Renovated Duplex on Large
For Sale
$725,000
1402 N Edison Street, Kennewick, WA 99336
Utility infrastructure was upgraded in 2025 alongside extensive property renovation.
Property Size3,349 SF
Price / SF$216.48
Days on Market26
Property Features for 1402 N Edison Street
General Information
Standard status
Active
Size
3,349 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1958
Year Renovated
2025
Buildings
1
Listing Agency:
Tri-Cities Realty Group, LLC
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Aug 19
Changed: Sep 12
Last Checked: Sep 12 at 7:59AM
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 Tri-Cities Realty Group, LLC
Investment Insights
Based on property information with market context.
Located at 1402 N Edison St in Kennewick, Washington, this duplex contains 3,349 SF and occupies a large lot. Extensive renovation work modernized nearly all major property components, while substantial infrastructure improvements were completed in 2025.
Utility systems were upgraded during the redevelopment, including electrical service planning that considered potential future multifamily expansion. The existing two-unit layout provides an established duplex configuration, and utility and infrastructure documentation is available for review.
Utility systems were upgraded during the redevelopment, including electrical service planning that considered potential future multifamily expansion. The existing two-unit layout provides an established duplex configuration, and utility and infrastructure documentation is available for review.
Key Highlights
- 3,349 SF duplex at 1402 N Edison St, Kennewick, WA
- Extensive renovation modernized nearly all major components
- Substantial infrastructure improvements completed in 2025
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
$29,131
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
4.02%
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%
$582,620
$582.6K
Cap Rate 7%
$416,157
$416.2K
Cap Rate 9%
$323,678
$323.7K
Market Conditions
NOI Build-Up for 3,349 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
$45.4K $13.56/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$41.6K $12.43/SF
− OpEx
−$12.5K −$3.73/SF
NOI
$29.1K $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%
$582,620
Cap Rate 7%
$416,157
Cap Rate 9%
$323,678
Alternative Uses
Best Use
Multifamily LT 5
$416.2K
$364.1K – $485.5K
NOI $29,131 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$368.6K
$322.5K – $430.1K
NOI $25,803 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$928.9K
$812.8K – $1.08M
NOI $65,022 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
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 - Utility infrastructure was upgraded in 2025 alongside extensive property renovation.
Where is this duplex located?
The property is located at 1402 N Edison Street Kennewick, WA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,349 SF duplex at 1402 N Edison St, Kennewick, WA; Extensive renovation modernized nearly all major components; Substantial infrastructure improvements completed in 2025
