Property Report: Portland, OR 97202

3040 SE Division St is situated on one of Portland's most celebrated and culinarily vibrant corridors — SE Division Street in the heart of the Richmond neighborhood. Based on available data, this is a mixed-use or multi-unit residential address on a highly walkable, bikeable urban street teeming with acclaimed restaurants, boutique shops, bars, coffee houses, and artisan retailers. The property sits within Census Tract 41051000901, a high-income urban tract with a tract-level median home value of $660,900 and a median household income of $114,028 — well above both city and state averages — confirming Richmond's status as one of Portland's most desirable and premium close-in neighborhoods. For a buyer, the fundamental appeal is unmatched urban livability: the Division/Clinton corridor is described as Portland's hottest dining corridor, and walkability from this address is exceptional. Richmond Elementary School earns a 9/10 on GreatSchools and ranks in the top 5% of Oregon public schools. The Richmond neighborhood saw home prices up 15.7% year-over-year in October 2025, significantly outperforming the city-wide market which has been essentially flat. This is a strong appreciation story for a buyer with a long-term horizon. Key risks to consider: The property is directly on SE Division Street, which is a busy commercial arterial with active nightlife, restaurant patrons, bar traffic, and foot traffic seven days a week — evenings and weekends will be noticeably louder than a residential side street. Inner Southeast Portland has a documented pattern of noise complaints from amplified music and commercial activities. Property crime (theft, bike theft, package theft) is elevated in the Richmond/inner SE corridor relative to national averages, though violent crime has been dropping city-wide at a historic rate. Separately, the EPA TRI database records 8 active industrial facilities in ZIP code 97202, most notably Bullseye Glass Co., which was the center of a major toxic metals controversy from 2016; emissions have since been regulated and reduced, with a class action resulting in a $6.5M settlement, but the facility remains active approximately 1 mile away. Overall, this property represents an opportunity to own in one of Portland's most established, high-demand, and amenity-rich neighborhoods. Buyers who embrace urban living, walkability, and proximity to world-class dining will find this address compelling. Noise-sensitive buyers or those seeking quiet residential tranquility should weigh the Division Street frontage carefully before proceeding.

3040 SE Division St is located directly on Southeast Division Street, Portland's renowned dining and retail corridor, within the Richmond neighborhood of inner SE Portland. The specific address corresponds to the Eb & Bean frozen yogurt and ice cream shop, confirming this is a mixed-use commercial address in a highly active urban corridor. The surrounding block includes Ava Gene's restaurant, Salt & Straw ice cream, Blue Star Donuts, Bula Kava House, and dozens of other celebrated Portland establishments within walking distance. The building sits at 43 meters elevation in a dense urban setting. Detailed property characteristics (beds, baths, sqft, year built) are not publicly available for this specific unit/address from the data provided; a buyer should request full disclosure documents and a professional appraisal. The surrounding properties are a mix of older Portland commercial buildings, newer mixed-use residential developments, and traditional early-20th-century Craftsman bungalows on side streets. Biketown bike share is available immediately at the address. SE Division Street has undergone significant infrastructure improvements including a major repaving project and corner ramp construction completed in 2024-2025 under Portland Bureau of Transportation.

Valuation could not be precisely estimated due to insufficient property-specific data (unit type, square footage, year built, and recent sale history are unavailable for this specific address/unit). The address appears to be a commercial or mixed-use property. Comparable data is drawn from Richmond neighborhood medians (Redfin, Oct 2025: $740K median), SE Portland medians (Rocket Homes, May 2025: $542K at $327/sqft), and Portland Region detached home figures (Portland Appraisal Blog, 2025: $599,990 median at $321/sqft). The census tract-level median home value is $660,900. A licensed appraiser and full disclosure of property type, unit count, and square footage is strongly recommended before making any purchase offer.

Comparable Sales

Richmond is one of Portland's most coveted inner Southeast neighborhoods, anchored by the legendary SE Division Street dining and retail corridor. The area was once a modest stretch of adult theaters and paint shops but has transformed into what Portland Monthly calls 'the most culinarily clogged thoroughfare in the city.' Within steps of this address you'll find Ava Gene's (acclaimed vegetarian fine dining), Salt & Straw ice cream, Blue Star Donuts, Bula Kava House, Kanji Fusion Restaurant, Imperial Bottle Shop & Taproom, Wallflower Coffee, and dozens more celebrated establishments. The neighborhood is primarily residential just off the main corridor, with tree-lined side streets of Craftsman bungalows and Victorian homes. Richmond is a biker's paradise, with Clinton Street serving as a key bike commuter route just one block south. Biketown bike share is available at the address. The tract has a high-income demographic profile with a median household income of $114,028 and a median home value of $660,900 — both far exceeding state averages. The neighborhood is 53.4% renter-occupied and 46.6% owner-occupied, reflecting its urban, mixed demographic. Broadband connectivity is excellent at 91.9%, above the county average of 93%.

