Duplex with Fenced
For Sale
$450,000
2807 CAPLES Ave, Vancouver, WA 98660
MultiFamily, Vancouver, WA
Property Size1,584 SF
Lot Size0.13 Acres
Price / SF$284.09
Days on Market49
Property Features for 2807 CAPLES Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-18
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4
Subdivision
Vancouver
Elementary school
Roosevelt
Middle school
McLoughlin
High school
Fort Vancouver
Directions
East on E Fourth Plain, North on Caples
Standard status
Active
APN
030251230
Size
1,584 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
LORRIES LOTS LOT 5 FOR ASSESSOR USE ONLY LORRIES LOTS LOT 5
Tax Annual Amount
3668
Legal Description
LORRIES LOTS LOT 5 FOR ASSESSOR USE ONLY LORRIES LOTS LOT 5
Utilities
Heating system
Baseboard
Building Details
Year built
1972
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
Coldwell Banker United Brokers · Coldwell Banker Real Estate
(360) 687-3183
Listed By:
Matthew Bailey
(503) 810-1769
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 2 at 3:06PM
MLS# 187360684
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 1,584-square-foot duplex contains two units, each configured with 2 bedrooms and 1 bath. Both residences include private fenced yards, newer flooring, and composition roofing. The property was built in 1972 and uses baseboard heating, with R-18 zoning supporting its residential configuration.
Located in Vancouver, the property is near a community swimming center and park. Both units are occupied by the same tenants, who have each remained in place for more than 3 years.
Located in Vancouver, the property is near a community swimming center and park. Both units are occupied by the same tenants, who have each remained in place for more than 3 years.
Key Highlights
- Two‑unit duplex with 1,584 square feet of property size
- Each unit includes 2 bedrooms and 1 bath
- Private fenced yard for both units
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
$21,165
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
4.70%
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%
$423,300
$423.3K
Cap Rate 7%
$302,357
$302.4K
Cap Rate 9%
$235,167
$235.2K
Market Conditions
NOI Build-Up for 1,584 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
$31.7K $20.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$30.2K $19.09/SF
− OpEx
−$9.1K −$5.73/SF
NOI
$21.2K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$423,300
Cap Rate 7%
$302,357
Cap Rate 9%
$235,167
Alternative Uses
Best Use
Multifamily LT 5
$302.4K
$264.6K – $352.8K
NOI $21,165 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$262.5K
$229.7K – $306.2K
NOI $18,374 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$387.6K
$339.1K – $452.2K
NOI $27,129 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 98660, WA
12,735
Population
7,048
Households
1.8
Avg Household Size
39
Median Age
38%
College-Educated
91%
High-School Grad
15.3 sq mi
ZIP Area
832
Density / Sq Mi
$65,147
Median Household Income
$51,895
Median Earnings
$1,408
Median Rent
$444,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Occupied two-bedroom units offer private outdoor space and updated flooring in a residential setting.
Where is this duplex located?
The property is located at 2807 CAPLES Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,584 square feet of property size; Each unit includes 2 bedrooms and 1 bath; Private fenced yard for both units
