Updated Triplex in
For Sale
$550,000
9622 Southeast Foster Road, Portland, OR 97266
Updated triplex with assumable low-interest loan in Portland.
Property Size2,424 SF
Price / SF$226.90
Days on Market221
Property Features for 9622 Southeast Foster Road
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
3
Property subtype
Multi Family
Zoning
CM3
Taxes and HOA fees
Annual Taxes
$6,453
Amenities
2
Crawl Space
Composition
Cement Siding
Building Details
Year Built
1979
Listing Agency:
The A Realty LLC
(503) 998-1747
Listed By:
Amit Amshalom · License #201247964
(503) 998-1747
Source:
Compass
Added: Jan 22
Changed: Aug 8
Last Checked: Jul 24 at 3:30PM
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 The A Realty LLC
Investment Insights
Based on property information with market context.
This updated triplex, located at 9622 SE Foster Rd in Portland, presents an investment opportunity. The property features a new roof and new siding. The property size is 2424 square feet. An assumable FHA loan is available at a 2.375% interest rate. The seller is open to selling one side or both together, depending on the buyer's preference.
Key Highlights
- Assumable FHA loan at 2.375%
- Updated triplex in a desirable Portland location
- New roof and new siding
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
$33,780
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
6.14%
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%
$675,600
$675.6K
Cap Rate 7%
$482,571
$482.6K
Cap Rate 9%
$375,333
$375.3K
Market Conditions
NOI Build-Up for 2,424 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
$50.9K $21.00/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$48.3K $19.91/SF
− OpEx
−$14.5K −$5.97/SF
NOI
$33.8K $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%
$675,600
Cap Rate 7%
$482,571
Cap Rate 9%
$375,333
Alternative Uses
Best Use
Multifamily LT 5
$482.6K
$422.3K – $563.0K
NOI $33,780 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$444.6K
$389.1K – $518.7K
NOI $31,124 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$680.7K
$595.6K – $794.2K
NOI $47,650 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
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?
Triplex - Updated triplex with assumable low-interest loan in Portland.
Where is this triplex located?
The property is located at 9622 Southeast Foster Road Portland, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Assumable FHA loan at 2.375%; Updated triplex in a desirable Portland location; New roof and new siding
