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    Profitable Davenport Fourplex with Updates Title is generated by Realmo AI

    401 4th St, Davenport, WA 99122

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    For Sale
    $489,900

    MULTI_FAMILY - Davenport, WA

    Property size:
    3,087 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $158/SF
    Added:
    Jan 2, 2026
    Days on Market:
    145
    Last Refresh:
    May 27 at 11:06 pm

    Property Features for 401 4th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    5
    Rooms
    Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 5, Bathroom 1, Bedroom 6
    Parking features
    Offsite, RV, Driveway
    Interior features
    Hot Water
    Basement
    Walk-Out Access, Partially Finished
    Appliances
    Free-Standing Range, Refrigerator
    Standard status
    Active
    APN
    0306084001000
    Size
    3,087 SF
    Lot size
    0.34 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas, Electric (Heating)
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1900
    Number of units
    4
    Building materials
    Steel Frame, Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Kimberly Dailey
    Kimberly Dailey

    Listing agent Kimberly Dailey

    Listing office John L Scott, Inc. 1500 W 4TH AVE STE 202, Spokane, WA

    Listing date Jan 2, 2026

    MLS# 202610183 Listing URL

    Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑performing 4‑plex boasting an impressive 8.53% CAP rate and $60,600 gross annual income.
    • Short Term Seller Carry Option available.
    • Updated electrical systems and individual gas or electric heat for each unit.
    • Versatile 2‑car garage for supplemental rental income, plus RV and off‑street parking.
    • Spacious corner lot within walking distance of downtown Davenport and local schools.
    • Simplified management structure with all‑inclusive rents for all units.

    Overview

    This fourplex represents a low-maintenance addition to any portfolio, offering an 8.53% cap rate. Key capital improvements include updated electrical systems and individual gas or electric heat sources for all four units. Situated on a spacious corner lot of 0.34 acres, the property is located a short distance from downtown Davenport and local schools. The property offers versatility with a 2-car garage, suitable for supplemental rental income, along with RV and off-street parking. Outdoor amenities include an oversized green space, a community garden, and a fire-pit. The property consists of 3087 square feet. The unit mix includes one 2-bedroom, 2-bathroom unit, one 2-bedroom, 1-bathroom unit, and two 1-bedroom, 1-bathroom units. All units currently feature all-inclusive rents. The cap rate is based on verified 2025 expense data and $60,600 in gross annual income. Showings are subject to an accepted offer to respect tenant privacy. The property is located in Davenport, WA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Lincoln
    State
    Washington
    Longitude
    -118.146943
    Latitude
    47.654688

    FAQs

    What type of property is this?
    Quadplex - Updated fourplex near downtown Davenport with strong income potential.
    Where is this quadplex located?
    The property is located at 401 4th St Davenport, WA.
    What is the asking price?
    The asking price for this property is $489,900.
    What are key features of this property?
    This property features: High‑performing 4‑plex boasting an impressive 8.53% CAP rate and $60,600 gross annual income.; Short Term Seller Carry Option available.; Updated electrical systems and individual gas or electric heat for each unit.
    (509) 455-8600
    We can help!
    Listing Contact
    Kimberly Dailey
    Kimberly Dailey
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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