Townhome-Style Duplex on Wooded
For Sale
$725,000
12612 153rd St E, Puyallup, WA 98374
Two spacious units offer private layouts, attached garages, and recent interior and exterior improvements.
Property Size2,650 SF
Lot Size1.25 Acres
Price / SF$273.58
Days on Market42
Property Features for 12612 153rd St E
General Information
Standard status
Active
Size
2,650 SF
Total Parking Spaces
4
Lot size
1.25 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Building Details
Year Built
2003
Listing Agency:
Real Broker LLC
(206) 926-3701
Listed By:
Charles Burnett
Source:
Larissabutlerrealty
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 25 at 4:59AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
Built in 2003, this duplex contains two townhome-style residences with a combined 2,650 square feet. Each unit includes 3 bedrooms, 2.5 baths, and an oversized 2-car garage. The property sits on a 1.25-acre wooded lot, providing a private setting for the two-unit configuration.
Recent work includes a new roof, new siding, exterior paint, updated flooring, appliances, and interior paint in the vacant unit. One residence is currently unoccupied, allowing showings and offering an owner-occupant the option to live in one unit while renting the other. The property is located at 12612 153rd St E in Puyallup, WA 98374.
Recent work includes a new roof, new siding, exterior paint, updated flooring, appliances, and interior paint in the vacant unit. One residence is currently unoccupied, allowing showings and offering an owner-occupant the option to live in one unit while renting the other. The property is located at 12612 153rd St E in Puyallup, WA 98374.
Key Highlights
- Two‑unit duplex with 2,650 square feet
- Each unit has 3 bedrooms and 2.5 baths
- Oversized 2‑car garage for each residence
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
$34,768
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
4.80%
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%
$695,360
$695.4K
Cap Rate 7%
$496,686
$496.7K
Cap Rate 9%
$386,311
$386.3K
Market Conditions
NOI Build-Up for 2,650 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
$53.4K $20.16/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$49.7K $18.74/SF
− OpEx
−$14.9K −$5.62/SF
NOI
$34.8K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /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%
$695,360
Cap Rate 7%
$496,686
Cap Rate 9%
$386,311
Alternative Uses
Best Use
Multifamily LT 5
$496.7K
$434.6K – $579.5K
NOI $34,768 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$458.1K
$400.9K – $534.5K
NOI $32,068 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$715.7K
$626.3K – $835.0K
NOI $50,102 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 98374, WA
45,367
Population
16,645
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$108,854
Median Household Income
$56,744
Median Earnings
$1,925
Median Rent
$491,200
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?
Duplex - Two spacious units offer private layouts, attached garages, and recent interior and exterior improvements.
Where is this duplex located?
The property is located at 12612 153rd St E Puyallup, WA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,650 square feet; Each unit has 3 bedrooms and 2.5 baths; Oversized 2‑car garage for each residence
