Single-Level Duplex with
For Sale
$610,000
1408 103rd St E, Tacoma, WA 98445
The property includes a one-car garage, fenced backyard, and established rental history.
Property Size1,988 SF
Price / SF$306.84
Days on Market35
Property Features for 1408 103rd St E
General Information
Standard status
Active
Size
1,988 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Amenities
fenced yard
Building Details
Year Built
1989
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty PS
(253) 370-1068
Listed By:
Mark Van Antwerp · License #83852
Source:
Theinspiregroup
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 29 at 12:00PM
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 Keller Williams Realty PS
Investment Insights
Based on property information with market context.
This single-level duplex contains 1,988 square feet and was built in 1989. The stated configuration includes 2 bedrooms and 1 bath, along with a one-car garage and a fully fenced backyard. The property is described as well maintained and has an established rental history.
The property is located at 1408 103rd St E in Tacoma, Washington. A separate duplex next door and a double-wide mobile home behind the duplexes are also available from the same seller, providing additional options for buyers evaluating multiple rental properties. Those properties are offered separately and are not included with this duplex.
The property is located at 1408 103rd St E in Tacoma, Washington. A separate duplex next door and a double-wide mobile home behind the duplexes are also available from the same seller, providing additional options for buyers evaluating multiple rental properties. Those properties are offered separately and are not included with this duplex.
Key Highlights
- 1,988‑square‑foot duplex built in 1989
- Single‑level layout with 2 bedrooms and 1 bath
- One‑car garage included
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
$26,193
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
4.29%
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%
$523,860
$523.9K
Cap Rate 7%
$374,186
$374.2K
Cap Rate 9%
$291,033
$291.0K
Market Conditions
NOI Build-Up for 1,988 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
$39.4K $19.80/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$37.4K $18.82/SF
− OpEx
−$11.2K −$5.65/SF
NOI
$26.2K $13.18/SF
Area
Tacoma, WA
Vacancy
4.94%
Lease Rate
$19.80 /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%
$523,860
Cap Rate 7%
$374,186
Cap Rate 9%
$291,033
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.6K
NOI $26,193 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$325.2K
$284.5K – $379.4K
NOI $22,762 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$611.1K
$534.7K – $712.9K
NOI $42,774 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 98445, WA
33,927
Population
12,546
Households
2.7
Avg Household Size
36
Median Age
19%
College-Educated
90%
High-School Grad
10.4 sq mi
ZIP Area
3,262
Density / Sq Mi
$90,063
Median Household Income
$48,574
Median Earnings
$1,721
Median Rent
$413,200
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 - The property includes a one-car garage, fenced backyard, and established rental history.
Where is this duplex located?
The property is located at 1408 103rd St E Tacoma, WA.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: 1,988‑square‑foot duplex built in 1989; Single‑level layout with 2 bedrooms and 1 bath; One‑car garage included
