New Construction
For Sale
$1,950,000
816 West E, Vernonia, OR 97064
Fully occupied multifamily property with modern finishes, garages, decks, and air conditioning.
Property Size9,840 SF
Price / SF$198.17
Days on Market194
Property Features for 816 West E
General Information
Standard status
Active
Size
9,840 SF
Property subtype
Multi Family
Zoning
mult
Taxes and HOA fees
Annual Taxes
$20,000
Amenities
1
Crawl Space
Composition
Other
Building Details
Year Built
2024
Listing Agency:
Vitality Home Realty
(503) 260-1003
Listed By:
Parvaneh Kalantari
(503) 260-1003
Source:
Compass
Added: Feb 17
Changed: Aug 29
Last Checked: Aug 29 at 7:08PM
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 Vitality Home Realty
Investment Insights
Based on property information with market context.
Completed in 2024, this 9,840-square-foot multifamily property includes three duplexes across three tax lots. The units feature three bedrooms and two bathrooms, with open layouts, hard-surface countertops, flush-mount sinks, stainless steel appliances, air conditioning, garages, and decks. Dual heat sources provide additional building functionality, while crawl spaces and composition exteriors are also included.
The property is located near downtown Vernonia at 816 West E. Full occupancy is in place across the duplexes. Separate tax lots may support residential financing for each duplex and provide a future option to sell the buildings individually, subject to applicable financing and transaction requirements.
The property is located near downtown Vernonia at 816 West E. Full occupancy is in place across the duplexes. Separate tax lots may support residential financing for each duplex and provide a future option to sell the buildings individually, subject to applicable financing and transaction requirements.
Key Highlights
- Three duplexes across three tax lots
- Built in 2024 with 9,840 square feet
- Each unit offers 3 bedrooms and 2 bathrooms
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
$143,479
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
7.36%
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%
$2,869,580
$2.9M
Cap Rate 7%
$2,049,700
$2.0M
Cap Rate 9%
$1,594,211
$1.6M
Market Conditions
NOI Build-Up for 9,840 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
$218.4K $22.20/SF
− Vacancy
−$13.5K −$1.37/SF
EGI
$205.0K $20.83/SF
− OpEx
−$61.5K −$6.25/SF
NOI
$143.5K $14.58/SF
Area
Columbia County, OR
Vacancy
6.17%
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%
$2,869,580
Cap Rate 7%
$2,049,700
Cap Rate 9%
$1,594,211
Alternative Uses
Best Use
Multifamily LT 5
$2.05M
$1.79M – $2.39M
NOI $143,479 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$1.80M
$1.58M – $2.11M
NOI $126,345 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,924 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 97064, OR
3,802
Population
1,653
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
88%
High-School Grad
97.7 sq mi
ZIP Area
39
Density / Sq Mi
$78,125
Median Household Income
$48,024
Median Earnings
$1,213
Median Rent
$360,100
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 - Fully occupied multifamily property with modern finishes, garages, decks, and air conditioning.
Where is this duplex located?
The property is located at 816 West E Vernonia, OR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Three duplexes across three tax lots; Built in 2024 with 9,840 square feet; Each unit offers 3 bedrooms and 2 bathrooms
