Leased Duplex with Private
New
For Sale
$999,900
11243 30th St NE, Lake Stevens, WA 98258
Two three-bedroom residences include garages, bonus rooms, fenced outdoor areas, and tenant-paid utilities.
Property Size3,012 SF
Price / SF$331.97
Days on Market3
Property Features for 11243 30th St NE
General Information
Standard status
Active
Size
3,012 SF
Property subtype
Multi-Family
Net Operating Income
$49,609
Financials
Asking Price
$999,000
Cap Rate
4.9%
Gross Income
$59,940
Average Monthly Rent
$2,497
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
gas fireplace
gas cooking/heat
fully fenced private yards
Building Details
Year Built
2010
Buildings
1
Listed By:
Realtrua
(425) 941-2091
Source:
Realtrua
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 8:57AM
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 Realtrua
Investment Insights
Based on property information with market context.
This 3,012-square-foot duplex, built in 2010, contains two leased residences with three bedrooms and 2.5 baths per unit. Both floorplans include a bonus room, generous dining area, gas fireplace, gas cooking and heating, a two-car garage, and additional off-street parking. Each residence also has a large, level, fully fenced private yard. HardiePlank siding and recently refreshed exterior paint serve the building. Unit A has bamboo flooring and stainless steel appliances, while Unit B includes LVP flooring, white appliances, and a new cooktop. Tenants pay all utilities.
The property is in the Lake Stevens School District, within walking distance of the high school and convenient to Hwy 9. Located at 11243 30th St NE in Lake Stevens, the duplex combines separate garage parking, substantial outdoor space, and established occupancy in a residential income property.
The property is in the Lake Stevens School District, within walking distance of the high school and convenient to Hwy 9. Located at 11243 30th St NE in Lake Stevens, the duplex combines separate garage parking, substantial outdoor space, and established occupancy in a residential income property.
Key Highlights
- Two leased units, each with 3 beds and 2.5 baths
- 3,012 SF duplex built in 2010
- Each unit includes a bonus room, gas fireplace, gas cooking and heat, and 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
$50,209
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
5.02%
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%
$1,004,180
$1.0M
Cap Rate 7%
$717,271
$717.3K
Cap Rate 9%
$557,878
$557.9K
Market Conditions
NOI Build-Up for 3,012 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
$75.9K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$71.7K $23.81/SF
− OpEx
−$21.5K −$7.14/SF
NOI
$50.2K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,004,180
Cap Rate 7%
$717,271
Cap Rate 9%
$557,878
Alternative Uses
Best Use
Multifamily LT 5
$717.3K
$627.6K – $836.8K
NOI $50,209 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$643.6K
$563.1K – $750.9K
NOI $45,051 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$840.0K
$735.0K – $980.0K
NOI $58,800 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 98258, WA
51,995
Population
18,397
Households
2.8
Avg Household Size
36
Median Age
32%
College-Educated
94%
High-School Grad
37.1 sq mi
ZIP Area
1,401
Density / Sq Mi
$120,571
Median Household Income
$63,208
Median Earnings
$2,187
Median Rent
$606,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two three-bedroom residences include garages, bonus rooms, fenced outdoor areas, and tenant-paid utilities.
Where is this duplex located?
The property is located at 11243 30th St NE Lake Stevens, WA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two leased units, each with 3 beds and 2.5 baths; 3,012 SF duplex built in 2010; Each unit includes a bonus room, gas fireplace, gas cooking and heat, and a 2‑car garage
