Two-Unit Duplex with Creek
For Sale
$719,900
9295 SW Hill St, Portland, OR 97223
Both residences feature updated interiors, private decks, and two-level layouts.
Property Size2,264 SF
Days on Market50
Property Features for 9295 SW Hill St
General Information
Standard status
Active
Size
2,264 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
RES-D
Occupancy
100%
Net Operating Income
$50,035
Financials
Asking Price
$735,000
Cap Rate
6.81%
Gross Income
$55,200
Gross Rent Multiplier
13.32
Average Monthly Rent
$2,300
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,165
Amenities
air conditioning
deck
dishwasher
washer/dryer
Building Details
Building Size
2,264 SF
Year Built
1989
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Works Real Estate
(503) 702-6199
Listed By:
Mitchell Heiner
(503) 702-6199
Source:
Metanars
Added: Jul 2
Changed: Aug 14
Last Checked: Aug 19 at 3:47PM
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 Works Real Estate
Investment Insights
Based on property information with market context.
Built in 1989, this RES-D duplex contains two residences, each offering approximately 1,132 square feet with three bedrooms and 1.5 bathrooms. The two-level layouts place the bedrooms and full bathrooms on the lower level, while each home includes air conditioning, a dishwasher, and a washer/dryer. Recent interior updates include new downstairs carpet and vinyl flooring on the main level.
Each unit has a private rear deck with views toward Fanno Creek, mature trees, and surrounding natural areas. Both residences are leased, and tenants are responsible for utilities. The property is located in the Tigard area and provides a two-unit residential income configuration with established occupancy.
Each unit has a private rear deck with views toward Fanno Creek, mature trees, and surrounding natural areas. Both residences are leased, and tenants are responsible for utilities. The property is located in the Tigard area and provides a two-unit residential income configuration with established occupancy.
Key Highlights
- Two‑unit duplex built in 1989
- Each unit offers approximately 1,132 square feet with 3 bedrooms and 1.5 bathrooms
- Two‑level layouts with bedrooms and full bathrooms on the lower level
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
$33,012
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
4.59%
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%
$660,240
$660.2K
Cap Rate 7%
$471,600
$471.6K
Cap Rate 9%
$366,800
$366.8K
Market Conditions
NOI Build-Up for 2,264 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
$50.3K $22.20/SF
− Vacancy
−$3.1K −$1.37/SF
EGI
$47.2K $20.83/SF
− OpEx
−$14.1K −$6.25/SF
NOI
$33.0K $14.58/SF
Area
ZIP 97223
Vacancy
6.17%
Lease Rate
$22.20 /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%
$660,240
Cap Rate 7%
$471,600
Cap Rate 9%
$366,800
Alternative Uses
Best Use
Multifamily LT 5
$471.6K
$412.7K – $550.2K
NOI $33,012 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$635.8K
$556.3K – $741.8K
NOI $44,505 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
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 - Both residences feature updated interiors, private decks, and two-level layouts.
Where is this duplex located?
The property is located at 9295 SW Hill St Portland, OR.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1989; Each unit offers approximately 1,132 square feet with 3 bedrooms and 1.5 bathrooms; Two‑level layouts with bedrooms and full bathrooms on the lower level
