Occupied Two-Unit
For Sale
$625,000
1390 Cedar Avenue, Marysville, WA 98270
Two private-entry residences with paved off-street parking and current long-term occupancy.
Property Size2,199 SF
Price / SF$284.22
Days on Market262
Property Features for 1390 Cedar Avenue
General Information
Standard status
Active
Size
2,199 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$38,473
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,135
Amenities
Hardwood,Laminate,Vinyl Plank,Carpet
Yes
No
2
Electric
Paved
Public
0.27
Wood,Wood Products
Poured Concrete
2199
7
Building Details
Building Size
2,199 SF
Year Built
1947
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Windermere RE/Lk Chelan Dwntwn
(509) 281-1536
Listed By:
Kiya Childers-Wolff
(509) 281-1536
Source:
Premierepropertygroup
Added: Dec 11, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:18PM
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 RE/Lk Chelan Dwntwn
Investment Insights
Based on property information with market context.
This 2,199-square-foot duplex was built in 1947 and contains two residences, each with a private entrance. Paved off-street parking serves the property, while the structure features wood and wood-product exterior construction over a poured-concrete foundation.
Both units are occupied by long-term tenants. The property is located at 1390 Cedar Avenue in downtown Marysville, with access to nearby shops, dining, schools, and public transportation. The site encompasses 0.27 acres and offers an established two-unit configuration in a central urban setting.
Both units are occupied by long-term tenants. The property is located at 1390 Cedar Avenue in downtown Marysville, with access to nearby shops, dining, schools, and public transportation. The site encompasses 0.27 acres and offers an established two-unit configuration in a central urban setting.
Key Highlights
- Two‑unit duplex with 2,199 square feet
- Both units occupied by long‑term tenants
- Private entrance 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
$36,657
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
5.87%
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%
$733,140
$733.1K
Cap Rate 7%
$523,671
$523.7K
Cap Rate 9%
$407,300
$407.3K
Market Conditions
NOI Build-Up for 2,199 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
$55.4K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$52.4K $23.81/SF
− OpEx
−$15.7K −$7.14/SF
NOI
$36.7K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
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%
$733,140
Cap Rate 7%
$523,671
Cap Rate 9%
$407,300
Alternative Uses
Best Use
Multifamily LT 5
$523.7K
$458.2K – $611.0K
NOI $36,657 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$469.9K
$411.1K – $548.2K
NOI $32,891 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$613.3K
$536.6K – $715.5K
NOI $42,928 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 98270, WA
51,969
Population
19,840
Households
2.6
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
3,634
Density / Sq Mi
$102,258
Median Household Income
$50,619
Median Earnings
$1,845
Median Rent
$540,000
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 private-entry residences with paved off-street parking and current long-term occupancy.
Where is this duplex located?
The property is located at 1390 Cedar Avenue Marysville, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,199 square feet; Both units occupied by long‑term tenants; Private entrance for each residence
