Upgraded Duplex with
For Sale
$510,000
1513 Johnston, Richland, WA 99354
Two residential units offer updated kitchens, varied interior improvements, and access to a multifunctional workshop.
Property Size1,800 SF
Price / SF$283.33
Days on Market69
Property Features for 1513 Johnston
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1944
Listing Agency:
Windermere Group One/Tri-Cities
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Aug 9
Changed: Sep 11
Last Checked: Sep 11 at 8:40AM
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 Windermere Group One/Tri-Cities
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Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex, built in 1944, combines two residential units with substantial updates and a 36x30 shop. Both units have heat pumps and refreshed kitchens. The owner-occupied side includes a renovated bathroom, new flooring, fresh paint, updated trim, and a downstairs bedroom. The other unit features newer kitchen cabinetry and a fully fenced yard with a garden area.
The shop expands the property’s utility beyond the residences. Its layout includes a storage area, primary work area with counters, bathroom with shower, meat-cutting room, and loft storage. The property is located at 1513 Johnston in Richland, Washington.
The shop expands the property’s utility beyond the residences. Its layout includes a storage area, primary work area with counters, bathroom with shower, meat-cutting room, and loft storage. The property is located at 1513 Johnston in Richland, Washington.
Key Highlights
- 1,800‑square‑foot duplex with two residential units
- 36x30 shop with work area, counters, bathroom, meat‑cutting room, and loft storage
- Heat pumps serving both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,657
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,140
$313.1K
Cap Rate 7%
$223,671
$223.7K
Cap Rate 9%
$173,967
$174.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$24.4K $13.56/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$22.4K $12.43/SF
− OpEx
−$6.7K −$3.73/SF
NOI
$15.7K $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%
$313,140
Cap Rate 7%
$223,671
Cap Rate 9%
$173,967
Alternative Uses
Best Use
Multifamily LT 5
$223.7K
$195.7K – $261.0K
NOI $15,657 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$198.1K
$173.4K – $231.1K
NOI $13,868 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$499.3K
$436.9K – $582.5K
NOI $34,948 @ 7.0% cap · market cap 6.85%
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
714
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 - Two residential units offer updated kitchens, varied interior improvements, and access to a multifunctional workshop.
Where is this duplex located?
The property is located at 1513 Johnston Richland, WA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 1,800‑square‑foot duplex with two residential units; 36x30 shop with work area, counters, bathroom, meat‑cutting room, and loft storage; Heat pumps serving both units
