Building Details

Year Built 1954

Listing Agency: eXp Realty

Listed By: Hanna McLendon Show Phone

Source: Lifestylehomeswithmel

Added: Jul 27 Changed: Oct 6 Last Checked: Oct 7 at 12:58PM

Report an Issue

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 eXp Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,616

Cap Rate

2.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$652,320 $652.3K

Cap Rate 7%

$465,943 $465.9K

Cap Rate 9%

$362,400 $362.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,804 SF

Gross rent

$48.8K $17.40/SF

− Vacancy

−$2.2K −$0.78/SF

EGI

$46.6K $16.62/SF

− OpEx

−$14.0K −$4.99/SF

NOI

$32.6K $11.63/SF

Area

Whatcom County, WA

Vacancy

4.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$652,320

Cap Rate 7%

$465,943

Cap Rate 9%

$362,400

Alternative Uses

Best Use

Multifamily LT 5

$465.9K

$407.7K – $543.6K (±1% cap)

NOI $32,616 @ 7.0% cap · market cap 2.84%

Second Best

Apartment 5plus

$431.5K

$377.5K – $503.4K (±1% cap)

NOI $30,202 @ 7.0% cap · market cap 2.63%

Theoretical Best

Office A

$661.5K

$578.8K – $771.7K (±1% cap)

NOI $46,304 @ 7.0% cap · market cap 4.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Electrical Service Plumbing Service Furniture & Home Goods (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

336

Businesses Nearby

Explore this area Business Placement

Demographics for 98264, WA

23,170

Population

8,395

Households

2.8

Avg Household Size

38

Median Age

25%

College-Educated

90%

High-School Grad

57.2 sq mi

ZIP Area

405

Density / Sq Mi

$95,225

Median Household Income

$47,046

Median Earnings

$1,611

Median Rent

$538,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Similar For Sale Nearby

See more

Duplex with Remodeled Unit

401 N 9th Street A & B, Lynden, WA 98264

$785,000

2,892 SF

View details

Townhouse-Style 6-Unit Multifamily

211 Maple, Lynden, WA 98264

$1,250,000

4,750 SF

View details

Corner Industrial Flex Building

113 6th St, Lynden, WA 98264

Contact for pricing

4,590 SF

View details

Self Storage Facility with Overhead Doors

121 Riverwalk, Lynden, WA 98264

$1,100,000

View details

Frequently Asked Questions

Where is this duplex located?

The property is located at 151 Bay Lyn Dr Lynden, WA.

What is the asking price?

The asking price for this property is $1,149,000.