Updated Duplex with
For Sale
$749,900
1360 Florence St, Enumclaw, WA 98022
Two residences feature practical layouts, private fenced yard areas, and recent exterior improvements.
Property Size2,670 SF
Price / SF$280.86
Days on Market8
Property Features for 1360 Florence St
General Information
Standard status
Active
Size
2,670 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,997
Amenities
fenced yard
Building Details
Buildings
1
Listing Agency:
KW Mountains to Sound Realty
Listed By:
Tom Kittelman · License #18848
(253) 220-8371
Source:
Exprealty
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 21 at 1:43PM
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 KW Mountains to Sound Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,670 total square feet and offers two separately configured residences. Each unit includes three bedrooms, one full bath, one half bath, a single-car garage, and a floor plan with living, dining, kitchen, and laundry areas. The main level also includes a half bath, while the upper level contains three bedrooms and a full bath.
Recent improvements include newer windows, a new roof, new siding, and fresh exterior paint. Each residence has its own fenced backyard space. The property is located at 1360 Florence St in Enumclaw, Washington, in a setting described as tucked away off Florence Street.
Recent improvements include newer windows, a new roof, new siding, and fresh exterior paint. Each residence has its own fenced backyard space. The property is located at 1360 Florence St in Enumclaw, Washington, in a setting described as tucked away off Florence Street.
Key Highlights
- 2,670 total square feet in a duplex configuration
- Each unit includes 3 beds and 1.5 baths
- Single‑car garage provided for each 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
$45,033
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
6.01%
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%
$900,660
$900.7K
Cap Rate 7%
$643,329
$643.3K
Cap Rate 9%
$500,367
$500.4K
Market Conditions
NOI Build-Up for 2,670 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
$68.1K $25.50/SF
− Vacancy
−$3.8K −$1.41/SF
EGI
$64.3K $24.09/SF
− OpEx
−$19.3K −$7.23/SF
NOI
$45.0K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /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%
$900,660
Cap Rate 7%
$643,329
Cap Rate 9%
$500,367
Alternative Uses
Best Use
Multifamily LT 5
$643.3K
$562.9K – $750.6K
NOI $45,033 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$592.9K
$518.8K – $691.7K
NOI $41,500 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.07M
$935.7K – $1.25M
NOI $74,858 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 98022, WA
22,874
Population
9,828
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
726.5 sq mi
ZIP Area
31
Density / Sq Mi
$116,613
Median Household Income
$59,360
Median Earnings
$1,626
Median Rent
$577,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature practical layouts, private fenced yard areas, and recent exterior improvements.
Where is this duplex located?
The property is located at 1360 Florence St Enumclaw, WA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 2,670 total square feet in a duplex configuration; Each unit includes 3 beds and 1.5 baths; Single‑car garage provided for each unit
