Updated Duplex with Separate
For Sale
$439,000
813 SE Ford St, McMinnville, OR 97128
Two distinct residences include refreshed finishes, independent access, and one currently vacant unit.
Property Size1,381 SF
Price / SF$317.89
Days on Market10
Property Features for 813 SE Ford St
General Information
Standard status
Active
Size
1,381 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Willcuts Company Real Estate
(503) 538-8311
Listed By:
Zach Bernards · License #201225594
Source:
Christiesrealestateevg
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 25 at 4:20AM
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 Willcuts Company Real Estate
Investment Insights
Based on property information with market context.
This 1,381-square-foot duplex contains two separate residences: a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One residence is vacant, while the property also includes a detached storage shed serving one unit and separate driveways for both. Improvements include quartz countertops, renovated bathrooms, and laminate flooring. The roof, exterior paint, and interior paint were completed within the last five years. Built in 1900, the property is configured for residential income use with distinct living spaces and access points.
The duplex is within walking distance of Linfield University and Downtown McMinnville. The address is 813 SE Ford St, McMinnville, OR 97128.
The duplex is within walking distance of Linfield University and Downtown McMinnville. The address is 813 SE Ford St, McMinnville, OR 97128.
Key Highlights
- 1,381 SF duplex with a 2‑bedroom, 1‑bath unit and a 1‑bedroom, 1‑bath unit
- One unit is vacant
- Separate driveways serve both units
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
$17,732
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
4.04%
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%
$354,640
$354.6K
Cap Rate 7%
$253,314
$253.3K
Cap Rate 9%
$197,022
$197.0K
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
$34.0K $24.60/SF
− Vacancy
−$1.7K −$1.25/SF
EGI
$32.2K $23.35/SF
− OpEx
−$14.5K −$10.51/SF
NOI
$17.7K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$354,640
Cap Rate 7%
$253,314
Cap Rate 9%
$197,022
Alternative Uses
Best Use
Apartment 5plus
$253.3K
$221.7K – $295.5K
NOI $17,732 @ 7.0% cap · market cap 4.04%
Second Best
Multifamily LT 5
$217.3K
$190.2K – $253.6K
NOI $15,214 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$372.8K
$326.2K – $434.9K
NOI $26,094 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
Explore this area
Business Placement
Demographics for 97128, OR
38,394
Population
15,291
Households
2.5
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
112.2 sq mi
ZIP Area
342
Density / Sq Mi
$72,055
Median Household Income
$37,427
Median Earnings
$1,295
Median Rent
$419,200
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 distinct residences include refreshed finishes, independent access, and one currently vacant unit.
Where is this duplex located?
The property is located at 813 SE Ford St McMinnville, OR.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 1,381 SF duplex with a 2‑bedroom, 1‑bath unit and a 1‑bedroom, 1‑bath unit; One unit is vacant; Separate driveways serve both units
