Duplex with Fenced
For Sale
$425,000
Pending
1402/1404 Haupt Ave, Richland, WA 99354
MULTI_FAMILY - Richland, WA
Property Size1,800 SF
Lot Size0.23 Acres
Days on Market25
Property Features for 1402/1404 Haupt Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Dining Room, Bathroom 1
Parking features
RV, Off Street, Carport
Window features
Vinyl Frames
Patio and Porch features
Patio
Interior features
Carpets, L Dining, Storage, Vinyl
Exterior features
Fencing/Enclosed, Corner Lot
Fencing
Fenced
Basement
Full
Appliances
Range/Oven, Refrigerator
Subdivision
PLAT OF RICHLAN
Lot features
Loc in City Limits
Elementary school district
Buyer to Verify
Middle school district
Buyer to Verify
High school district
Buyer to Verify
Directions
George WA Way, Right on Hains Ave, Left on Symons St to Haupt Ave
Standard status
Pending
APN
102984020806001
Size
1,800 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4540
Utilities
Utilities
Electricity Available
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
fenced yard
carport
unfinished basement
Building Details
Year built
1944
Number of units
2
Flooring type
Carpet, Laminate, Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
RE/MAX Northwest REALTORS
(509) 736-3344
Listed By:
Hillary Templin · License #109825
(509) 660-0421
Added: Jul 16
Changed: Aug 7
Last Checked: Aug 9 at 7:06PM
MLS# 294757
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex includes two residential units and is set on a 0.23-acre lot. Built in 1944, the property features vinyl siding, vinyl windows, carpet, laminate, and vinyl flooring, along with electric heating and a mix of window-unit and central air conditioning. Each unit has access to paved off-street parking and a carport, while the enclosed yard provides outdoor separation. Unfinished basement areas add storage capacity or space for future remodeling, subject to applicable approvals.
The property is located one block from the river and is minutes from Hanford, PNNL, WSU, parks, shopping, and riverfront amenities. Public water and available electricity serve the property. Appliances include ranges/ovens and refrigerators, and the exterior includes a patio, composition roofing, and fencing.
The property is located one block from the river and is minutes from Hanford, PNNL, WSU, parks, shopping, and riverfront amenities. Public water and available electricity serve the property. Appliances include ranges/ovens and refrigerators, and the exterior includes a patio, composition roofing, and fencing.
Key Highlights
- Two‑unit duplex totaling 1,800 square feet on a 0.23‑acre lot
- Owner‑occupancy setup with rental income from the second unit
- Paved off‑street parking and carports serve both units
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
$15,657
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
3.68%
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%
$313,140
$313.1K
Cap Rate 7%
$223,671
$223.7K
Cap Rate 9%
$173,967
$174.0K
Market Conditions
NOI Build-Up for 1,800 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
$24.4K $13.56/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$22.4K $12.43/SF
− OpEx
−$6.7K −$3.73/SF
NOI
$15.7K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$313,140
Cap Rate 7%
$223,671
Cap Rate 9%
$173,967
Alternative Uses
Best Use
Multifamily LT 5
$223.7K
$195.7K – $261.0K
NOI $15,657 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$198.1K
$173.4K – $231.1K
NOI $13,868 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$499.3K
$436.9K – $582.5K
NOI $34,948 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,580
Businesses Nearby
Explore this area
Business Placement
Demographics for 99354, WA
24,839
Population
10,807
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,039
Density / Sq Mi
$88,601
Median Household Income
$50,192
Median Earnings
$1,299
Median Rent
$355,400
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-unit property with owner-occupancy flexibility, off-street parking, carports, and unfinished basement storage.
Where is this duplex located?
The property is located at 1402/1404 Haupt Ave Richland, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,800 square feet on a 0.23‑acre lot; Owner‑occupancy setup with rental income from the second unit; Paved off‑street parking and carports serve both units
