Detached Duplex with Remodeled Main
For Sale
$399,000
8625 Southeast Knapp Street, Portland, OR 97266
Two dwellings share one lot with updated kitchens, stackable laundry, and covered parking.
Property Size1,642 SF
Price / SF$242
Days on Market139
Property Features for 8625 Southeast Knapp Street
General Information
Standard status
Active
Size
1,642 SF
Total Parking Spaces
1
Property subtype
Multi Family
Zoning
R5
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,765
Amenities
stackable laundry
1
Crawl Space
Concrete Perimeter
Composition
Lap Siding, Stone
Building Details
Year Built
1953
Buildings
2
Listing Agency:
Move Real Estate Inc
(503) 757-9692
Listed By:
Kyle Conway · License #201232240
(503) 757-9692
Source:
Compass
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 30 at 10:57PM
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 Move Real Estate Inc
Investment Insights
Based on property information with market context.
This duplex property comprises two detached dwellings on a single lot. The primary residence contains 2 bedrooms, 1 bathroom, and 1,042 square feet of remodeled space, with an open layout, quartz kitchen counters, stainless steel appliances, LVP flooring, an updated bathroom with a walk-in shower and floating vanity, a gas furnace with Nest thermostat, a tankless water heater, and updated plumbing. The second home provides 2 bedrooms, 1 bathroom, and 600 square feet, along with a quartz-counter kitchen, stainless steel appliances, stackable laundry, and a practical interior arrangement.
A 20’ x 12’ covered parking patio serves the property. The homes are located at 8625 Southeast Knapp Street and 7227 Southeast 87th Avenue in Portland, Oregon. The property is zoned R5 and was built in 1953.
A 20’ x 12’ covered parking patio serves the property. The homes are located at 8625 Southeast Knapp Street and 7227 Southeast 87th Avenue in Portland, Oregon. The property is zoned R5 and was built in 1953.
Key Highlights
- Two detached dwellings on one lot
- Primary home offers 2 bedrooms, 1 bathroom, and 1,042 sq ft of remodeled space
- Second dwelling includes 2 bedrooms, 1 bathroom, and 600 sq ft
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
$22,882
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
5.73%
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%
$457,640
$457.6K
Cap Rate 7%
$326,886
$326.9K
Cap Rate 9%
$254,244
$254.2K
Market Conditions
NOI Build-Up for 1,642 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
$34.5K $21.00/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$32.7K $19.91/SF
− OpEx
−$9.8K −$5.97/SF
NOI
$22.9K $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%
$457,640
Cap Rate 7%
$326,886
Cap Rate 9%
$254,244
Alternative Uses
Best Use
Multifamily LT 5
$326.9K
$286.0K – $381.4K
NOI $22,882 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$301.2K
$263.5K – $351.4K
NOI $21,083 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$461.1K
$403.5K – $538.0K
NOI $32,278 @ 7.0% cap · market cap 8.09%
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
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 97266, OR
36,095
Population
13,863
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
5,917
Density / Sq Mi
$71,791
Median Household Income
$39,856
Median Earnings
$1,532
Median Rent
$420,800
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 dwellings share one lot with updated kitchens, stackable laundry, and covered parking.
Where is this duplex located?
The property is located at 8625 Southeast Knapp Street Portland, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two detached dwellings on one lot; Primary home offers 2 bedrooms, 1 bathroom, and 1,042 sq ft of remodeled space; Second dwelling includes 2 bedrooms, 1 bathroom, and 600 sq ft
