Updated Duplex with Hardwood
New
For Sale
$649,900
1068 9TH St, Washougal, WA 98671
MultiFamily, Washougal, WA
Property Size2,144 SF
Price / SF$303.13
Days on Market3
Property Features for 1068 9TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1-7.5
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Elementary school
Hathaway
Middle school
Jemtegaard
High school
Washougal
Directions
From River rd exit off 14 go west on E st to 12th st.noto 1stwest to 9th st and property
Subdivision
_33
Standard status
Active
APN
075358689
Size
2,144 SF
Taxes and HOA fees
Tax Description
MIDLAND ACRES #3 LOT 15 BLOCK 5 FOR ASSESSOR USE ONLY BEGINNING A
Tax Annual Amount
2778
Legal Description
MIDLAND ACRES #3 LOT 15 BLOCK 5 FOR ASSESSOR USE ONLY BEGINNING A
Utilities
Heating system
Heat Pump (Heating), Ductless (Heating)
Cooling system
Central Air
Building Details
Year built
1947
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(360) 693-6139
Listed By:
Steve Lloid
(360) 921-7959
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 8:06PM
MLS# 655646114
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 2,144-square-foot duplex was built in 1947 and includes four bedrooms and three bathrooms. Interior features include hardwood flooring, coved ceilings, and an updated kitchen. The upper level of the main residence also has a full bathroom and a compact cooking area, adding flexibility to the layout.
Heating is provided by a heat pump and ductless systems, while central air serves the property. A composition roof completes the exterior improvements. Zoned R1-7.5, the property offers a configuration that can accommodate living in one side while leasing the other, subject to applicable requirements.
Heating is provided by a heat pump and ductless systems, while central air serves the property. A composition roof completes the exterior improvements. Zoned R1-7.5, the property offers a configuration that can accommodate living in one side while leasing the other, subject to applicable requirements.
Key Highlights
- 2,144 SF duplex built in 1947
- Four bedrooms and three bathrooms
- Updated kitchen with hardwood floors and coved ceilings
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
$27,933
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
4.30%
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%
$558,660
$558.7K
Cap Rate 7%
$399,043
$399.0K
Cap Rate 9%
$310,367
$310.4K
Market Conditions
NOI Build-Up for 2,144 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
$42.5K $19.80/SF
− Vacancy
−$2.5K −$1.19/SF
EGI
$39.9K $18.61/SF
− OpEx
−$12.0K −$5.58/SF
NOI
$27.9K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /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%
$558,660
Cap Rate 7%
$399,043
Cap Rate 9%
$310,367
Alternative Uses
Best Use
Multifamily LT 5
$399.0K
$349.2K – $465.6K
NOI $27,933 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$372.6K
$326.0K – $434.7K
NOI $26,079 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$522.3K
$457.0K – $609.4K
NOI $36,563 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 98671, WA
24,857
Population
9,090
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
94%
High-School Grad
81.1 sq mi
ZIP Area
306
Density / Sq Mi
$104,498
Median Household Income
$51,722
Median Earnings
$1,566
Median Rent
$532,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R1-7.5 zoning, central air, and flexible living arrangements support the property’s two-unit configuration.
Where is this duplex located?
The property is located at 1068 9TH St Washougal, WA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,144 SF duplex built in 1947; Four bedrooms and three bathrooms; Updated kitchen with hardwood floors and coved ceilings
