Updated Duplex with Detached Storage
For Sale
$439,000
813 SE FORD St, McMinnville, OR 97128
MULTI_FAMILY - McMinnville, OR
Property Size1,381 SF
Lot Size0.13 Acres
Price / SF$317.89
Days on Market533
Property Features for 813 SE FORD St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Elementary school
Buel
Middle school
Patton
High school
McMinnville
Directions
Located on Ford Street
Subdivision
_156
Standard status
Active
APN
163744
Size
1,381 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
SEE METES & BOUNDS
Tax Annual Amount
2350
Legal Description
SEE METES & BOUNDS
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Willcuts Company Real Estate
(503) 538-8311
Listed By:
Zach Bernards · License #201225594
(971) 267-6833
Added: Feb 25, 2025
Changed: Aug 1
Last Checked: Aug 12 at 2:06AM
MLS# 343143335
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Updated duplex on a 0.13-acre lot with two separate driveways and a detached storage shed on the property. The home includes a two-bedroom, one-bath unit and a one-bedroom, one-bath unit, with one unit currently vacant and ready for house-hackers. Heating is provided by forced air.
Recent improvements include new quartz countertops, updated bathrooms, and laminate flooring in the units. The roof, exterior, and interior painting were redone within the last five years, and the roof is composition. Built in 1900, this duplex offers a compact, straightforward layout with separate units and dedicated driveway access.
The seller requires a 24-hour notice prior to any showings.
Recent improvements include new quartz countertops, updated bathrooms, and laminate flooring in the units. The roof, exterior, and interior painting were redone within the last five years, and the roof is composition. Built in 1900, this duplex offers a compact, straightforward layout with separate units and dedicated driveway access.
The seller requires a 24-hour notice prior to any showings.
Key Highlights
- 0.13‑acre lot with a 1,381 SF duplex building
- One unit is vacant and ready for house‑hackers
- Two‑bedroom, one‑bath unit plus one‑bedroom, one‑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
$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
1,508
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 - Updated duplex in R4 zoning with two separate driveways and a detached storage shed on site.
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: 0.13‑acre lot with a 1,381 SF duplex building; One unit is vacant and ready for house‑hackers; Two‑bedroom, one‑bath unit plus one‑bedroom, one‑bath unit
