Duplex With Fenced
For Sale
$450,000
2811 CAPLES Ave, Vancouver, WA 98660
MultiFamily, Vancouver, WA
Property Size1,585 SF
Lot Size0.12 Acres
Price / SF$283.91
Days on Market49
Property Features for 2811 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, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Subdivision
Bagley Downs
Elementary school
Roosevelt
Middle school
McLoughlin
High school
Fort Vancouver
Directions
East on E Fourth, North on Caples
Standard status
Active
APN
030251232
Size
1,585 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
LORRIES LOTS LOT 6 FOR ASSESSOR USE ONLY LORRIES LOTS LOT 6
Tax Annual Amount
3668
Legal Description
LORRIES LOTS LOT 6 FOR ASSESSOR USE ONLY LORRIES LOTS LOT 6
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: Aug 19
Last Checked: Sep 2 at 1:06PM
MLS# 385087206
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 residences, each configured with two bedrooms and one bathroom. Both units include a private fenced yard, and the property has newer flooring and a newer composition roof. Baseboard heating serves the building, which was constructed in 1972.
The property occupies 0.12 acres at 2811 CAPLES Ave in Vancouver, Washington, near a community swimming center and park. R-18 zoning applies to the site. Both residences are occupied by the same tenants, who have remained in place for more than three years.
The property occupies 0.12 acres at 2811 CAPLES Ave in Vancouver, Washington, near a community swimming center and park. R-18 zoning applies to the site. Both residences are occupied by the same tenants, who have remained in place for more than three years.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Private fenced yard provided for each residence
- 1585 square feet on a 0.12‑acre lot
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
$21,178
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
4.71%
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%
$423,560
$423.6K
Cap Rate 7%
$302,543
$302.5K
Cap Rate 9%
$235,311
$235.3K
Market Conditions
NOI Build-Up for 1,585 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
$31.8K $20.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$30.3K $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%
$423,560
Cap Rate 7%
$302,543
Cap Rate 9%
$235,311
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $353.0K
NOI $21,178 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$262.6K
$229.8K – $306.4K
NOI $18,385 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$387.8K
$339.3K – $452.4K
NOI $27,146 @ 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 - Two occupied residences offer matching two-bedroom, one-bath layouts with individual outdoor space.
Where is this duplex located?
The property is located at 2811 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 units, each with 2 bedrooms and 1 bathroom; Private fenced yard provided for each residence; 1585 square feet on a 0.12‑acre lot
