Updated One-Level
For Sale
$525,000
880 NW Florence Ave, Gresham, OR 97030
Two residential units feature patios, fenced backyards, and access to a spacious two-car garage.
Property Size1,708 SF
Days on Market14
Property Features for 880 NW Florence Ave
General Information
Standard status
Active
Size
1,708 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
MULTI
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,446
Amenities
gas fireplace
patio
fenced backyard
Building Details
Building Size
1,708 SF
Year Built
1968
Buildings
1
Stories
1
Units
2
Listing Agency:
Kohler Meyers O'Halloran Inc.
(503) 703-8168
Listed By:
Darren O'Halloran
(503) 703-8168
Source:
Allprofessionalsre
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 1:26PM
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 Kohler Meyers O'Halloran Inc.
Investment Insights
Based on property information with market context.
This one-level duplex contains two residential units and has received updates during the ownership period. The property includes a roof installed in 2021, gas fireplaces added in 2019, electric water heaters plumbed for gas, and a spacious two-car garage with storage capacity. Each unit has its own patio and fenced backyard. The property was built in 1968 and is zoned MULTI.
Located at 880 NW Florence Ave in Gresham’s East Hill neighborhood, the duplex is near Gresham Station Mall, the new Multnomah County Library, and Historic Downtown Gresham. The occupied property should be viewed without disturbing the tenant in 880.
Located at 880 NW Florence Ave in Gresham’s East Hill neighborhood, the duplex is near Gresham Station Mall, the new Multnomah County Library, and Historic Downtown Gresham. The occupied property should be viewed without disturbing the tenant in 880.
Key Highlights
- Two‑unit, one‑level duplex built in 1968
- Roof installed in 2021
- Gas fireplaces added in 2019
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
$22,679
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
4.32%
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%
$453,580
$453.6K
Cap Rate 7%
$323,986
$324.0K
Cap Rate 9%
$251,989
$252.0K
Market Conditions
NOI Build-Up for 1,708 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
$33.8K $19.80/SF
− Vacancy
−$1.4K −$0.83/SF
EGI
$32.4K $18.97/SF
− OpEx
−$9.7K −$5.69/SF
NOI
$22.7K $13.28/SF
Area
Gresham, OR
Vacancy
4.20%
Lease Rate
$19.80 /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%
$453,580
Cap Rate 7%
$323,986
Cap Rate 9%
$251,989
Alternative Uses
Best Use
Multifamily LT 5
$324.0K
$283.5K – $378.0K
NOI $22,679 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$291.3K
$254.9K – $339.8K
NOI $20,388 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$390.3K
$341.5K – $455.4K
NOI $27,321 @ 7.0% cap · market cap 5.20%
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
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
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 - Two residential units feature patios, fenced backyards, and access to a spacious two-car garage.
Where is this duplex located?
The property is located at 880 NW Florence Ave Gresham, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit, one‑level duplex built in 1968; Roof installed in 2021; Gas fireplaces added in 2019
