Duplex with Bonus
For Sale
$315,000
1143 Cascade Ave 1141, Moses Lake, WA 98837
Two-bedroom units include flexible bonus rooms, kitchen appliances, and on-site parking.
Property Size1,702 SF
Price / SF$185.08
Days on Market23
Property Features for 1143 Cascade Ave 1141
General Information
Standard status
Active
Size
1,702 SF
Property subtype
Multi-Family
Building Details
Year Built
1976
Listing Agency:
Nest Realty Company
(509) 350-4439
Listed By:
Arturo Vela · License #135981
Source:
Nwwashingtonhomesforsale
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 6:04PM
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 Nest Realty Company
Investment Insights
Based on property information with market context.
This duplex, built in 1976, includes two residential units with a two-bedroom, one-bath layout in each. Both units also feature a bonus room that can serve as a third bedroom or office, adding flexibility beyond the primary bedroom configuration. Kitchen appliances are included, and parking is available on the property.
The property is located at 1143 Cascade Ave 1141 in Moses Lake, Washington. Its 1,702 property-size measurement and two-unit configuration provide a compact residential income asset with defined layouts and adaptable additional space.
The property is located at 1143 Cascade Ave 1141 in Moses Lake, Washington. Its 1,702 property-size measurement and two-unit configuration provide a compact residential income asset with defined layouts and adaptable additional space.
Key Highlights
- Two‑unit duplex at 1143 Cascade Ave 1141, Moses Lake, WA 98837
- Each unit includes 2 bedrooms and 1 bath
- Bonus room in each unit can function as a 3rd bedroom or office
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
$14,902
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
4.73%
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%
$298,040
$298.0K
Cap Rate 7%
$212,886
$212.9K
Cap Rate 9%
$165,578
$165.6K
Market Conditions
NOI Build-Up for 1,702 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
$23.3K $13.67/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$21.3K $12.51/SF
− OpEx
−$6.4K −$3.75/SF
NOI
$14.9K $8.76/SF
Area
Grant County, WA
Vacancy
8.50%
Lease Rate
$13.67 /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%
$298,040
Cap Rate 7%
$212,886
Cap Rate 9%
$165,578
Alternative Uses
Best Use
Multifamily LT 5
$212.9K
$186.3K – $248.4K
NOI $14,902 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$204.5K
$178.9K – $238.6K
NOI $14,315 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$369.7K
$323.5K – $431.4K
NOI $25,881 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 98837, WA
46,262
Population
18,651
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
486.2 sq mi
ZIP Area
95
Density / Sq Mi
$70,732
Median Household Income
$44,214
Median Earnings
$1,128
Median Rent
$290,000
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-bedroom units include flexible bonus rooms, kitchen appliances, and on-site parking.
Where is this duplex located?
The property is located at 1143 Cascade Ave 1141 Moses Lake, WA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑unit duplex at 1143 Cascade Ave 1141, Moses Lake, WA 98837; Each unit includes 2 bedrooms and 1 bath; Bonus room in each unit can function as a 3rd bedroom or office
