Updated Duplex with
For Sale
$540,000
2224 W 13th Ave, Kennewick, WA 99337
Residential Income, Kennewick, WA
Property Size2,820 SF
Lot Size0.23 Acres
Price / SF$191.49
Days on Market88
Property Features for 2224 W 13th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Dining Room, Bathroom 4, Bedroom 3, Bedroom 5, Bathroom 5, Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 2
Parking features
Garage, Open
Window features
Vinyl Frames
Patio and Porch features
Patio
Interior features
Bath Off Primary, Breakfast Bar, Carpets, Kitchen/Dining Room Combo, Drapes/Blinds, Utility Room, Ceiling Fan(s), Garage Door Opener(s), Master Suite
Exterior features
Fencing/Enclosed, Sprinkler System
Fencing
Fenced
Appliances
Microwave, Range/Oven, Refrigerator, Hood/Fan
Subdivision
HARVEYS AD
Lot features
Loc in City Limits
Elementary school district
KENNEWICK
Middle school district
KENNEWICK
High school district
KENNEWICK
Directions
From 395, East on 10th, Right on Vancouver, Right on 13th
Standard status
Active
APN
111892050001002
Size
2,820 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3735
Utilities
Utilities
Electricity Available
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1995
Number of units
2
Flooring type
Carpet
Building materials
T1-11
Roof type
Composition
Listing Agency:
Cari McGee Real Estate Team/Re/Max Northwest
(509) 430-5342
Listed By:
Cari McGee
(150) 943-0534
Added: Jul 10
Changed: Sep 21
Last Checked: Oct 5 at 4:06AM
MLS# 294569
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 2,820-square-foot duplex, built in 1995, includes two residences with each side measuring just over 1,400 square feet. Both units offer a one-car garage, primary suite, breakfast bar, utility room, patio, and fenced outdoor space. Interior updates and newer exterior paint add to the current presentation, while electric heat pumps, multi-unit cooling, and public water serve the property.
Set on a 0.23-acre lot at 2224 W 13th Ave, the property is positioned on a street off Vancouver. The layout accommodates owner occupancy in one residence with the other used as a rental, or rental use across both sides. Appliances include a range/oven, refrigerator, microwave, and hood/fan.
Set on a 0.23-acre lot at 2224 W 13th Ave, the property is positioned on a street off Vancouver. The layout accommodates owner occupancy in one residence with the other used as a rental, or rental use across both sides. Appliances include a range/oven, refrigerator, microwave, and hood/fan.
Key Highlights
- 2,820‑square‑foot duplex on a 0.23‑acre lot
- Each side measures just over 1,400 square feet
- One‑car garage provided for each residence
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
$24,530
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
4.54%
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%
$490,600
$490.6K
Cap Rate 7%
$350,429
$350.4K
Cap Rate 9%
$272,556
$272.6K
Market Conditions
NOI Build-Up for 2,820 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
$38.2K $13.56/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$35.0K $12.43/SF
− OpEx
−$10.5K −$3.73/SF
NOI
$24.5K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$490,600
Cap Rate 7%
$350,429
Cap Rate 9%
$272,556
Alternative Uses
Best Use
Multifamily LT 5
$350.4K
$306.6K – $408.8K
NOI $24,530 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$310.4K
$271.6K – $362.1K
NOI $21,727 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$782.2K
$684.4K – $912.5K
NOI $54,751 @ 7.0% cap · market cap 10.14%
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
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 99337, WA
33,458
Population
11,725
Households
2.9
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
165.9 sq mi
ZIP Area
202
Density / Sq Mi
$90,227
Median Household Income
$49,829
Median Earnings
$1,347
Median Rent
$356,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 updated interiors, private garages, and a fenced yard.
Where is this duplex located?
The property is located at 2224 W 13th Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 2,820‑square‑foot duplex on a 0.23‑acre lot; Each side measures just over 1,400 square feet; One‑car garage provided for each residence
