$599,000
$40K PRICE DROP

Estimated payment $3,648/month

Total Views 14,234
5 Beds
2 Baths
1,968 Sq Ft
$304 Price per Sq Ft

Highlights

  • Cul-De-Sac
  • 1 Car Garage
  • Mini Split Heat Pump
  • Mini Split Air Conditioners

About This Home

HUGE Price Improvement for this turnkey flexible investment opportunity in NE Portland with ASSUMABLE LOAN option with a 3.375% Interest rate!!! Fully upgraded in 2020, this home features two separate living spaces. Basement unit has its own entrance, kitchen, backyard, and laundry room. Perfect for anyone looking to add an income-generating property to your portfolio in this high demand rental market with long-term tenants already in place or for anyone looking to live in one unit while generating additional income from the other! This beautifully remodeled home in the heart of NE Portland offers many options! Prime location with easy access to I-5 and I-205 and minutes away from Alberta Arts District, Mississippi Ave, and Woodlawn. Don't miss out on this great investment opportunity!

Listing Agent

Ana Campos

Opt Brokerage Phone: 541-678-3527 License #201241520 Listed on: 03/08/2025

Opt

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,603

Year Built

  • Built in 1960

Lot Details

  • Cul-De-Sac

Parking

  • 1 Car Garage
  • On-Street Parking

Home Design

  • Composition Roof

Interior Spaces

  • 1,968 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Bathrooms

Finished Basement

  • Exterior Basement Entry
  • Apartment Living Space in Basement

Schools

  • Faubion Elementary And Middle School
  • Jefferson High School

Utilities

  • Mini Split Air Conditioners
  • Cooling System Mounted In Outer Wall Opening
  • Mini Split Heat Pump
  • Heating System Mounted To A Wall or Window
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number R191026

Community Details

Overview

  • 2 Units
  • Concordia Subdivision

Building Details

  • Operating Expense $5,172
  • Gross Income $52,080
  • Net Operating Income $24,286

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,603

Year Built

Built in 1960

Lot Details

0

Parking

1

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Stories: 2
  • Year Built: 1960
  • Property Attached Yn: No
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: ExteriorEntry, Finished, SeparateLivingQuartersApartmentAuxLivingUnit
  • Total Bedrooms: 5
  • Lot Size Range: SqFt3000to4999

Exterior Features

  • Exterior Description: Other
  • Lot Size: 3,000 to 4,999 SqFt
  • View: No
  • Lot Features: Cul_de_sac
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Parking Description: Garage, OnStreet
  • Attached Garage: No
  • Garage Spaces: 1.0
  • Total Parking Spaces: 1.0

Utilities

  • Fuel Description: Electricity
  • Hot Water: Electricity
  • Cooling: MiniSplit, WallUnit
  • Cooling Y N: Yes
  • Heating: MiniSplit, WallHeater
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Schools

  • Elementary School: Faubion
  • High School: Jefferson
  • Middle Or Junior School: Faubion

Lot Info

  • Zoning: R5
  • Parcel #: R191026

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: TrashCollection

Tax Info

  • Tax Deferral: No
  • Tax Annual Amount: 4602.74

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2
  • Number Of Units Total: 2
  • Gross Rent Multiplier: 11.5
  • Annual Gross Income: 52080.0
  • Property Net Operating Income: 24286.0
  • Annual Operating Expense: 5172.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $4,603 $167,020 $0 $0
2022 $4,330 $162,160 $0 $0
2021 $4,257 $157,440 $0 $0
2020 $3,905 $152,858 $0 $0
2019 $3,170 $125,060 $0 $0
2018 $3,077 $121,420 $0 $0
2017 $2,949 $117,890 $0 $0
2016 $2,699 $114,460 $0 $0
2015 $2,628 $111,130 $0 $0
2014 $2,588 $107,900 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2025 07/31/25 Price Changed $599,000 -4.1% $304 / Sq Ft
06/20/2025 06/20/25 Price Changed $624,900 -2.2% $318 / Sq Ft
03/08/2025 03/08/25 For Sale $639,000 +64.8% $325 / Sq Ft
06/24/2019 06/24/19 Sold $387,800 -3.0% $197 / Sq Ft
05/10/2019 05/10/19 Pending -- -- --
04/13/2019 04/13/19 Price Changed $399,900 -5.9% $203 / Sq Ft
03/28/2019 03/28/19 For Sale $425,000 -- $216 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $387,800 Old Republic Title Co Of Or
Interfamily Deed Transfer -- Ticor Title Company Of Or
Warranty Deed $222,500 Ticor Title Insurance Compan
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $416,250 New Conventional
Closed $290,850 New Conventional
Previous Owner $259,600 New Conventional
Previous Owner $50,000 Credit Line Revolving
Previous Owner $178,000 Purchase Money Mortgage
Source: Public Records

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Source: Regional Multiple Listing Service (RMLS)

MLS Number: 505485233

Regional Multiple Listing Service (RMLS)

APN: R191026