Spacious 4BR Duplex For
For Sale
$649,999
770 NE 91ST AVE, Portland, OR 97220
Duplex with four-bedroom layout and ample space, currently with long-term renters paying below-market rent.
Property Size3,200 SF
Price / SF$203.12
Days on Market184
Property Features for 770 NE 91ST AVE
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi-Family
Zoning
R2
Occupancy
50%
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,568
Amenities
Electricity,Gas
UnitTypeType1,UnitTypeType2
Gas
2
Deck,Fireplace,Refrigerator,WasherDryer
Deck,Dishwasher,Fireplace,WasherDryerHookup
1
1500
1400
PublicWater
0.12
3200.0
WoodSiding
Building Details
Building Size
3,200 SF
Year Built
1965
Stories
2
Tenancy
Multi
Listing Agency:
Windermere RE K-2 Realty
(503) 789-2906
Listed By:
Dane Dykeman
(503) 789-2906
Source:
Premierepropertygroup
Added: Feb 17
Changed: Aug 19
Last Checked: Aug 20 at 4:22AM
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 Windermere RE K-2 Realty
Investment Insights
Based on property information with market context.
This for-sale duplex is configured as a spacious 4BR property with more than 3,200 square feet of total space. The current setup includes long-term renters in place, with tenants paying below-market rent. The layout supports straightforward owner-occupant living while retaining the option to rent out a second unit.
The property is located at 770 NE 91ST AVE in Portland, Oregon (97220). Prospective buyers should plan to coordinate with the listing for property access, as the current occupants are set to “Do Not Disturb”.
For investors and owner-occupants, the appeal is the combination of established occupancy and the flexibility to live in one side while generating rental income from the other unit. Buyers seeking a duplex they can potentially manage with an owner’s presence may find the current long-term tenancy structure particularly relevant. Please note that any changes in occupancy, rent levels, or unit configuration would need to be confirmed directly with the seller, along with all applicable terms and conditions for the occupied property.
The property is located at 770 NE 91ST AVE in Portland, Oregon (97220). Prospective buyers should plan to coordinate with the listing for property access, as the current occupants are set to “Do Not Disturb”.
For investors and owner-occupants, the appeal is the combination of established occupancy and the flexibility to live in one side while generating rental income from the other unit. Buyers seeking a duplex they can potentially manage with an owner’s presence may find the current long-term tenancy structure particularly relevant. Please note that any changes in occupancy, rent levels, or unit configuration would need to be confirmed directly with the seller, along with all applicable terms and conditions for the occupied property.
Key Highlights
- Spacious 4BR duplex with 2 beds in each unit and 1 bath per unit
- Over 3,200 sq ft total building area on a 0.12‑acre lot
- Unit 1 (1 unit): 2BR/1BA with deck, fireplace, refrigerator, and washer/dryer; rents for $1,500
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
$44,594
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
6.86%
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%
$891,880
$891.9K
Cap Rate 7%
$637,057
$637.1K
Cap Rate 9%
$495,489
$495.5K
Market Conditions
NOI Build-Up for 3,200 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
$67.2K $21.00/SF
− Vacancy
−$3.5K −$1.09/SF
EGI
$63.7K $19.91/SF
− OpEx
−$19.1K −$5.97/SF
NOI
$44.6K $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%
$891,880
Cap Rate 7%
$637,057
Cap Rate 9%
$495,489
Alternative Uses
Best Use
Multifamily LT 5
$637.1K
$557.4K – $743.2K
NOI $44,594 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$587.0K
$513.6K – $684.8K
NOI $41,088 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$898.6K
$786.3K – $1.05M
NOI $62,905 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
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 - Duplex with four-bedroom layout and ample space, currently with long-term renters paying below-market rent.
Where is this duplex located?
The property is located at 770 NE 91ST AVE Portland, OR.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Spacious 4BR duplex with 2 beds in each unit and 1 bath per unit; Over 3,200 sq ft total building area on a 0.12‑acre lot; Unit 1 (1 unit): 2BR/1BA with deck, fireplace, refrigerator, and washer/dryer; rents for $1,500
