Two-Cottage
New
For Sale
$300,000
821 S Columbia St, Seaside, OR 97138
Two separate cottages offer varied layouts, with beach access two blocks away and downtown Seaside three blocks away.
Property Size1,200 SF
Price / SF$250
Days on Market4
Property Features for 821 S Columbia St
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1928
Buildings
2
Listing Agency:
SALTAIRE Coastal Homes
Listed By:
Christy Coulombe
(503) 724-2400
Source:
Teamgillott
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 6:23AM
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 SALTAIRE Coastal Homes
Investment Insights
Based on property information with market context.
This duplex consists of two separate cottages with distinct layouts. The front cottage is two stories, with bedrooms located upstairs, while the rear cottage provides single-level living. Both cottages are currently unoccupied and are being offered as-is through an estate, with no seller representations concerning the condition of the buildings or their systems. Buyer due diligence is encouraged.
Located at 821 S Columbia St in Seaside, the property is two blocks from the beach and three blocks from downtown Seaside. Built in 1928, the duplex offers an established coastal setting with two separate structures and differing residential configurations.
Located at 821 S Columbia St in Seaside, the property is two blocks from the beach and three blocks from downtown Seaside. Built in 1928, the duplex offers an established coastal setting with two separate structures and differing residential configurations.
Key Highlights
- Two separate cottages comprise the duplex
- Front cottage is two stories with upstairs bedrooms
- Rear cottage offers single‑level living
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
$8,619
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
2.87%
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%
$172,380
$172.4K
Cap Rate 7%
$123,129
$123.1K
Cap Rate 9%
$95,767
$95.8K
Market Conditions
NOI Build-Up for 1,200 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
$16.6K $13.80/SF
− Vacancy
−$4.2K −$3.54/SF
EGI
$12.3K $10.26/SF
− OpEx
−$3.7K −$3.08/SF
NOI
$8.6K $7.18/SF
Area
Clatsop County, OR
Vacancy
25.65%
Lease Rate
$13.80 /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%
$172,380
Cap Rate 7%
$123,129
Cap Rate 9%
$95,767
Alternative Uses
Best Use
Multifamily LT 5
$123.1K
$107.7K – $143.7K
NOI $8,619 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$111.5K
$97.6K – $130.1K
NOI $7,805 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$348.9K
$305.3K – $407.0K
NOI $24,422 @ 7.0% cap · market cap 8.14%
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
794
Businesses Nearby
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
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 - Two separate cottages offer varied layouts, with beach access two blocks away and downtown Seaside three blocks away.
Where is this duplex located?
The property is located at 821 S Columbia St Seaside, OR.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two separate cottages comprise the duplex; Front cottage is two stories with upstairs bedrooms; Rear cottage offers single‑level living
