Newly Built Duplex With Fenced
For Sale
$560,000
506 N Kent Place, Kennewick, WA 99336
Residential Income, Kennewick, WA
Property Size2,038 SF
Lot Size0.16 Acres
Price / SF$274.78
Days on Market40
Property Features for 506 N Kent Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
MULTI-FAMILY RE
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Dining Room, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Off Street
Window features
Vinyl Frames, Double Pane Windows
Patio and Porch features
Patio
Interior features
Kitchen/Dining Room Combo, New Floor Cover, New Paint, Vinyl
Exterior features
Fencing/Enclosed
Fencing
Fenced
Basement
Crawl Space
Appliances
Dishwasher, Disposal, Microwave, Range/Oven
Subdivision
GARBERS GD
Lot features
Loc in City Limits
Elementary school district
KENNEWICK
Middle school district
KENNEWICK
High school district
KENNEWICK
Directions
Take Columbia Drive and turn away from the river on Kent Place.
Standard status
Active
APN
136993070000005
Size
2,038 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1351
Utilities
Utilities
Electricity Available
Heating system
Heat Pump (Heating), Forced Air, Electric (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Amenities
quartz countertops
durable LVP flooring
modern finishes
fenced yard
Building Details
Year built
2026
Number of units
2
Flooring type
New floor cover, Vinyl
Building materials
Cement Board, New Construction, Frame
Roof type
Composition
Listing Agency:
Retter and Company Sotheby's · Sotheby's International Realty
(509) 783-8811
Listed By:
Monroe Davis
(509) 528-2178
Added: Aug 6
Changed: Sep 12
Last Checked: Sep 14 at 2:06AM
MLS# 295337
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 2,038-square-foot duplex contains two single-level residences, each with approximately 1,017 square feet, three bedrooms, and one bathroom. Interior details include quartz countertops, vinyl flooring, combined kitchen and dining areas, dishwashers, disposals, microwaves, and range/ovens. Each unit also includes a patio and fenced yard space, while off-street parking serves the property. Heating and cooling are provided by electric heat pumps with forced-air delivery and central air. The building was constructed in 2026 with cement board and frame materials and has a composition roof.
Both residences are currently leased. The property is zoned MULTI-FAMILY RE and sits on a 0.16-acre lot with public water and electricity available. Its duplex layout supports continued rental use, with potential owner-occupancy flexibility as lease terms change.
Both residences are currently leased. The property is zoned MULTI-FAMILY RE and sits on a 0.16-acre lot with public water and electricity available. Its duplex layout supports continued rental use, with potential owner-occupancy flexibility as lease terms change.
Key Highlights
- Duplex totals 2,038 square feet with two single‑level residences
- Each residence measures approximately 1,017 square feet with 3 bedrooms and 1 bathroom
- Both units are currently leased
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
$17,727
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
3.17%
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%
$354,540
$354.5K
Cap Rate 7%
$253,243
$253.2K
Cap Rate 9%
$196,967
$197.0K
Market Conditions
NOI Build-Up for 2,038 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
$27.6K $13.56/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$25.3K $12.43/SF
− OpEx
−$7.6K −$3.73/SF
NOI
$17.7K $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%
$354,540
Cap Rate 7%
$253,243
Cap Rate 9%
$196,967
Alternative Uses
Best Use
Multifamily LT 5
$253.2K
$221.6K – $295.5K
NOI $17,727 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$224.3K
$196.3K – $261.7K
NOI $15,702 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$565.3K
$494.6K – $659.5K
NOI $39,569 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
Median Home Value
Check the figures for this property
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 single-level residences offer modern finishes, private fenced outdoor areas, and current leases in a multifamily configuration.
Where is this duplex located?
The property is located at 506 N Kent Place Kennewick, WA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Duplex totals 2,038 square feet with two single‑level residences; Each residence measures approximately 1,017 square feet with 3 bedrooms and 1 bathroom; Both units are currently leased
