Townhouse Duplex with
For Sale
$529,000
1331 S Shaker Place, Moses Lake, WA 98837
Two attached units offer private lawn areas, garage parking, and Multi-Family zoning.
Property Size2,832 SF
Days on Market8
Property Features for 1331 S Shaker Place
General Information
Standard status
Active
Size
2,832 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
Multi-Family
Additional Details
Sprinkler System
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,840
Amenities
Cable TV
Fenced-Partially
High Speed Internet
Building Details
Building Size
2,832 SF
Year Built
2001
Buildings
1
Units
2
Listing Agency:
RE/MAX, The Collective
(509) 972-7459
Listed By:
Doug Robins
(509) 972-7459
Source:
Multifamilyspecialist
Added: Aug 11
Changed: Aug 17
Last Checked: Aug 17 at 11:08PM
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 RE/MAX, The Collective
Investment Insights
Based on property information with market context.
Built in 2001, this duplex is configured as two townhouse-style residences. Each unit includes 3 bedrooms and 2.5 baths, along with its own lawn area and a single-car garage. Additional property features include partial fencing and a sprinkler system.
The property is located at 1331 S Shaker Place in Moses Lake, Washington, and is zoned Multi-Family. Cable TV and high-speed internet are also identified among the property features, supporting residential connectivity for both units.
The property is located at 1331 S Shaker Place in Moses Lake, Washington, and is zoned Multi-Family. Cable TV and high-speed internet are also identified among the property features, supporting residential connectivity for both units.
Key Highlights
- Duplex with two townhouse‑style units
- Each unit includes 3 bedrooms and 2.5 baths
- Each side has its own lawn area
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
$24,796
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
4.69%
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%
$495,920
$495.9K
Cap Rate 7%
$354,229
$354.2K
Cap Rate 9%
$275,511
$275.5K
Market Conditions
NOI Build-Up for 2,832 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
$38.7K $13.67/SF
− Vacancy
−$3.3K −$1.16/SF
EGI
$35.4K $12.51/SF
− OpEx
−$10.6K −$3.75/SF
NOI
$24.8K $8.76/SF
Area
Grant County, WA
Vacancy
8.50%
Lease Rate
$13.67 /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%
$495,920
Cap Rate 7%
$354,229
Cap Rate 9%
$275,511
Alternative Uses
Best Use
Multifamily LT 5
$354.2K
$310.0K – $413.3K
NOI $24,796 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$340.3K
$297.7K – $397.0K
NOI $23,819 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$615.2K
$538.3K – $717.8K
NOI $43,065 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Explore this area
Business Placement
Demographics for 98837, WA
46,262
Population
18,651
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
486.2 sq mi
ZIP Area
95
Density / Sq Mi
$70,732
Median Household Income
$44,214
Median Earnings
$1,128
Median Rent
$290,000
Median Home Value
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?
Duplex - Two attached units offer private lawn areas, garage parking, and Multi-Family zoning.
Where is this duplex located?
The property is located at 1331 S Shaker Place Moses Lake, WA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Duplex with two townhouse‑style units; Each unit includes 3 bedrooms and 2.5 baths; Each side has its own lawn area
