Remodeled Duplex with
For Sale
$560,000
18605 NE CRAMER Rd, Battle Ground, WA 98604
MultiFamily, BattleGround, WA
Property Size1,444 SF
Lot Size0.37 Acres
Price / SF$387.81
Days on Market49
Property Features for 18605 NE CRAMER Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC-1
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Elementary school
Maple Grove
Middle school
Daybreak
High school
Prairie
Directions
NE 179th St - Continue to NE Cramer Rd
Subdivision
_62
Standard status
Active
APN
193815000
Size
1,444 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Description
#76 SEC 9 T3N R2EWM .37A FOR ASSESSOR USE ONLY BAAP IN CNTR OF CO
Tax Annual Amount
3349
Legal Description
#76 SEC 9 T3N R2EWM .37A FOR ASSESSOR USE ONLY BAAP IN CNTR OF CO
Utilities
Heating system
Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1938
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Redfin
(360) 558-3945
Listed By:
Frederick Sanchez
(360) 680-1462
Added: Jul 31
Changed: Sep 13
Last Checked: Sep 17 at 3:06PM
MLS# 447458601
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,444 square feet and offers different operating configurations. One side is used as an Airbnb, while the other has a long-term rental history. The units can also support owner occupancy on one side with continued short-term rental use on the other, subject to buyer due diligence and applicable requirements.
Interior improvements completed from 2022 through 2024 include flooring, cabinetry, countertops, stainless appliances, lighting, bathroom fixtures, plumbing, electrical work, and interior paint. The composition roof was replaced in 2022. Exterior siding and paint are identified for 2026. The property includes baseboard heating, window-unit cooling, two bedrooms, and two bathrooms.
Set on a 0.37-acre lot in the Meadow Glade area of BattleGround, the property has extensive on-site parking and RC-1 zoning. The recorded address includes separate unit numbers, 18603 and 18605 NE CRAMER Rd.
Interior improvements completed from 2022 through 2024 include flooring, cabinetry, countertops, stainless appliances, lighting, bathroom fixtures, plumbing, electrical work, and interior paint. The composition roof was replaced in 2022. Exterior siding and paint are identified for 2026. The property includes baseboard heating, window-unit cooling, two bedrooms, and two bathrooms.
Set on a 0.37-acre lot in the Meadow Glade area of BattleGround, the property has extensive on-site parking and RC-1 zoning. The recorded address includes separate unit numbers, 18603 and 18605 NE CRAMER Rd.
Key Highlights
- Two‑unit duplex with 1,444 square feet
- 0.37‑acre lot with extensive on‑site parking
- Airbnb operation on one side and long‑term rental use on the other
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,813
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$376,260
$376.3K
Cap Rate 7%
$268,757
$268.8K
Cap Rate 9%
$209,033
$209.0K
Market Conditions
NOI Build-Up for 1,444 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.6K $19.80/SF
− Vacancy
−$1.7K −$1.19/SF
EGI
$26.9K $18.61/SF
− OpEx
−$8.1K −$5.58/SF
NOI
$18.8K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$376,260
Cap Rate 7%
$268,757
Cap Rate 9%
$209,033
Alternative Uses
Best Use
Multifamily LT 5
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$250.9K
$219.6K – $292.8K
NOI $17,565 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$351.8K
$307.8K – $410.4K
NOI $24,626 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 98604, WA
38,245
Population
13,557
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
72.1 sq mi
ZIP Area
530
Density / Sq Mi
$108,616
Median Household Income
$58,693
Median Earnings
$1,492
Median Rent
$543,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated interiors, flexible occupancy options, and a large lot with extensive on-site parking.
Where is this duplex located?
The property is located at 18605 NE CRAMER Rd Battle Ground, WA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,444 square feet; 0.37‑acre lot with extensive on‑site parking; Airbnb operation on one side and long‑term rental use on the other
