Residential Income
For Sale
$515,000
877 SE FRANCIS AVE, Gresham, OR 97080
Residential income property with a garage, driveway, and crawl-space foundation.
Property Size1,976 SF
Days on Market43
Property Features for 877 SE FRANCIS AVE
General Information
Standard status
Active
Size
1,976 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
MDR-12
Net Operating Income
$31,200
Taxes and HOA fees
Annual Taxes
$5,282
Amenities
Crawl Space
Driveway, Garage
Building Details
Building Size
1,976 SF
Year Built
1978
Stories
1
Listing Agency:
Powell Team Real Estate
(503) 888-2350
Listed By:
Jodi Buresh
(503) 888-2350
Source:
Evrealestate
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 12 at 5:15AM
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 Powell Team Real Estate
Investment Insights
Based on property information with market context.
This residential income property was built in 1978 and includes a garage, driveway, and crawl-space foundation. The property carries MDR-12 zoning and is located at 877 SE Francis Ave in Gresham, Oregon.
Access is directed from SE Ninth St, with the property situated in Multnomah County.
Access is directed from SE Ninth St, with the property situated in Multnomah County.
Key Highlights
- MDR‑12 zoning
- Built in 1978
- Garage and driveway
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
$23,587
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
4.58%
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%
$471,740
$471.7K
Cap Rate 7%
$336,957
$337.0K
Cap Rate 9%
$262,078
$262.1K
Market Conditions
NOI Build-Up for 1,976 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
$44.6K $22.56/SF
− Vacancy
−$1.7K −$0.86/SF
EGI
$42.9K $21.70/SF
− OpEx
−$19.3K −$9.77/SF
NOI
$23.6K $11.94/SF
Area
Gresham, OR
Vacancy
3.80%
Lease Rate
$22.56 /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%
$471,740
Cap Rate 7%
$336,957
Cap Rate 9%
$262,078
Alternative Uses
Best Use
Apartment 5plus
$337.0K
$294.8K – $393.1K
NOI $23,587 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$451.5K
$395.1K – $526.8K
NOI $31,608 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Explore this area
Business Placement
Demographics for 97080, OR
45,647
Population
17,276
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
21.6 sq mi
ZIP Area
2,113
Density / Sq Mi
$96,218
Median Household Income
$47,562
Median Earnings
$1,596
Median Rent
$485,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income property with a garage, driveway, and crawl-space foundation.
Where is this residential income property located?
The property is located at 877 SE FRANCIS AVE Gresham, OR.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: MDR‑12 zoning; Built in 1978; Garage and driveway
