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.
Sold
$340,000
118 NE Russet St, Portland, OR 97211
2beds
936sqft
Residential, Single Family Residence
Built in 1927
3,920.4 Square Feet Lot
$392,900 Zestimate®
$363/sqft
$2,311 Estimated rent
Home value
$392,900
$330,000 - $456,000
$2,311/mo
Zestimate® history
Owner options
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$1,709/mo
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$1,709/mo
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List your homeWhat's special
Fully fenced yardFull unfinished basementLoaded with character
Zillow last checked:
Listing updated:
Listed by:
Jim McCartan 503-314-2100,
Cascade Hasson Sotheby's International Realty,
Joe McCartan 971-400-0017,
Cascade Hasson Sotheby's International Realty
Bought with:
Robert Ascherin, 201211509
Oregon Digs Real Estate
Source: RMLS (OR),MLS#: 113722725
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
Primary bedroom
- Features: Closet, Wallto Wall Carpet
- Level: Main
Bedroom 2
- Features: Closet, Wallto Wall Carpet
- Level: Main
Dining room
- Features: Ceiling Fan, Living Room Dining Room Combo, Wallto Wall Carpet
- Level: Main
Kitchen
- Features: Builtin Features, Free Standing Range, Free Standing Refrigerator
- Level: Main
Living room
- Features: Ceiling Fan, Fireplace, Living Room Dining Room Combo, Wallto Wall Carpet
- Level: Main
Heating
- Forced Air, Fireplace(s)
Cooling
- Central Air
Appliances
- Included: Free-Standing Range, Free-Standing Refrigerator, Range Hood, Washer/Dryer, Gas Water Heater
Features
- Ceiling Fan(s), Closet, Living Room Dining Room Combo, Built-in Features
- Flooring: Laminate, Wall to Wall Carpet
- Windows: Wood Frames
- Basement: Unfinished
- Number of fireplaces: 1
- Fireplace features: Wood Burning
Interior area
- Total structure area: 936
- Total interior livable area: 936 sqft
Property
Parking
- Total spaces: 1
- Parking features: Driveway, Off Street, Detached
- Garage spaces: 1
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: Bathroom Cabinets, Natural Lighting, Accessibility
Features
- Stories: 2
- Patio & porch: Patio
- Exterior features: Yard
- Fencing: Fenced
- Has view: Yes
- View description: Territorial
Lot
- Size: 3,920 sqft
- Features: Level, Private, SqFt 3000 to 4999
Details
- Additional structures: Gazebo
- Additional parcels included: R209204
- Parcel number: R209205
- Zoning: R5
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Craftsman,Traditional
- Property subtype: Residential, Single Family Residence
Materials
- Vinyl Siding
- Roof: Composition
Condition
- Fixer
- New construction: No
- Year built: 1927
Utilities & green energy
- Gas: Gas
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Security
- Security features: None
Location
- Region: Portland
- Subdivision: Piedmont
Other
Other facts
- Listing terms: Cash,Conventional
- Road surface type: Concrete, Paved
Price history
| Date | Event | Price |
|---|---|---|
| 10/31/2025 | Sold | $340,000-2.9%$363/sqft |
Source:  RMLS (OR) #113722725 Report a problem | ||
| 9/9/2025 | Pending sale | $350,000$374/sqft |
Source: RMLS (OR) #113722725 Report a problem | ||
| 9/4/2025 | Price change | $350,000-12.1%$374/sqft |
Source: RMLS (OR) #113722725 Report a problem | ||
| 7/16/2025 | Price change | $398,000-5.2%$425/sqft |
Source: RMLS (OR) #113722725 Report a problem | ||
| 6/2/2025 | Listed for sale | $420,000+333%$449/sqft |
Source: RMLS (OR) #113722725 Report a problem | ||
| 2/13/1998 | Sold | $97,000$104/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,795 +3.7% | $140,840 +3% |
| 2024 | $3,659 +4% | $136,740 +3% |
| 2023 | $3,518 +2.2% | $132,760 +3% |
| 2022 | $3,442 +1.7% | $128,900 +3% |
| 2021 | $3,384 +9% | $125,150 +3% |
| 2020 | $3,104 +3.8% | $121,510 +3% |
| 2019 | $2,990 | $117,980 +3% |
| 2018 | $2,990 +3% | $114,550 +3% |
| 2017 | $2,903 +14% | $111,220 +3% |
| 2016 | $2,546 | $107,990 +3% |
| 2015 | $2,546 +2.7% | $104,850 +3% |
| 2014 | $2,479 +3.9% | $101,800 +3% |
| 2013 | $2,385 +10.5% | $98,840 +3% |
| 2012 | $2,158 +3.9% | $95,970 +3% |
| 2011 | $2,077 +5.4% | $93,180 +3% |
| 2010 | $1,971 +2.7% | $90,470 +3% |
| 2009 | $1,919 +6% | $87,840 +3% |
| 2008 | $1,811 +0.3% | $85,290 +3% |
| 2007 | $1,806 +11.4% | $82,810 +3% |
| 2006 | $1,622 +4.7% | $80,400 +3% |
| 2005 | $1,549 -8.2% | $78,060 +3% |
| 2004 | $1,687 +2.3% | $75,790 +3% |
| 2003 | $1,650 +8.9% | $73,590 +3% |
| 2002 | $1,515 +7.4% | $71,450 +6.1% |
| 2000 | $1,411 | $67,350 |
Find assessor info on the county website
Neighborhood: Piedmont
Nearby schools
GreatSchools rating
- 9/10Woodlawn Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 8/10Ockley GreenGrades: 6-8Distance: 1.1 mi
- 5/10Jefferson High SchoolGrades: 9-12Distance: 1.2 mi
Schools provided by the listing agent
- Elementary: Woodlawn
- Middle: Ockley Green
- High: Roosevelt,Jefferson
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$392,900
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$392,900
- Oregon
- Multnomah County
- Portland
- 97211
- Piedmont
- 118 NE Russet St
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