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.
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.
A 1928 craftsman on 0.12 acres.
Building
Site & utilities
Laurelhurst / NE Portland
Researched nearby locations
Location
5115 NE Multnomah St, Portland, OR 97213
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.
Immediate access to multiple neighborhood parks, dog off-leash areas, playgrounds and bike routes — excellent for active families and outdoor enthusiasts.
A factual market snapshot around 5115 NE Multnomah St.
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.
Typical single-family residential zone allowing detached homes and limited accessory units; subject to Portland zoning regulations.
Zoning
Research-indicated uses
- Single Family Detached Residence
- Accessory Dwelling Unit (Subject To Permit)
- Home Occupations (Limited)
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.
What stands out about this property.
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
Sources & research confidence.
See where the property research came from and how confidence varies by field.