Two-Unit Duplex with
For Sale
$500,000
1110 S 25th St, Tacoma, WA 98405
Two-unit residential property with a leased upper residence, updated lower-level space, and shared outdoor areas.
Property Size1,870 SF
Price / SF$267.38
Days on Market65
Property Features for 1110 S 25th St
General Information
Standard status
Active
Size
1,870 SF
Property subtype
Multi-Family
Building Details
Year Built
1917
Listing Agency:
Keller Williams Realty PS
(253) 835-4500
Listed By:
Anna McClusky · License #27994
Source:
Nwwashingtonhomesforsale
Added: Jun 29
Changed: Aug 31
Last Checked: Aug 31 at 5:45PM
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.
Built in 1917, this duplex contains two separate residences with distinct configurations. Unit A spans two stories and offers three bedrooms, one bathroom, a full kitchen, in-unit washer and dryer, and a covered front porch. Unit B occupies the lower level and includes two bedrooms and one bathroom following recent updates.
The property provides three off-street parking spaces, with additional street parking available. Residents also have access to a shared garden area and outdoor space on the lot. Located on S 25th St in Tacoma, the property combines established residential construction with separate living areas and practical site amenities.
The property provides three off-street parking spaces, with additional street parking available. Residents also have access to a shared garden area and outdoor space on the lot. Located on S 25th St in Tacoma, the property combines established residential construction with separate living areas and practical site amenities.
Key Highlights
- Two‑unit duplex built in 1917
- Unit A: 3 bedrooms, 1 bathroom, two stories, full kitchen, and in‑unit W/D
- Unit B: 2 bedrooms and 1 bathroom on the lower level; recently updated
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
$24,638
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
4.93%
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%
$492,760
$492.8K
Cap Rate 7%
$351,971
$352.0K
Cap Rate 9%
$273,756
$273.8K
Market Conditions
NOI Build-Up for 1,870 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
$37.0K $19.80/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$35.2K $18.82/SF
− OpEx
−$10.6K −$5.65/SF
NOI
$24.6K $13.18/SF
Area
Tacoma, WA
Vacancy
4.94%
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%
$492,760
Cap Rate 7%
$351,971
Cap Rate 9%
$273,756
Alternative Uses
Best Use
Multifamily LT 5
$352.0K
$308.0K – $410.6K
NOI $24,638 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$305.9K
$267.6K – $356.9K
NOI $21,411 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$574.8K
$502.9K – $670.6K
NOI $40,235 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,741
Businesses Nearby
Explore this area
Business Placement
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
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-unit residential property with a leased upper residence, updated lower-level space, and shared outdoor areas.
Where is this duplex located?
The property is located at 1110 S 25th St Tacoma, WA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1917; Unit A: 3 bedrooms, 1 bathroom, two stories, full kitchen, and in‑unit W/D; Unit B: 2 bedrooms and 1 bathroom on the lower level; recently updated