Nearby Amenities

The school picture for this address is a significant asset. Richmond Elementary School — a Japanese language immersion magnet school accessible via lottery — earns a 9/10 on GreatSchools and ranks in the top 5% of all Oregon public schools, with 55% math proficiency and 74% reading proficiency among its 537 students. Parent reviews praise the Japanese immersion program, high teacher quality, and strong community involvement. The school is 100% lottery-based with no neighborhood enrollment guarantee, so families should apply early. Franklin High School is the nearest neighborhood high school at approximately 0.7 miles. Reed College, a prestigious liberal arts college, is just 1.7 miles away, adding intellectual and cultural vitality to the neighborhood.

Richmond's safety profile reflects Portland's broader pattern: violent crime has dramatically improved, but property crime remains a persistent concern. In the first half of 2025, Portland recorded the steepest drop in violent crime among 68 major U.S. agencies tracked by the Major Cities Chiefs Association — homicides fell 51% year-over-year. However, property crime remains elevated: the Richmond neighborhood has a property crime rate of 45.21 per 1,000 residents (per CrimeGrade.org) and the neighborhood ranks in the 10th percentile for safety compared to all U.S. neighborhoods, meaning it is less safe than 90% of neighborhoods nationally for property crime. Inner SE Portland — including Richmond — has an elevated incidence of bike theft and package theft, consistent with its dense, walkable urban character. The northwest portion of Richmond (closer to Division's busier commercial blocks) sees the most incidents (~169/year). Residents and analysts note that inflated per-capita crime rates in the area partly reflect the large number of visitors to restaurants and retail who do not live in the neighborhood. The DC Sex Offender Registry tool does not apply here (Portland, OR); Oregon state registry data shows 24 sex offenders per 100,000 residents statewide, which is 91% below the national average. Buyers should invest in secure bicycle storage and package-delivery precautions. Note: crime data is aggregated at the neighborhood level; street-level granularity is not available from these sources.

This property presents a generally low overall climate risk profile for urban Portland. The most notable climate concerns are moderate heat risk trajectory (doubling of extreme heat days over 30 years), moderate radon zone classification requiring testing, and the legacy Bullseye Glass industrial air quality issue (now substantially mitigated). Flood, wildfire, wind, and earthquake annual risks are all low to minimal. Prospective buyers should prioritize a radon test, assess the building's cooling capacity, and inquire about seismic retrofit status.

The Richmond neighborhood has been one of Portland's strongest real estate performers. Richmond home prices hit a median of $740,000 in October 2025, up 15.7% year-over-year, dramatically outpacing the citywide average of roughly $529,000-$560,000. Homes in Richmond sell in approximately 19 days on average — faster than the citywide median of 44-73 days — confirming sustained demand for this premium inner SE corridor. Portland's broader market shows modest stability with low inventory (3.3 months of supply), a slight seller's edge, and a price per square foot around $312-$327 citywide. The Richmond premium is well established and reflects the neighborhood's exceptional walkability, school quality, and culinary/retail cachet. Buyers entering this market should be prepared to move decisively, as hot listings in Richmond can go pending in under 8 days with multiple offers.

Richmond/SE Division is one of Portland's premier investment micro-markets. The neighborhood's structural demand drivers — exceptional walkability, top-ranked schools, acclaimed dining and retail — create a durable value proposition. The tract-level median rent of $1,885/month and a neighborhood median home value of $660,900-$740,000 suggest a gross yield in the 3.0-3.4% range for a typical unit, consistent with a high-quality urban appreciation play rather than a cash-flow investment. The 15.7% YoY price appreciation in Richmond (Oct 2025) is exceptional and reflects the neighborhood's premium status. Buyers should focus on long-term appreciation, lifestyle value, and rental fallback yield. Full property-specific financial analysis requires disclosure of unit type, HOA fees, property tax assessed value, and square footage.