118 NE Russet St
Portland, OR 97211
Map
- 2 beds
- 1 bath
- 936 sqft
- 3,920 sqft lot
- $448 per sqft
- 1927 build
- – on site
Don’t miss this rare investment opportunity at 118 NE Russet Street—an original 1927 home located in Portland’s desirable Piedmont neighborhood. This 2-bedroom, 1-bath property is loaded with character, featuring vintage charm throughout. While it needs updating, the solid construction and functional layout make it the perfect project for flippers, developers, or buyers looking to build serious equity. The full, unfinished basement offers exceptional expansion potential—ample space to add at least two additional bedrooms, a bathroom, and bonus living areas. The home also includes a fully fenced yard, a detached 312 sq ft garage, and a long driveway for convenient off-street parking. A separate tax lot (R209204) is included in the sale, adding further value and possibilities. Situated near parks, restaurants, shops, and major transit routes, this property combines location, flexibility, and upside. Whether you’re renovating for resale, income property, or personal use, this is a can’t-miss opportunity to reimagine a classic Portland home and maximize your return.
Last checked:
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Last updated Jun 2, 2025
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MLS# 113722725 —
The Building
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Year Built:1927
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New Construction:false
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Architectural Style:Craftsman, Traditional
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Roof:Composition
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Stories:2
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Basement:Unfinished
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Exterior Description:VinylSiding
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Exterior Features:Fenced, Gazebo, Outbuilding, Patio, Yard
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Window Features:WoodFrames
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Security Features:None
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Accessibility:true
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Accessibility Features:BathroomCabinets, NaturalLighting
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Building Area Description:Tax
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Building Area Total:936.0
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Building Area Calculated:936
Interior
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Interior Features:CeilingFan, LaminateFlooring, WalltoWallCarpet, WasherDryer
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Fireplace:true
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Fireplaces Total:1
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Fireplace Features:WoodBurning
Room Dimensions
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Main Level Area Total:936
Financial & Terms
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Bank Owned:false
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Land Lease:false
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Short Sale:false
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Home Warranty:false
Location
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Directions:N Lombard St to NE Russet St
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Latitude:45.577742
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Longitude:-122.664532
The Property
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Parcel Number:R209205
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Parcel Number 2:R209204
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Property Type:Residential
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Property Subtype:SingleFamilyResidence
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Property Condition:Fixer
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Lot Features:Level, Private
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Lot Size Range:SqFt3000to4999
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Lot Size Acres:0.09
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Lot Size SqFt:3920.0
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Zoning:R5
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View:true
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View Description:Territorial
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Farm:false
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Property Attached:false
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Road Surface Type:Concrete,Paved
Listing Agent
- Contact info:
- Agent phone:
- (503) 314-2100
- Office phone:
- (503) 335-9898
Taxes
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Tax Year:2024
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Tax Legal Description:LOVES ADD, BLOCK 6, W 41' OF LOT 3
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Tax Annual Amount:3658.51
Beds
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Bedrooms Total:2
Baths
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Total Baths:1
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Full Baths:1
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Total Baths:1.0
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Total Baths Main Level:1.0
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Full Baths Main Level:1
Heating & Cooling
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Heating:ForcedAir
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Heating:true
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Cooling:CentralAir
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Cooling:true
Utilities
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Sewer:PublicSewer
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Hot Water Description:Gas
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Water Source:PublicWater
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Fuel Description:Electricity, Gas
Appliances
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Appliances:FreeStandingRange, FreeStandingRefrigerator, RangeHood
Schools
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Elementary School:Woodlawn
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Middle Or Junior School:Ockley Green
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High School:Roosevelt
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High School:Jefferson
The Community
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Subdivision Name:PIEDMONT
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Senior Community:false
Parking
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Attached Garage:false
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Garage Type:Detached
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Garage Spaces:1.0
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Parking Total:1.0
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Parking Features:Driveway, OffStreet
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RV Parking:RVParking
Monthly cost estimate
Asking price
$420,000
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$2,248
|
| Taxes | $304 |
| Insurance | $115 |
| Utilities | $127 See report |
| Total | $2,794/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
6/2/25
Jun 2, 2025
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Listed / Active | RMLS | $420,000 |
36% of nearby similar homes sold for over asking price
Similar homes that sold in bidding wars went $25k above asking price on average, but some went as high as $90k over asking price.
