Corner-Lot Duplex with Private
For Sale
$595,000
7515 NE EVERETT ST, Portland, OR 97213
Two mirrored residences offer private outdoor space, parking, and access to nearby shops, parks, and transit.
Property Size1,560 SF
Days on Market10
Property Features for 7515 NE EVERETT ST
General Information
Standard status
Active
Size
1,560 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,620
Building Details
Building Size
1,560 SF
Year Built
1969
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Equity Group
(503) 975-7036
Listed By:
Shea Steel · License #200201233
(503) 975-7036
Source:
Eleeterealestate
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 12:00PM
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 RE/MAX Equity Group
Investment Insights
Based on property information with market context.
Built in 1969, this side-by-side duplex has two mirrored residences, each with 2 bedrooms, 1 bath, a living room, dining area, and functional kitchen. Both units are fully leased and include off-street parking, private decks, and fenced yards. One residence features newer LVP flooring, pull blinds, a water heater, a refinished bathtub, outside storage, raised beds, and an included washer and dryer. The other has an updated kitchen, a slider opening to the deck, and a new wood gate at the fenced yard.
The corner-lot property is located at 7515 NE Everett St in Portland, with nearby cafes, pubs, shops, parks, and public transit. I-84 provides regional roadway access. Additional parking is available in front of the units and on the street. Seller-paid services include garbage and sewer/water.
The corner-lot property is located at 7515 NE Everett St in Portland, with nearby cafes, pubs, shops, parks, and public transit. I-84 provides regional roadway access. Additional parking is available in front of the units and on the street. Seller-paid services include garbage and sewer/water.
Key Highlights
- Two fully leased residences with mirrored 2‑bedroom, 1‑bath layouts
- Corner lot with private decks, fenced yards, and off‑street parking for both units
- 7515 NE Everett St, Portland, OR 97213
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
$21,740
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
3.65%
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%
$434,800
$434.8K
Cap Rate 7%
$310,571
$310.6K
Cap Rate 9%
$241,556
$241.6K
Market Conditions
NOI Build-Up for 1,560 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
$32.8K $21.00/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$31.1K $19.91/SF
− OpEx
−$9.3K −$5.97/SF
NOI
$21.7K $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%
$434,800
Cap Rate 7%
$310,571
Cap Rate 9%
$241,556
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.3K
NOI $21,740 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,030 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$438.1K
$383.3K – $511.1K
NOI $30,666 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
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 mirrored residences offer private outdoor space, parking, and access to nearby shops, parks, and transit.
Where is this duplex located?
The property is located at 7515 NE EVERETT ST Portland, OR.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two fully leased residences with mirrored 2‑bedroom, 1‑bath layouts; Corner lot with private decks, fenced yards, and off‑street parking for both units; 7515 NE Everett St, Portland, OR 97213
