Duplex with River
New
For Sale
$459,000
1403 Grand BLVD, Vancouver, WA 98661
Two one-bedroom units offer private porches, in-unit laundry, a shared garage, and a large yard.
Property Size1,128 SF
Price / SF$406.91
Days on Market5
Property Features for 1403 Grand BLVD
General Information
Standard status
Active
Size
1,128 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
front porch
river views
in-unit washer/dryer
private yard
Building Details
Year Built
1942
Buildings
1
Listing Agency:
The Agency Vancouver
Listed By:
Vicki Gile
(503) 539-5944
Source:
Gilegroup
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 14 at 9:30AM
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 The Agency Vancouver
Investment Insights
Based on property information with market context.
Built in 1942, this 1,128-square-foot duplex contains two one-bedroom, one-bath units. Both residences include bright living spaces, functional kitchens, in-unit washer and dryer setups, and covered front porches with river views. A two-car garage is shared, and the property also includes a large private yard.
One unit is occupied by a long-term tenant, while the second is vacant and has been refreshed with new interior paint, carpet, and blinds. Access and parking are provided from Harney Heights Lane. The property is near Clark College, The Waterfront, parks, and commuter routes, with a location above Grand Boulevard in Harney Heights.
One unit is occupied by a long-term tenant, while the second is vacant and has been refreshed with new interior paint, carpet, and blinds. Access and parking are provided from Harney Heights Lane. The property is near Clark College, The Waterfront, parks, and commuter routes, with a location above Grand Boulevard in Harney Heights.
Key Highlights
- 1,128‑square‑foot duplex built in 1942
- Two 1 bed/1 bath units with bright living areas and functional kitchens
- River views from the front porches
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
$15,072
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
3.28%
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%
$301,440
$301.4K
Cap Rate 7%
$215,314
$215.3K
Cap Rate 9%
$167,467
$167.5K
Market Conditions
NOI Build-Up for 1,128 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
$22.6K $20.04/SF
− Vacancy
−$1.1K −$0.95/SF
EGI
$21.5K $19.09/SF
− OpEx
−$6.5K −$5.73/SF
NOI
$15.1K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$301,440
Cap Rate 7%
$215,314
Cap Rate 9%
$167,467
Alternative Uses
Best Use
Multifamily LT 5
$215.3K
$188.4K – $251.2K
NOI $15,072 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$186.9K
$163.6K – $218.1K
NOI $13,084 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$276.0K
$241.5K – $322.0K
NOI $19,319 @ 7.0% cap · market cap 4.21%
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
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 98661, WA
48,983
Population
22,291
Households
2.2
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,494
Density / Sq Mi
$75,037
Median Household Income
$43,920
Median Earnings
$1,440
Median Rent
$424,700
Median Home Value
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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 one-bedroom units offer private porches, in-unit laundry, a shared garage, and a large yard.
Where is this duplex located?
The property is located at 1403 Grand BLVD Vancouver, WA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1,128‑square‑foot duplex built in 1942; Two 1 bed/1 bath units with bright living areas and functional kitchens; River views from the front porches
