and storage areas, bonus space, and a large attached garage. The property encompasses over a third of an acre and is zoned R7, with additional space identified for expansion into garage or storage areas or for new construction on the site.
One residence is occupied by the owner, while the other has a long-term tenant. The property is located at 7245 NE Prescott St in Portland, Oregon, near the 97218 postal area. Interior access to the tenant-occupied unit is subject to inspection arrangements.
One residence is occupied by the owner, while the other has a long-term tenant. The property is located at 7245 NE Prescott St in Portland, Oregon, near the 97218 postal area. Interior access to the tenant-occupied unit is subject to inspection arrangements.
Key Highlights
- Side‑by‑side duplex with two 1‑bedroom, 1‑bath units
- Over a third of an acre
- Each unit includes laundry and storage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,942
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,840
$318.8K
Cap Rate 7%
$227,743
$227.7K
Cap Rate 9%
$177,133
$177.1K
Market Conditions
NOI Build-Up for 1,144 SF
Gross rent
$24.0K $21.00/SF
− Vacancy
−$1.2K −$1.09/SF
EGI
$22.8K $19.91/SF
− OpEx
−$6.8K −$5.97/SF
NOI
$15.9K $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 Rate 5%
$318,840
Cap Rate 7%
$227,743
Cap Rate 9%
$177,133
Alternative Uses
Best Use
Multifamily LT 5
$227.7K
$199.3K – $265.7K
NOI $15,942 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.8K
NOI $14,689 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$321.3K
$281.1K – $374.8K
NOI $22,488 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
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Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units include laundry, storage, bonus space, and large attached garages.
Where is this duplex located?
The property is located at 7245 NE Prescott St Portland, OR.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Side‑by‑side duplex with two 1‑bedroom, 1‑bath units; Over a third of an acre; Each unit includes laundry and storage areas
