Two-Unit Duplex with Finished
For Sale
$499,000
1217-1219 McPherson Ave, Richland, WA 99354
Two finished residences provide six bedrooms and a combined two bathrooms.
Property Size3,526 SF
Lot Size0.19 Acres
Price / SF$141.52
Days on Market211
Property Features for 1217-1219 McPherson Ave
General Information
Standard status
Active
Size
3,526 SF
Lot size
0.19 Acres
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,026
Building Details
Building Size
3,526 SF
Year Built
1944
Listing Agency:
HomeSmart Elite Brokers
Listed By:
Trish Rudolph · License #118373
(509) 528-5175
Source:
Desertedgerealtygroup
Added: Apr 7
Changed: Oct 29
Last Checked: Oct 31 at 4:31PM
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 HomeSmart Elite Brokers
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Investment Insights
Based on property information with market context.
This duplex contains 3,526 square feet across two fully finished units. Each residence has a two-story layout and a finished basement that can serve as additional family or flex space. Together, the units offer six bedrooms and two bathrooms. Updated exterior features include siding, a roof, and windows, and the property also has a covered rear patio.
The building sits on a 0.19-acre lot in Central Richland, near schools, parks, and everyday amenities. Built in 1944, it offers two separate residential units with finished lower-level space.
The building sits on a 0.19-acre lot in Central Richland, near schools, parks, and everyday amenities. Built in 1944, it offers two separate residential units with finished lower-level space.
Key Highlights
- Two finished units totaling 3,526 square feet
- Each unit has a two‑story layout and a finished basement
- Combined total of 6 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,671
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,420
$613.4K
Cap Rate 7%
$438,157
$438.2K
Cap Rate 9%
$340,789
$340.8K
Market Conditions
NOI Build-Up for 3,526 SF
Gross rent
$47.8K $13.56/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$43.8K $12.43/SF
− OpEx
−$13.1K −$3.73/SF
NOI
$30.7K $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%
$613,420
Cap Rate 7%
$438,157
Cap Rate 9%
$340,789
Alternative Uses
Best Use
Multifamily LT 5
$438.2K
$383.4K – $511.2K
NOI $30,671 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$388.1K
$339.6K – $452.8K
NOI $27,166 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$978.0K
$855.7K – $1.14M
NOI $68,459 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 99354, WA
24,839
Population
10,807
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,039
Density / Sq Mi
$88,601
Median Household Income
$50,192
Median Earnings
$1,299
Median Rent
$355,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two finished residences provide six bedrooms and a combined two bathrooms.
Where is this duplex located?
The property is located at 1217-1219 McPherson Ave Richland, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two finished units totaling 3,526 square feet; Each unit has a two‑story layout and a finished basement; Combined total of 6 bedrooms and 2 bathrooms
