Two-Unit Duplex with Fenced
11040 N Skagit Street Unit A & B, Burlington, WA 98233
For Sale
$639,000
Pending
Both residences offer three bedrooms, a full kitchen, dedicated laundry space, and an outdoor patio.
Property Size2,448 SF
Days on Market150
Property Features for 11040 N Skagit Street Unit A & B
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
dedicated laundry area
pantry
dining space
full kitchen
outdoor patio
RV parking
electric fireplace
vinyl flooring
Building Details
Building Size
Year Built
Buildings
Listing Agency:
John L. Scott Snohomish
Listed By:
Joey Duwe
(360) 689-9559
Source:
Lapishomesre
Added: Jun 12
Changed: Nov 8
Last Checked: Nov 7 at 9:10PM
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 John L. Scott Snohomish
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Investment Insights
Based on property information with market context.
Built in 1979, this 2,448-square-foot duplex contains two residences, each with three bedrooms and one bathroom. Both include a full kitchen, dining area, pantry, dedicated laundry space, and patio. Separate fenced yards serve the units, and RV parking is available. Recent improvements include a roof replacement, updated kitchens, vinyl flooring, newer appliances, and electric fireplaces; additional trim, paint, and gutter work is underway.
The property sits at the end of a street near a cul-de-sac, with the rear yards bordering Burlington Hill. Flood insurance is not required.
The property sits at the end of a street near a cul-de-sac, with the rear yards bordering Burlington Hill. Flood insurance is not required.
Key Highlights
- 2,448‑square‑foot duplex built in 1979
- Two residences, each with 3 bedrooms and 1 bathroom
- Separate fenced yards, each with an outdoor patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,657
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,140
$373.1K
Cap Rate 7%
$266,529
$266.5K
Cap Rate 9%
$207,300
$207.3K
Market Conditions
NOI Build-Up for 2,448 SF
Gross rent
$27.0K $11.04/SF
− Vacancy
−$373 −$0.15/SF
EGI
$26.7K $10.89/SF
− OpEx
−$8.0K −$3.27/SF
NOI
$18.7K $7.62/SF
Area
Skagit County, WA
Vacancy
1.38%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,140
Cap Rate 7%
$266,529
Cap Rate 9%
$207,300
Alternative Uses
Best Use
Multifamily LT 5
$266.5K
$233.2K – $311.0K
NOI $18,657 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$232.0K
$203.0K – $270.7K
NOI $16,241 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$995.6K
$871.2K – $1.16M
NOI $69,694 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 98233, WA
16,034
Population
7,295
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
90%
High-School Grad
33.2 sq mi
ZIP Area
483
Density / Sq Mi
$83,560
Median Household Income
$43,697
Median Earnings
$1,567
Median Rent
$466,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, a full kitchen, dedicated laundry space, and an outdoor patio.
Where is this duplex located?
The property is located at 11040 N Skagit Street Unit A & B Burlington, WA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 2,448‑square‑foot duplex built in 1979; Two residences, each with 3 bedrooms and 1 bathroom; Separate fenced yards, each with an outdoor patio
