Four-Unit
For Sale
$850,000
124 Mitchell, Sumas, WA 98295
Each residence includes a private backyard and dedicated on-site parking.
Property Size3,024 SF
Price / SF$281.08
Days on Market150
Property Features for 124 Mitchell
General Information
Standard status
Active
Size
3,024 SF
Property subtype
Multi-family
Amenities
private backyard
Building Details
Year Built
1955
Tenancy
Multi
Listing Agency:
Roma Management LLC
Listed By:
Rebecca A. Murphy
(360) 815-7239
Source:
Skylineproperties
Added: Apr 17
Changed: Sep 13
Last Checked: Sep 13 at 9:17AM
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 Roma Management LLC
Investment Insights
Based on property information with market context.
This quadplex contains four two-bedroom, one-bathroom residences, with each unit offering a large private backyard and two parking spaces. One unit is vacant and identified as ready for renovation, while the remaining three units provide rental income. The layout supports both residential occupancy and an owner-occupant arrangement with additional income from the other units.
The property is located at 124 Mitchell St in Sumas, Washington. Sumas Elementary, Edaleens Ice Cream, and a grocery store are within walking distance, with the grocery store located around the corner. The availability of one vacant unit provides a defined renovation component within the existing four-unit configuration.
The property is located at 124 Mitchell St in Sumas, Washington. Sumas Elementary, Edaleens Ice Cream, and a grocery store are within walking distance, with the grocery store located around the corner. The availability of one vacant unit provides a defined renovation component within the existing four-unit configuration.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units
- Each unit includes a large private backyard
- Two parking spaces provided per unit
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
$35,175
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
4.14%
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%
$703,500
$703.5K
Cap Rate 7%
$502,500
$502.5K
Cap Rate 9%
$390,833
$390.8K
Market Conditions
NOI Build-Up for 3,024 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
$52.6K $17.40/SF
− Vacancy
−$2.4K −$0.78/SF
EGI
$50.2K $16.62/SF
− OpEx
−$15.1K −$4.99/SF
NOI
$35.2K $11.63/SF
Area
Whatcom County, WA
Vacancy
4.50%
Lease Rate
$17.40 /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%
$703,500
Cap Rate 7%
$502,500
Cap Rate 9%
$390,833
Alternative Uses
Best Use
Multifamily LT 5
$502.5K
$439.7K – $586.3K
NOI $35,175 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$465.3K
$407.2K – $542.9K
NOI $32,572 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$713.4K
$624.2K – $832.3K
NOI $49,937 @ 7.0% cap · market cap 5.87%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 98295, WA
2,899
Population
1,181
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
88%
High-School Grad
31.3 sq mi
ZIP Area
93
Density / Sq Mi
$96,337
Median Household Income
$52,830
Median Earnings
$1,341
Median Rent
$408,000
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?
Quadplex - Each residence includes a private backyard and dedicated on-site parking.
Where is this quadplex located?
The property is located at 124 Mitchell Sumas, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bathroom units; Each unit includes a large private backyard; Two parking spaces provided per unit
