Duplex with Fenced
For Sale
$559,900
801 NE 104TH Ave, Vancouver, WA 98664
MultiFamily, Vancouver, WA
Property Size1,672 SF
Lot Size0.21 Acres
Price / SF$334.87
Days on Market47
Property Features for 801 NE 104TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-18
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Subdivision
FOREST RIDGE
Elementary school
Marrion
Middle school
Wy East
High school
Mountain View
Directions
West on Se Mill Plain Blvd, Right on Ne 104th Ave, Home is on right hand side
Standard status
Active
APN
110532248
Size
1,672 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
HUDSONS BAY LOT 25 FOR ASSESSOR USE ONLY HUDSONS BAY LOT 25
Tax Annual Amount
4824
Legal Description
HUDSONS BAY LOT 25 FOR ASSESSOR USE ONLY HUDSONS BAY LOT 25
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Roof type
Composition, Shingle
Listing Agency:
Zenith Properties NW, LLC
(360) 696-3111
Listed By:
Jonathan Casares · License #139801
(360) 721-2739
Added: Jul 15
Changed: Aug 21
Last Checked: Aug 30 at 7:06AM
MLS# 476545926
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 1967 duplex contains 1,672 square feet across two residential units, with each unit offering 2 bedrooms and 1 bathroom. Both units have fenced backyards, while newer windows and garage doors provide documented updates. The property sits on a level 0.21-acre lot with a composition and shingle roof. Leasing information extends through Feb 2027 and includes an option to renew.
The property is in Vancouver’s Forest Ridge neighborhood, approximately 9 minutes from PDX International Airport and 3 minutes from PeaceHealth. A major bus line, the Vine, is within a quarter-mile radius. The duplex uses a septic tank and connects to city water, with no sewer fee. There is no HOA, and the site includes more than 100 feet of road frontage.
The property is in Vancouver’s Forest Ridge neighborhood, approximately 9 minutes from PDX International Airport and 3 minutes from PeaceHealth. A major bus line, the Vine, is within a quarter-mile radius. The duplex uses a septic tank and connects to city water, with no sewer fee. There is no HOA, and the site includes more than 100 feet of road frontage.
Key Highlights
- Two‑unit duplex with 1,672 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- 0.21‑acre level lot with 100+ ft road frontage
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
$22,341
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
3.99%
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%
$446,820
$446.8K
Cap Rate 7%
$319,157
$319.2K
Cap Rate 9%
$248,233
$248.2K
Market Conditions
NOI Build-Up for 1,672 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
$33.5K $20.04/SF
− Vacancy
−$1.6K −$0.95/SF
EGI
$31.9K $19.09/SF
− OpEx
−$9.6K −$5.73/SF
NOI
$22.3K $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%
$446,820
Cap Rate 7%
$319,157
Cap Rate 9%
$248,233
Alternative Uses
Best Use
Multifamily LT 5
$319.2K
$279.3K – $372.4K
NOI $22,341 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$277.1K
$242.4K – $323.2K
NOI $19,394 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$409.1K
$358.0K – $477.3K
NOI $28,636 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 98664, WA
24,120
Population
9,656
Households
2.5
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
4,638
Density / Sq Mi
$81,697
Median Household Income
$46,754
Median Earnings
$1,670
Median Rent
$442,300
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-bedroom units feature newer windows, garage doors, and separate fenced outdoor areas.
Where is this duplex located?
The property is located at 801 NE 104TH Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,672 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; 0.21‑acre level lot with 100+ ft road frontage
