Three-Bedroom
For Sale
$450,000
1441 Thayer Drive, Richland, WA 99354
The property includes central heat and air along with a fenced backyard.
Property Size2,348 SF
Price / SF$191.65
Days on Market53
Property Features for 1441 Thayer Drive
General Information
Standard status
Active
Size
2,348 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
fenced back yard
Building Details
Year Built
1944
Listing Agency:
Kw Palouse
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Aug 26
Changed: Oct 16
Last Checked: Oct 16 at 9:11AM
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 Kw Palouse
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Investment Insights
Based on property information with market context.
This duplex contains two residential units totaling 2,348 square feet. Each unit measures 1,174 square feet and includes three bedrooms, one bathroom, central heat and air, and access to a fenced backyard. The property is located at 1441 Thayer Drive in Richland, Washington, providing a two-unit residential configuration for an owner-occupant or rental property owner.
Key Highlights
- Two‑unit duplex totaling 2,348 square feet
- Each unit measures 1,174 square feet
- Both units include 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,424
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,480
$408.5K
Cap Rate 7%
$291,771
$291.8K
Cap Rate 9%
$226,933
$226.9K
Market Conditions
NOI Build-Up for 2,348 SF
Gross rent
$31.8K $13.56/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$29.2K $12.43/SF
− OpEx
−$8.8K −$3.73/SF
NOI
$20.4K $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 Rate 5%
$408,480
Cap Rate 7%
$291,771
Cap Rate 9%
$226,933
Alternative Uses
Best Use
Multifamily LT 5
$291.8K
$255.3K – $340.4K
NOI $20,424 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$258.4K
$226.1K – $301.5K
NOI $18,090 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$651.2K
$569.8K – $759.8K
NOI $45,587 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 99354, WA
24,839
Population
10,807
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,039
Density / Sq Mi
$88,601
Median Household Income
$50,192
Median Earnings
$1,299
Median Rent
$355,400
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
Frequently Asked Questions
What type of property is this?
Duplex - The property includes central heat and air along with a fenced backyard.
Where is this duplex located?
The property is located at 1441 Thayer Drive Richland, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,348 square feet; Each unit measures 1,174 square feet; Both units include 3 bedrooms and 1 bathroom
