Updated Single-Level
New
For Sale
$439,900
7614 SE 65TH AVE, Portland, OR 97206
Two residences offer distinct bedroom layouts, an attached garage, and extensive system upgrades completed during a major remodel.
Property Size1,381 SF
Days on Market6
Property Features for 7614 SE 65TH AVE
General Information
Standard status
Active
Size
1,381 SF
Property subtype
MULTI_FAMILY
Financials
Cap Rate
6.2%
Gross Income
$45,000
Gross Rent Multiplier
9.8
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,677
Building Details
Building Size
1,381 SF
Year Built
1942
Year Renovated
2019
Buildings
1
Listing Agency:
Opt
Listed By:
Brian Spear · License #200312221
(503) 515-9374
Source:
Eleeterealestate
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 21 at 7:33AM
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 Opt
Investment Insights
Based on property information with market context.
This 1,381-square-foot duplex contains two single-level residences: one with 3 bedrooms and 2 bathrooms, and another with 2 bedrooms and 1 bathroom. The property includes an attached garage, while Unit 7614 incorporates a converted garage area into its bedroom and bathroom layout.
A substantial renovation completed in 2018 and 2019 introduced new electric meters, panels, and circuits, along with PEX plumbing, replacement sewer lines, new gas furnaces, water heaters, and updated interior finishes. Built in 1942, the property is located at 7614 SE 65TH Ave in Portland, Oregon.
A substantial renovation completed in 2018 and 2019 introduced new electric meters, panels, and circuits, along with PEX plumbing, replacement sewer lines, new gas furnaces, water heaters, and updated interior finishes. Built in 1942, the property is located at 7614 SE 65TH Ave in Portland, Oregon.
Key Highlights
- 1,381‑square‑foot duplex with two single‑level residences
- Unit mix includes 3 bedrooms/2 bathrooms and 2 bedrooms/1 bathroom
- Attached garage included with the 2‑bedroom/1‑bath unit
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
$20,280
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
4.61%
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%
$405,600
$405.6K
Cap Rate 7%
$289,714
$289.7K
Cap Rate 9%
$225,333
$225.3K
Market Conditions
NOI Build-Up for 1,381 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
$30.7K $22.20/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$29.0K $20.98/SF
− OpEx
−$8.7K −$6.29/SF
NOI
$20.3K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$405,600
Cap Rate 7%
$289,714
Cap Rate 9%
$225,333
Alternative Uses
Best Use
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,280 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,184 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$387.8K
$339.3K – $452.5K
NOI $27,147 @ 7.0% cap · market cap 6.17%
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
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
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 residences offer distinct bedroom layouts, an attached garage, and extensive system upgrades completed during a major remodel.
Where is this duplex located?
The property is located at 7614 SE 65TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 1,381‑square‑foot duplex with two single‑level residences; Unit mix includes 3 bedrooms/2 bathrooms and 2 bedrooms/1 bathroom; Attached garage included with the 2‑bedroom/1‑bath unit
