Two-Story Duplex with
For Sale
$270,000
200 E 3rd St, Grandview, WA 98930
Residential Income, Grandview, WA
Property Size2,400 SF
Lot Size0.18 Acres
Price / SF$112.50
Days on Market48
Property Features for 200 E 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Window features
Vinyl Frames
Interior features
Carpets
Basement
Unfinished
Appliances
Range/Oven, Refrigerator
Lot features
Loc in City Limits
Elementary school district
Grandview
Middle school district
Grandview
High school district
Grandview
Directions
Use GPS for directions.
Standard status
Active
APN
23092313492
Size
2,400 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2137
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s), Electric
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Wood Siding
Roof type
Shake
Listing Agency:
Zion Properties, LLC
50952156
Listed By:
Susie Rodriguez
(509) 539-3061
Added: Jul 29
Changed: Sep 12
Last Checked: Sep 14 at 1:06PM
MLS# 295071
Copyright © 2026 PACMLS. 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 two-story duplex in Grandview, Washington, contains two residential units and a full basement used for storage. Unit A offers 3 bedrooms, 1 bath, and 1,320 square feet, while Unit B includes 2 bedrooms, 1 bath, and 1,080 square feet. The basement adds 1,080 square feet of storage area. The property requires TLC and includes carpet and laminate flooring, wood siding, shake roofing, and window-unit and electric cooling.
Built in 1920, the property sits on 0.18 acres and has Residential zoning. Interior features include range/oven and refrigerator appliances, with natural gas heating and public water service. The property is located at 200 E 3rd St in Grandview, WA 98930.
Built in 1920, the property sits on 0.18 acres and has Residential zoning. Interior features include range/oven and refrigerator appliances, with natural gas heating and public water service. The property is located at 200 E 3rd St in Grandview, WA 98930.
Key Highlights
- Two‑story duplex with Unit A at 1,320 square feet and Unit B at 1,080 square feet
- Unit A has 3 bedrooms and 1 bath; Unit B has 2 bedrooms and 1 bath
- Basement provides 1,080 square feet of storage space
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
$23,455
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
8.69%
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%
$469,100
$469.1K
Cap Rate 7%
$335,071
$335.1K
Cap Rate 9%
$260,611
$260.6K
Market Conditions
NOI Build-Up for 2,400 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
$45.8K $19.08/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$42.6K $17.77/SF
− OpEx
−$19.2K −$8.00/SF
NOI
$23.5K $9.77/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$469,100
Cap Rate 7%
$335,071
Cap Rate 9%
$260,611
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.1K
NOI $26,946 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$335.1K
$293.2K – $390.9K
NOI $23,455 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$487.4K
$426.5K – $568.6K
NOI $34,117 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 98930, WA
15,339
Population
4,910
Households
3.1
Avg Household Size
30
Median Age
9%
College-Educated
67%
High-School Grad
44.9 sq mi
ZIP Area
342
Density / Sq Mi
$67,798
Median Household Income
$34,675
Median Earnings
$980
Median Rent
$277,600
Median Home Value
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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 residential property with basement storage, natural gas heat, and public water service.
Where is this duplex located?
The property is located at 200 E 3rd St Grandview, WA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑story duplex with Unit A at 1,320 square feet and Unit B at 1,080 square feet; Unit A has 3 bedrooms and 1 bath; Unit B has 2 bedrooms and 1 bath; Basement provides 1,080 square feet of storage space
