Building Details

Year Built 1975

Listing Agency: Abbey Realty Inc

Listed By: Joshua Abbey · License #73788 Show Phone

Source: Chehalisvalleyrealty

Added: Aug 9 Changed: Sep 8 Last Checked: Sep 11 at 3:41PM

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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 Abbey Realty Inc

Investment Insights

Based on property information with market context.

This two-unit duplex has undergone extensive interior updates, including new flooring, cabinets, countertops, plumbing, lighting, and appliances. Each residence includes 1.5 bathrooms, quartz countertops, water-resistant wood laminate flooring, central forced-air heat with heat-pump air conditioning, a hybrid electric hot-water tank, and a ventless heat-pump dryer.

The property is located at 332 S Birch St in McCleary, with stated drive times of approximately 20 minutes to Montesano and 25 minutes to Capital Mall in Olympia. Elma is also described as only minutes away, placing the duplex within reach of several nearby communities.

Key Highlights

• Two‑unit duplex at 332 S Birch St, McCleary, WA
• Both units include 1.5 bathrooms
• New floors, cabinets, countertops, plumbing, lighting, and appliances

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

$15,336

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

3.83%

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%

$306,720 $306.7K

Cap Rate 7%

$219,086 $219.1K

Cap Rate 9%

$170,400 $170.4K

Market Conditions

NOI Build-Up for 1,680 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

$23.2K $13.80/SF

− Vacancy

−$1.3K −$0.76/SF

EGI

$21.9K $13.04/SF

− OpEx

−$6.6K −$3.91/SF

NOI

$15.3K $9.13/SF

Area

Grays Harbor County, WA

Vacancy

5.50%

Lease Rate

$13.80 /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%

$306,720

Cap Rate 7%

$219,086

Cap Rate 9%

$170,400

Alternative Uses

Best Use

Multifamily LT 5

$219.1K

$191.7K – $255.6K (±1% cap)

NOI $15,336 @ 7.0% cap · market cap 3.83%

Second Best

Apartment 5plus

$203.1K

$177.8K – $237.0K (±1% cap)

NOI $14,220 @ 7.0% cap · market cap 3.55%

Theoretical Best

Office A

$463.1K

$405.2K – $540.3K (±1% cap)

NOI $32,417 @ 7.0% cap · market cap 8.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Dental Office Electrical Service Plumbing Service Pharmacy Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

122

Businesses Nearby

Explore this area Business Placement

Demographics for 98557, WA

3,695

Population

1,622

Households

2.3

Avg Household Size

43

Median Age

18%

College-Educated

91%

High-School Grad

35.5 sq mi

ZIP Area

104

Density / Sq Mi

$78,023

Median Household Income

$49,625

Median Earnings

$900

Median Rent

$351,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Renovated residential income property with refreshed interiors, modern appliances, and central heating and cooling.

Where is this duplex located?

The property is located at 332 S Birch St McCleary, WA.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: Two‑unit duplex at 332 S Birch St, McCleary, WA; Both units include 1.5 bathrooms; New floors, cabinets, countertops, plumbing, lighting, and appliances