Vancouver WA Courtyard
For Sale
$214,900
5304 NE 84TH LOOP #16, Vancouver, WA 98662
2 Bed, 1.5 Bath condo in Vancouver, move-in ready.
Property Size1,040 SF
Price / SF$206.63
Days on Market507
Property Features for 5304 NE 84TH LOOP #16
General Information
Standard status
Active
Size
1,040 SF
Property subtype
Condominium
Amenities
Security System
Exhaust Fan
Wall Heater
Window Unit
Zoned
Dishwasher
Free-Standing Range
Free-Standing Refrigerator
Microwave
Stainless Steel Appliance
Patio, Porch, Composition
Building Details
Building Size
1,040 SF
Year Built
1983
Stories
2
Listing Agency:
(360) 989-4930
Listed By:
Wolfgang Schneider · License #21025385
(360) 989-4930
Source:
Kw
Added: Apr 1, 2025
Changed: Aug 8
Last Checked: Aug 18 at 10:41PM
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 Wolfgang Schneider
Investment Insights
Based on property information with market context.
This Vancouver, WA condominium features 2 bedrooms and 1.5 bathrooms. The residence offers luxury vinyl plank flooring on the main level and carpets upstairs. Stainless steel appliances are included. The property is gated and includes dedicated parking and an oversized 1-car garage. HOA living provides lawn care and designated parking. The property is located minutes from Vancouver Mall with easy access to SR-500/I-205.
Key Highlights
- Unmatched location: Minutes from Vancouver Mall with easy access to SR‑500/I‑205 for seamless commutes.
- Gated property with dedicated parking and oversized 1‑car garage.
- Move‑in ready condition with luxury vinyl plank flooring on the main level and plush carpets upstairs.
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
$12,063
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
5.61%
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%
$241,260
$241.3K
Cap Rate 7%
$172,329
$172.3K
Cap Rate 9%
$134,033
$134.0K
Market Conditions
NOI Build-Up for 1,040 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
$23.1K $22.20/SF
− Vacancy
−$1.2K −$1.11/SF
EGI
$21.9K $21.09/SF
− OpEx
−$9.9K −$9.49/SF
NOI
$12.1K $11.60/SF
Area
Vancouver, WA
Vacancy
5.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
45.00%
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%
$241,260
Cap Rate 7%
$172,329
Cap Rate 9%
$134,033
Alternative Uses
Best Use
Apartment 5plus
$172.3K
$150.8K – $201.1K
NOI $12,063 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$254.5K
$222.7K – $296.9K
NOI $17,812 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 98662, WA
37,134
Population
14,609
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
2,856
Density / Sq Mi
$91,883
Median Household Income
$45,847
Median Earnings
$1,685
Median Rent
$424,200
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?
Multifamily property - 2 Bed, 1.5 Bath condo in Vancouver, move-in ready.
Where is this multifamily property located?
The property is located at 5304 NE 84TH LOOP #16 Vancouver, WA.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Unmatched location: Minutes from Vancouver Mall with easy access to SR‑500/I‑205 for seamless commutes.; Gated property with dedicated parking and oversized 1‑car garage.; Move‑in ready condition with luxury vinyl plank flooring on the main level and plush carpets upstairs.
