Vintage Duplex with Private
For Sale
$729,000
117 W 31st St, Vancouver, WA 98660
Two mirrored units feature hardwood floors, updated bathrooms, functional kitchens, and separate outdoor areas.
Property Size2,894 SF
Price / SF$251.90
Days on Market115
Property Features for 117 W 31st St
General Information
Standard status
Active
Size
2,894 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Cano Real Estate LLC
Listed By:
Nathan Cano admin@canorealestate.com
Source:
Portlandorhomelistings
Added: Jun 26
Changed: Oct 10
Last Checked: Oct 16 at 9:33AM
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 Cano Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 1940, this 2894-square-foot duplex at 117 W 31st St, Vancouver, WA 98660 contains two mirrored units with distinct private access. Original character includes hardwood flooring, archways, built-in features, picture rails, and multi-pane French windows. Each residence has a main-level primary bedroom, remodeled bathroom, multiple closets, and a kitchen equipped with new refrigerators, substantial storage, and ample counter space.
The lower levels add a large non-conforming bedroom, walk-in closet, washer/dryer hookups, and storage for each unit. One basement is plumbed for a sink and toilet, while the other has an existing sink. Both units have private backyards with patio areas, alley access, and an electrically powered single-car garage. The property is near bus lines, schools, shopping, medical offices, restaurants, grocery stores, and Carter Park.
The lower levels add a large non-conforming bedroom, walk-in closet, washer/dryer hookups, and storage for each unit. One basement is plumbed for a sink and toilet, while the other has an existing sink. Both units have private backyards with patio areas, alley access, and an electrically powered single-car garage. The property is near bus lines, schools, shopping, medical offices, restaurants, grocery stores, and Carter Park.
Key Highlights
- Two‑unit duplex with 2894 square feet, built in 1940
- Hardwood floors, archways, built‑ins, picture rails, and French multi‑pane windows
- Each unit includes a main‑level primary bedroom and remodeled bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,669
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,380
$773.4K
Cap Rate 7%
$552,414
$552.4K
Cap Rate 9%
$429,656
$429.7K
Market Conditions
NOI Build-Up for 2,894 SF
Gross rent
$58.0K $20.04/SF
− Vacancy
−$2.8K −$0.95/SF
EGI
$55.2K $19.09/SF
− OpEx
−$16.6K −$5.73/SF
NOI
$38.7K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,380
Cap Rate 7%
$552,414
Cap Rate 9%
$429,656
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.4K – $644.5K
NOI $38,669 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$479.6K
$419.6K – $559.5K
NOI $33,569 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$708.1K
$619.6K – $826.1K
NOI $49,566 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,414
Businesses Nearby
Explore this area
Business Placement
Demographics for 98660, WA
12,735
Population
7,048
Households
1.8
Avg Household Size
39
Median Age
38%
College-Educated
91%
High-School Grad
15.3 sq mi
ZIP Area
832
Density / Sq Mi
$65,147
Median Household Income
$51,895
Median Earnings
$1,408
Median Rent
$444,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored units feature hardwood floors, updated bathrooms, functional kitchens, and separate outdoor areas.
Where is this duplex located?
The property is located at 117 W 31st St Vancouver, WA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Two‑unit duplex with 2894 square feet, built in 1940; Hardwood floors, archways, built‑ins, picture rails, and French multi‑pane windows; Each unit includes a main‑level primary bedroom and remodeled bathroom
