Updated Duplex with Attached
For Sale
$950,000
12915 14TH, Everett, WA 98208
Separate utility metering and tenant-paid services support straightforward property operations.
Property Size2,472 SF
Price / SF$384.30
Days on Market136
Property Features for 12915 14TH
General Information
Standard status
Active
Size
2,472 SF
Total Parking Spaces
2
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2008
Buildings
1
Listing Agency:
Windermere R.E. Shoreline
Listed By:
Clint Kinzel
(425) 205-2135
Source:
Skylineproperties
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 30 at 12:07AM
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 Windermere R.E. Shoreline
Investment Insights
Based on property information with market context.
Built in 2008, this duplex contains two mirrored residences with three bedrooms and 2.5 bathrooms per unit. Both layouts include living and dining areas, private decks, kitchens with substantial storage, and primary suites with vaulted ceilings, walk-in closets, and private bathrooms. Each residence also has an attached garage.
Water, sewer, gas, and electric service are separately metered for each unit, with tenants responsible for all utilities. The property is professionally managed and described as well maintained. Located in Everett’s Silver Lake area, the duplex is near Mill Creek, commuter routes, parks, schools, and Paine Field Airport.
Water, sewer, gas, and electric service are separately metered for each unit, with tenants responsible for all utilities. The property is professionally managed and described as well maintained. Located in Everett’s Silver Lake area, the duplex is near Mill Creek, commuter routes, parks, schools, and Paine Field Airport.
Key Highlights
- Two‑unit duplex with 2,472 SF property size
- Each unit offers 3 bedrooms and 2.5 bathrooms
- Attached garage parking provided 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
$40,916
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
4.31%
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%
$818,320
$818.3K
Cap Rate 7%
$584,514
$584.5K
Cap Rate 9%
$454,622
$454.6K
Market Conditions
NOI Build-Up for 2,472 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
$62.3K $25.20/SF
− Vacancy
−$3.8K −$1.55/SF
EGI
$58.5K $23.65/SF
− OpEx
−$17.5K −$7.09/SF
NOI
$40.9K $16.55/SF
Area
Everett, WA
Vacancy
6.17%
Lease Rate
$25.20 /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%
$818,320
Cap Rate 7%
$584,514
Cap Rate 9%
$454,622
Alternative Uses
Best Use
Multifamily LT 5
$584.5K
$511.5K – $681.9K
NOI $40,916 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$523.0K
$457.6K – $610.2K
NOI $36,611 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$818.3K
$716.0K – $954.6K
NOI $57,278 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 98208, WA
60,019
Population
22,534
Households
2.7
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
15.2 sq mi
ZIP Area
3,949
Density / Sq Mi
$102,546
Median Household Income
$53,626
Median Earnings
$1,859
Median Rent
$641,300
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 - Separate utility metering and tenant-paid services support straightforward property operations.
Where is this duplex located?
The property is located at 12915 14TH Everett, WA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,472 SF property size; Each unit offers 3 bedrooms and 2.5 bathrooms; Attached garage parking provided for each residence
