Duplex with Single-Car
For Sale
$605,000
15813 SE 1st St, Vancouver, WA 98684
R-9 zoning, a private backyard, and recent paint complement this residential income property.
Property Size2,096 SF
Price / SF$288.65
Days on Market174
Property Features for 15813 SE 1st St
General Information
Standard status
Active
Size
2,096 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Amenities
large backyard
Building Details
Year Built
1976
Listing Agency:
Location Realty
Listed By:
Gary Koppert
(360) 718-2998
Source:
Evokepropertypartners
Added: Mar 13
Changed: Aug 29
Last Checked: Sep 1 at 9:05PM
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 Location Realty
Investment Insights
Based on property information with market context.
This duplex offers 2,096 square feet of residential space with a single-car garage and a backyard. Recent paint provides an updated finish, while the exterior includes composition materials with lap, T1-11, and wood siding. The property was built in 1976 and includes a crawl space with a concrete perimeter and stem-wall foundation.
Located at 15813 Southeast 1st Street in Vancouver, Washington, the property carries R-9 zoning. Its duplex configuration, garage, outdoor area, and established construction provide a straightforward residential income property profile.
Located at 15813 Southeast 1st Street in Vancouver, Washington, the property carries R-9 zoning. Its duplex configuration, garage, outdoor area, and established construction provide a straightforward residential income property profile.
Key Highlights
- 2,096‑square‑foot duplex built in 1976
- Single‑car garage included
- Backyard provides private outdoor space
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
$28,006
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
4.63%
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%
$560,120
$560.1K
Cap Rate 7%
$400,086
$400.1K
Cap Rate 9%
$311,178
$311.2K
Market Conditions
NOI Build-Up for 2,096 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
$42.0K $20.04/SF
− Vacancy
−$2.0K −$0.95/SF
EGI
$40.0K $19.09/SF
− OpEx
−$12.0K −$5.73/SF
NOI
$28.0K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$560,120
Cap Rate 7%
$400,086
Cap Rate 9%
$311,178
Alternative Uses
Best Use
Multifamily LT 5
$400.1K
$350.1K – $466.8K
NOI $28,006 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,313 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$512.8K
$448.7K – $598.3K
NOI $35,898 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 98684, WA
33,659
Population
14,355
Households
2.3
Avg Household Size
37
Median Age
29%
College-Educated
90%
High-School Grad
7.1 sq mi
ZIP Area
4,741
Density / Sq Mi
$88,044
Median Household Income
$48,108
Median Earnings
$1,847
Median Rent
$442,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-9 zoning, a private backyard, and recent paint complement this residential income property.
Where is this duplex located?
The property is located at 15813 SE 1st St Vancouver, WA.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: 2,096‑square‑foot duplex built in 1976; Single‑car garage included; Backyard provides private outdoor space
