Building Details

Year Built 2025

Buildings 1

Listing Agency: Retter And Company Sotheby's

Listed By: Pamela Caldwell Show Phone

Source: Searchresultsrealtygroup

Added: Jul 22 Changed: Sep 17 Last Checked: Sep 16 at 5:54PM

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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 Retter And Company Sotheby's

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Investment Insights

Based on property information with market context.

Completed in 2025, this 2,268-square-foot duplex is identified as two sides, A and B, within one building. Each residence features an open arrangement connecting the great room, kitchen, and dining area. Kitchen finishes include stainless steel appliances, quality cabinetry with soft-close doors and drawers, an island, and a full-height tile backsplash.

An open patio extends the living area outdoors, with access to the yard. The property includes full-yard UGS, full-yard landscaping, and partial vinyl fencing. Upstairs, the residences include a primary bedroom with an en-suite bathroom featuring a walk-in shower, vanity, and walk-in closet, along with two additional bedrooms and a full bathroom.

Key Highlights

• 2025 construction with 2,268 SF across a duplex building
• Two separately identified sides: A and B
• Open‑concept great room, kitchen, and dining areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,728

Cap Rate

2.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$394,560 $394.6K

Cap Rate 7%

$281,829 $281.8K

Cap Rate 9%

$219,200 $219.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,268 SF

Gross rent

$30.8K $13.56/SF

− Vacancy

−$2.6K −$1.13/SF

EGI

$28.2K $12.43/SF

− OpEx

−$8.5K −$3.73/SF

NOI

$19.7K $8.70/SF

Area

Benton County, WA

Vacancy

8.36%

Lease Rate

$13.56 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$394,560

Cap Rate 7%

$281,829

Cap Rate 9%

$219,200

Alternative Uses

Best Use

Multifamily LT 5

$281.8K

$246.6K – $328.8K (±1% cap)

NOI $19,728 @ 7.0% cap · market cap 2.99%

Second Best

Apartment 5plus

$249.6K

$218.4K – $291.2K (±1% cap)

NOI $17,474 @ 7.0% cap · market cap 2.65%

Theoretical Best

Office A

$629.1K

$550.4K – $733.9K (±1% cap)

NOI $44,034 @ 7.0% cap · market cap 6.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

Explore this area Business Placement

Demographics for 99337, WA

33,458

Population

11,725

Households

2.9

Avg Household Size

37

Median Age

29%

College-Educated

87%

High-School Grad

165.9 sq mi

ZIP Area

202

Density / Sq Mi

$90,227

Median Household Income

$49,829

Median Earnings

$1,347

Median Rent

$356,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-story duplex with updated kitchens, private outdoor areas, and landscaped yards with partial vinyl fencing.

Where is this duplex located?

The property is located at 1118 S Underwood Pl Kennewick, WA.

What is the asking price?

The asking price for this property is $659,850.

What are key features of this property?

This property features: 2025 construction with 2,268 SF across a duplex building; Two separately identified sides: A and B; Open‑concept great room, kitchen, and dining areas