Updated Two-Unit
For Sale
$450,000
7661 N Vancouver AVE, Portland, OR 97217
Both residences feature refreshed kitchens, bathrooms, flooring, windows, and laundry hookups.
Property Size1,680 SF
Days on Market89
Property Features for 7661 N Vancouver AVE
General Information
Standard status
Active
Size
1,680 SF
Total Parking Spaces
4
Property subtype
MULTI_FAMILY
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,843
Amenities
in-unit laundry hookups
Building Details
Building Size
1,680 SF
Year Built
1971
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Northwest Realty Source
(503) 997-4169
Listed By:
Troy D Doty P.C. · License #200104205
(503) 997-4169
Source:
Eleeterealestate
Added: May 28
Changed: Aug 10
Last Checked: Aug 24 at 1:23PM
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 Northwest Realty Source
Investment Insights
Based on property information with market context.
Built in 1971, this single-level duplex contains two residences, each with two bedrooms and one bathroom. Improvements include vinyl windows, luxury vinyl plank flooring, renovated kitchens and bathrooms, and fresh exterior paint. Each unit also has laundry hookups and dedicated off-street parking.
Both residences are occupied under month-to-month tenancies and the property is currently self-managed. The site is in North Portland’s North Piedmont neighborhood, with parks, shopping, public transportation, and freeway access identified nearby. Parking accommodates up to four vehicles.
Both residences are occupied under month-to-month tenancies and the property is currently self-managed. The site is in North Portland’s North Piedmont neighborhood, with parks, shopping, public transportation, and freeway access identified nearby. Parking accommodates up to four vehicles.
Key Highlights
- Two‑unit, single‑level duplex with two bedrooms and one bathroom per residence
- Vinyl windows and luxury vinyl flooring installed in both units
- Remodeled kitchens and bathrooms across both residences
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
$23,412
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
5.20%
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%
$468,240
$468.2K
Cap Rate 7%
$334,457
$334.5K
Cap Rate 9%
$260,133
$260.1K
Market Conditions
NOI Build-Up for 1,680 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
$35.3K $21.00/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$33.4K $19.91/SF
− OpEx
−$10.0K −$5.97/SF
NOI
$23.4K $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%
$468,240
Cap Rate 7%
$334,457
Cap Rate 9%
$260,133
Alternative Uses
Best Use
Multifamily LT 5
$334.5K
$292.7K – $390.2K
NOI $23,412 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$308.2K
$269.6K – $359.5K
NOI $21,571 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$471.8K
$412.8K – $550.4K
NOI $33,025 @ 7.0% cap · market cap 7.34%
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
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature refreshed kitchens, bathrooms, flooring, windows, and laundry hookups.
Where is this duplex located?
The property is located at 7661 N Vancouver AVE Portland, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit, single‑level duplex with two bedrooms and one bathroom per residence; Vinyl windows and luxury vinyl flooring installed in both units; Remodeled kitchens and bathrooms across both residences
