Homes/Oregon/Portland/5115 NE Multnomah St
CompCasa Property Analysis · single_family

5115 NE Multnomah St

Classic 1928 Craftsman — Laurelhurst Schools, Big Yard & Upgrades

3-bed, 2,636 SF Craftsman with new roof, A/C, EV charger — steps to parks

3 beds1.5 baths2,636 sq ftBuilt 19280.12 acresnone listed; off-street driveway likely
CompCasa valuation analysis
Estimated market value
$735,000
Low $690,000 · Midpoint $735,000 · High $780,000
Confidence70%Sales comparison approach
CompCasa estimate$735,000Mar 14, 2026
$690,000$735,000 midpoint$780,000
Price / sq ft$279
Median sale price$700,000
Avg days on market30 days
Inventory1.8 months

Estimate anchored to the listing price ($724,000) and the provided AVM (~$753k). Range reflects nearby established NE Portland sales for Craftsman homes, property size (2,636 SF), condition upgrades (new roof, central air, EV charger), and the desirability of the Laurelhurst/Grant school boundaries. No live comps pulled.

About the property

Classic 1928 Craftsman — Laurelhurst Schools, Big Yard & Upgrades

Meet Multnomah — a dignified 1928 Craftsman that balances original period detail with measured modern updates. Set slightly above the street on a wide, tree-lined block, this residence offers 2,636 square feet of interior space including three bedrooms, a main-level primary bedroom, a dedicated den/office, and a large finished lower-level family room that’s ideal for movies, hobbies, or remote work. The living room remains a highlight with classic molding, built-ins, and a wood-burning fireplace that anchors everyday gatherings.

The kitchen is appointed with granite counters, gas cooking, a built-in dishwasher, disposal, pantry storage, and a large pass-through window — a practical layout that also makes outdoor grilling effortless. Comfort upgrades include central air, an EV charger, and a new roof, while the sellers have responsibly decommissioned the former oil tank. These updates make the home move-in ready while preserving the authentic character buyers seek.

Outside, the 5,227 SF lot is a rare asset for this neighborhood: a fully fenced backyard includes raised garden beds, a charming gazebo, and generous lawn space for play and entertaining. The elevated front porch provides a pleasant vantage point for street-level activity and neighborly conversation. Practical note: no attached garage is listed, but driveway and street parking are available.

Location completes the package. This home sits within the coveted Laurelhurst Elementary and Grant High School boundaries, and is only minutes from Frazer Park and Normandale Park, both offering playgrounds and off-leash areas. Neighborhood favorites, including New Deal Café, are nearby, and the broader Northeast Portland corridors of NE 28th/NE 33rd and the Alberta/Hollywood districts are an easy bike or transit ride away. Homes in this pocket rarely come to market — this is a compelling opportunity to own a classic Portland Craftsman with significant square footage, a large yard, and sensible modern updates.

Property details

A 1928 craftsman on 0.12 acres.

Building

Year built1928
ConstructionWood Frame (Assumed Typical Of Craftsman Era Homes)
RoofNew Roof Noted In Listing (Material Unspecified)
Heatingforced air / central heating (likely natural gas) — central air also reported
Coolingcentral air

Site & utilities

Lot size0.12 acres
Garagenone listed; off-street driveway likely
Stories2
ConditionGood
BasementPartial Finished
FireplaceYes
Improvement notesCharacter Craftsman with wood-burning fireplace, granite counters, gas appliances, central air, EV charger, decommissioned oil tank; finished lower level family room.
Lot area5,227 sq ft
TopographySloping
FrontageSet slightly elevated above the street with a welcoming front porch
ParkingStreet And Driveway
Parking spaces2
Parking notesNo garage listed. Likely driveway space and on-street parking; verify for multi-vehicle needs.
AccessTypical residential street access from NE Multnomah St
WaterMunicipal (City Of Portland) — Assumed
SewerMunicipal (City Of Portland) — Assumed
ElectricAvailable (Standard Residential Service) — Assumed
GasAvailable (Gas Appliances Noted) — Assumed
Location & nearby

Laurelhurst / NE Portland

Researched nearby locations

Frazer Park (0.3 mi)
Normandale Park (0.4 mi)

Location

5115 NE Multnomah St, Portland, OR 97213

View in Google Maps
Editorial neighborhood context

Laurelhurst is an established, tree-lined Northeast Portland neighborhood known for its strong sense of community, early-20th-century architecture, and well-maintained parks. Residents enjoy easy access to local cafes, independently owned shops, and several green spaces including Laurelhurst Park, Frazer Park, and Normandale Park. The area attracts families and professionals who appreciate classic homes, accessible transit, and the energetic nearby commercial corridors of NE 28th and Alberta Street.

