Updated Duplex with Two
New
For Sale
Contact for pricing
9042 SW Monterey Pl, Portland, OR 97225
Two-unit property with refreshed interiors, private outdoor space, and separate garages for both residences.
Property Size3,000 SF
Price / SF$249.97
Days on Market7
Property Features for 9042 SW Monterey Pl
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
r15
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1967
Stories
2
Units
2
Construction
mid-century modern
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jeff Stephens · License #201237728
Source:
Crexi
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 19 at 3:34PM
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 MORE Realty
Investment Insights
Based on property information with market context.
This 3,000-square-foot duplex, built in 1967, combines mid-century design elements with extensive recent improvements. The larger 9042 unit is vacant and includes a private deck, mini-split HVAC for air conditioning, and a flexible lower level. The 9040 residence is occupied and provides rental income. Each unit has its own garage, while the property’s landscaped grounds include mature trees and a private setting.
Updates include a new roof, newer vinyl windows, two new water heaters, renovated kitchens and bathrooms, fresh exterior paint, one new electrical panel, and copper plumbing. The property is zoned R15 and sits on a quiet road without through-traffic. Providence St. Vincent Medical Center is located nearby, within walking distance according to the property information.
Updates include a new roof, newer vinyl windows, two new water heaters, renovated kitchens and bathrooms, fresh exterior paint, one new electrical panel, and copper plumbing. The property is zoned R15 and sits on a quiet road without through-traffic. Providence St. Vincent Medical Center is located nearby, within walking distance according to the property information.
Key Highlights
- 3,000‑square‑foot duplex on a 0.??
- Unit 9042 is vacant; Unit 9040 provides rental income
- Each unit includes its own garage
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
$41,807
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
5.58%
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%
$836,140
$836.1K
Cap Rate 7%
$597,243
$597.2K
Cap Rate 9%
$464,522
$464.5K
Market Conditions
NOI Build-Up for 3,000 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
$63.0K $21.00/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$59.7K $19.91/SF
− OpEx
−$17.9K −$5.97/SF
NOI
$41.8K $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%
$836,140
Cap Rate 7%
$597,243
Cap Rate 9%
$464,522
Alternative Uses
Best Use
Multifamily LT 5
$597.2K
$522.6K – $696.8K
NOI $41,807 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$550.3K
$481.5K – $642.0K
NOI $38,520 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$842.5K
$737.2K – $982.9K
NOI $58,973 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 97225, OR
26,247
Population
12,219
Households
2.1
Avg Household Size
41
Median Age
62%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,917
Density / Sq Mi
$111,341
Median Household Income
$60,933
Median Earnings
$1,703
Median Rent
$709,500
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-unit property with refreshed interiors, private outdoor space, and separate garages for both residences.
Where is this duplex located?
The property is located at 9042 SW Monterey Pl Portland, OR.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3,000‑square‑foot duplex on a 0.??; Unit 9042 is vacant; Unit 9040 provides rental income; Each unit includes its own garage
