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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Investment properties
25 47th Ave Portland, OR 97213-2316
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-1806281
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1912
Total area
2,500 SF
Lot
0.11 ac (4,792 SF)
Zoning code
CN2
APN
1N2E31CB 19400
UPID
US71-1806281
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$520k
Comparable Approach
Comparable
$801k
Blend (final)
Blend
$675k
Owner & transaction history
David Michelson · 1 yrs held
David Michelson
since 2025
Last sale
$659,750
7 recorded transactions
Zoning & alternative use
CN2 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$765,000
+21.2%
Medical building
$755,000
+19.9%
Office building
$725,000
+14.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$620,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$565,000
6.5%
$520,000
7%
$480,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$630,000
Current use
AUTO REPAIR, GARAGE
$765,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$755,000
Change: +20% · Conversion: Easy
OFFICE BUILDING
$725,000
Change: +15% · Conversion: Easy
RETAIL STORES
$575,000
Change: -9% · Conversion: Easy
WAREHOUSE, STORAGE
$510,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $660k (Dec 31 2024)
Last sale anchor
$660k
Dec 31 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$270 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,272
Tax year 2023
Assessed value
$349,900
Assessed 2023
Previous assessed
$339,710
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$305,000
Improvement market value
$424,000
Total market value
$729,000
Applied tax rate
201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1912
Heating
FORCED AIR
Stories
2
Bathrooms
2
Total area
2,500 SF
Lot
0.11 ac (4,792 SF)
Zoning code
CN2
APN
1N2E31CB 19400
UPID
US71-1806281
Jurisdiction
MULTNOMAH
Zoning & alternative use
CN2 · Portland, OR
Zoning CN2 · permitted uses
CN2 · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$630,000
AUTO REPAIR, GARAGE
Est. value
$765,000
MEDICAL BUILDING
Est. value
$755,000
OFFICE BUILDING
Est. value
$725,000
RETAIL STORES
Est. value
$575,000
WAREHOUSE, STORAGE
Est. value
$510,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1912
Heating
FORCED AIR
Stories
2
Bathrooms
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
David Michelson
Individual
Mailing address
25 NE 47TH AVE, PORTLAND, OR 97213-2316
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2025
$659,750
David Michelson
Kalen J Fredette
Warranty Deed
$626,763 · Onpoint Community Cu
Mar 20, 2020
$590,000
Kalen J Fredetta
Jakaje LLC
Warranty Deed
$354,000 · Guild Mortgage Co
Mar 2, 2005
—
Jakaje LLC
Vorvick,phillip N & Belenda R
Grant Deed
—
Jan 21, 2004
$335,000
Philip N Vorvick
Rozzell,matthew T & Stephanie R
Grant Deed
$251,250 · National City Mortgage Co
Jun 27, 2003
$155,000
Matthew T Rozzell
Page,virginia L
Grant Deed
$150,000 · Premier Holding INC
Aug 15, 1997
—
Richard A Page
Page,virginia L
Quit Claim Deed
related
$88,900 · Washington Mutual Fsb
May 1, 1989
$49,950
Virginia L Page
Dodd,ralph A
Grant Deed
$39,950 · Dodd Ralph A
—
—
Virginia Page
—
Deed Of Trust
related
$50,000 · Gb Home Equity
—
—
Matthew T Rozzell
—
Deed Of Trust
related
$213,750 · First Pacific Mortgage
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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