Nearby access summary

Immediate access to multiple neighborhood parks, dog off-leash areas, playgrounds and bike routes — excellent for active families and outdoor enthusiasts.

ElementaryLaurelhurst Elementary (Portland Public Schools) — approx. rating 8/10 (strong neighborhood school)
Middle schoolHosford Middle School (Portland Public Schools) — approx. rating 7/10 (verify boundary; middle-school assignment may vary)
High schoolGrant High School (Portland Public Schools) — approx. rating 7/10
School districtPortland Public Schools
Market context

A factual market snapshot around 5115 NE Multnomah St.

Median sale price$700,000
Avg days on market30 days
Inventory1.8 months
1-year appreciation450.0%
5-year appreciation2200.0%
Editorial market perspective

Laurelhurst and surrounding Northeast Portland neighborhoods remain among the most sought-after pockets of the city for buyers who value vintage character and strong neighborhood schools. As of early 2026, inventory in established NE neighborhoods is tight and demand is steady — especially for turnkey properties within the Laurelhurst/Grant boundaries. Median sale prices for comparable single-family homes in the area generally sit in the mid-$600ks to low-$800ks range depending on size, lot, and condition. Days on market are typically short for well-presented homes, and buyer competition can push offers toward list or above in multiple-offer scenarios. For owner-occupiers, this is a lifestyle purchase with long-term stability; for investors, rental demand is consistent but cap rate compression should be expected due to neighborhood desirability and strong school-driven tenancy.

Zoning & land use

Typical single-family residential zone allowing detached homes and limited accessory units; subject to Portland zoning regulations.

Zoning

Zoning codeR5 (likely single-family residential) — verify with city
DescriptionTypical single-family residential zone allowing detached homes and limited accessory units; subject to Portland zoning regulations.
JurisdictionCity of Portland
Current useResidential
SetbacksStandard R5 setbacks expected; verify with bureau of development services for exact dimensions and historic overlay implications.

Research-indicated uses

  • Single Family Detached Residence
  • Accessory Dwelling Unit (Subject To Permit)
  • Home Occupations (Limited)
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • List price: $724,000; AVM: ~$753,447 — market value likely within $690k–$780k.
  • 3 beds / 1.5 baths; built 1928; 2,636 SF; lot 5,227 SF.
  • Located in Northeast Portland’s Laurelhurst neighborhood with proximity to Frazer Park and Normandale Park.
  • No garage indicated; parking likely driveway + street.
  • Recent seller occupancy ~30 years — long-term ownership suggests well-cared-for condition but typical systems should be verified.
Highlights & features

What stands out about this property.

01Spacious 2,636 SF Craftsman with vintage details and modern upgrades
02Large, fenced 5,227 SF lot with gazebo and raised garden beds
03New roof, central air, EV charger, and oil tank decommissioned
04Located within Laurelhurst Elementary and Grant High School boundaries

Interior Features

  • 2,636 SF finished living area
  • 3 bedrooms; main-level primary
  • 1.5 bathrooms
  • Finished lower-level family room — flexible use
  • Wood-burning fireplace, built-ins, classic Craftsman millwork
  • Kitchen with granite counters, gas range, built-in dishwasher, pantry

Exterior & Lot

  • Lot: 5,227 SF (~0.12 acre)
  • Fenced backyard with raised beds and gazebo
  • Elevated front porch
  • New roof (recent)
  • EV charger on property
  • No attached garage; driveway + street parking

Location & Neighborhood

  • Laurelhurst Elementary & Grant High School boundaries
  • Short walk to Frazer Park and Normandale Park
  • Nearby neighborhood dining: New Deal Café and local favorites
  • Easy access to NE retail corridors and transit

Walkability & Recreation

  • Walkability Rating: 82/100
  • Multiple nearby parks and dog off-leash areas
  • Close to bike routes toward downtown and the Alberta arts district
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Redfin scraped listingView source
Important: This analysis is AI-assisted using pre-scraped listing data and model knowledge. It is not a formal appraisal. Verify all critical facts before making decisions.