Single-Story Duplex with Fenced
1414 Hensley Street NE # 1412 Lacey, WA 98516
1414 Hensley Street NE # 1412, Lacey, WA, 98516
$498,500
For Sale
$498,500
Well-maintained single-story duplex with two 2-bedroom, 1-bath units, each with garage and laundry area.
Property Size1,832 SF
Price / SF$272.11
Days on Market402
Property Features for 1414 Hensley Street NE # 1412
General Information
- Standard status
- Active
- Size
- 1,832 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1974
Listing agency
Networks Real Estate LLC
(360) 265-0232
Listed by
Levi Olsen
(360) 265-0232
Source
Premierepropertygroup
Added: Jun 16, 2025 Updated: Jul 21 at 6:45AM Checked: Jul 21 at 6:45AM
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 Networks Real Estate LLC
Investment Insights
Based on property information with market context.
Well-maintained, single-story duplex offering two units, each with 2 bedrooms and 1 bathroom. Each unit includes a utility room with a washer and dryer, as well as a refrigerator. The living room/entry area features a small wood-burning fireplace, and each unit has a single-car garage.
The property is situated at the end of a street, offering added privacy. A spacious fenced backyard with some trees provides outdoor space for residents.
The duplex is described as having established tenants who wish to stay.
The property is situated at the end of a street, offering added privacy. A spacious fenced backyard with some trees provides outdoor space for residents.
The duplex is described as having established tenants who wish to stay.
Key Highlights
- Single‑story duplex built in 1974 with 2 units total, each offering 2 bedrooms and 1 bathroom
- 1,832 total building area on a 0.3333‑acre lot on a dead end street
- Each unit includes a utility room with washer and dryer and a refrigerator
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.4k | $20.40 |
| − Vacancy | −$1.8k | −$0.97 |
| EGI | $35.6k | $19.43 |
| − OpEx | −$10.7k | −$5.83 |
| NOI | $24.9k | $13.60 |
1,832 SF · lease $20.40/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$356.0K
$311.5K – $415.3K
NOI $24,918 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,973 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$536.4K
$469.4K – $625.8K
NOI $37,549 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained single-story duplex with two 2-bedroom, 1-bath units, each with garage and laundry area.
Where is this duplex located?
The property is located at 1414 Hensley Street NE # 1412 Lacey, WA.
What is the asking price?
The asking price for this property is $498,500.
What are key features of this property?
This property features: Single‑story duplex built in 1974 with 2 units total, each offering 2 bedrooms and 1 bathroom; 1,832 total building area on a 0.3333‑acre lot on a dead end street; Each unit includes a utility room with washer and dryer and a refrigerator
