Remodeled Side-by-Side
New
For Sale
$975,000
14213 Admiralty Way, Lynnwood, WA 98087
Two townhouse-style residences feature updated interiors, private fenced outdoor areas, and flexible owner-occupant or rental use.
Property Size1,980 SF
Lot Size0.49 Acres
Price / SF$492.42
Days on Market1
Property Features for 14213 Admiralty Way
General Information
Standard status
Active
Size
1,980 SF
Lot size
0.49 Acres
Property subtype
Multi-Family
Zoning
R-7,200
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1980
Listed By:
Ron Rougeaux
(360) 338-8355
Source:
Pnwhomesgroup
Added: Sep 14
Last Checked: Sep 14 at 7:32AM
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 Ron Rougeaux
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two townhouse-style residences totaling 1,980 square feet. Built in 1980, both units have been remodeled with contemporary kitchens, white cabinetry, quartz countertops, stainless steel appliances, refreshed bathrooms, updated flooring, and modern lighting. Spacious living rooms include fireplaces, while large windows and recessed lighting contribute to bright, open interiors. Each residence has a separate living arrangement and its own fully fenced area.
The property occupies a 0.49-acre lot zoned R-7,200 at 14213 Admiralty Way in Lynnwood, Washington. Its configuration supports privacy between the two homes and accommodates a range of ownership arrangements, including living in one unit while leasing the other. Shopping, dining, transit, and major commuter routes are accessible from the property. Any future development or additional-unit possibilities should be verified with Snohomish County.
The property occupies a 0.49-acre lot zoned R-7,200 at 14213 Admiralty Way in Lynnwood, Washington. Its configuration supports privacy between the two homes and accommodates a range of ownership arrangements, including living in one unit while leasing the other. Shopping, dining, transit, and major commuter routes are accessible from the property. Any future development or additional-unit possibilities should be verified with Snohomish County.
Key Highlights
- Two‑unit duplex totaling 1,980 square feet
- Townhouse‑style side‑by‑side layout with separate living spaces
- Remodeled kitchens with quartz countertops and stainless steel appliances
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
$33,006
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
3.39%
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%
$660,120
$660.1K
Cap Rate 7%
$471,514
$471.5K
Cap Rate 9%
$366,733
$366.7K
Market Conditions
NOI Build-Up for 1,980 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
$49.9K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$47.2K $23.81/SF
− OpEx
−$14.1K −$7.14/SF
NOI
$33.0K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$25.20 /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%
$660,120
Cap Rate 7%
$471,514
Cap Rate 9%
$366,733
Alternative Uses
Best Use
Multifamily LT 5
$471.5K
$412.6K – $550.1K
NOI $33,006 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$423.1K
$370.2K – $493.6K
NOI $29,615 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$552.2K
$483.2K – $644.2K
NOI $38,653 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 98087, WA
40,711
Population
16,625
Households
2.4
Avg Household Size
35
Median Age
39%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
7,142
Density / Sq Mi
$106,541
Median Household Income
$56,592
Median Earnings
$2,010
Median Rent
$633,200
Median Home Value
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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 townhouse-style residences feature updated interiors, private fenced outdoor areas, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 14213 Admiralty Way Lynnwood, WA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,980 square feet; Townhouse‑style side‑by‑side layout with separate living spaces; Remodeled kitchens with quartz countertops and stainless steel appliances
