Two-Unit Duplex with
New
For Sale
$690,000
10910 10912 Fruitland Avenue E, Puyallup, WA 98373
Both residences offer matching layouts, private garages, and access to Puyallup amenities and major freeways.
Property Size2,276 SF
Price / SF$303.16
Days on Market2
Property Features for 10910 10912 Fruitland Avenue E
General Information
Standard status
Active
Size
2,276 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fully fenced backyard
Cable Ready
Forced Air
See Remarks
Composition
Building Details
Year Built
1998
Buildings
1
Stories
2
Listing Agency:
KELLER WILLIAMS REALTY PS
(253) 370-1068
Listed By:
Mark Van Antwerp · License #83852
(253) 370-1068
Source:
Kw
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 3:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY PS
Investment Insights
Based on property information with market context.
This duplex contains 2,276 square feet arranged as two residences. Each unit includes two bedrooms, one and a half bathrooms, a two-car garage, and access to a large fully fenced backyard. The property was built in 1998 and includes forced-air heating, cable-ready service, and composition roofing.
Located at 10910 10912 Fruitland Avenue E in Puyallup, the property provides convenient access to area freeways and downtown Puyallup. Nearby community destinations identified for the property include the farmers market, Music in the Park, the Puyallup School District, and Costco.
Located at 10910 10912 Fruitland Avenue E in Puyallup, the property provides convenient access to area freeways and downtown Puyallup. Nearby community destinations identified for the property include the farmers market, Music in the Park, the Puyallup School District, and Costco.
Key Highlights
- 2,276‑square‑foot duplex built in 1998
- Two residences, each with 2 bedrooms and 1.5 bathrooms
- Each unit includes a 2‑car garage
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
$29,861
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
4.33%
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%
$597,220
$597.2K
Cap Rate 7%
$426,586
$426.6K
Cap Rate 9%
$331,789
$331.8K
Market Conditions
NOI Build-Up for 2,276 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
$45.9K $20.16/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$42.7K $18.74/SF
− OpEx
−$12.8K −$5.62/SF
NOI
$29.9K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /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%
$597,220
Cap Rate 7%
$426,586
Cap Rate 9%
$331,789
Alternative Uses
Best Use
Multifamily LT 5
$426.6K
$373.3K – $497.7K
NOI $29,861 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$393.5K
$344.3K – $459.0K
NOI $27,542 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$614.7K
$537.9K – $717.2K
NOI $43,031 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 98373, WA
28,165
Population
11,113
Households
2.5
Avg Household Size
35
Median Age
26%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
2,996
Density / Sq Mi
$102,791
Median Household Income
$51,865
Median Earnings
$1,823
Median Rent
$517,600
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 - Both residences offer matching layouts, private garages, and access to Puyallup amenities and major freeways.
Where is this duplex located?
The property is located at 10910 10912 Fruitland Avenue E Puyallup, WA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: 2,276‑square‑foot duplex built in 1998; Two residences, each with 2 bedrooms and 1.5 bathrooms; Each unit includes a 2‑car garage
