Duplex with Large
For Sale
$605,000
15813 SE 1ST St, Vancouver, WA 98684
MULTI_FAMILY - Vancouver, WA
Property Size2,096 SF
Price / SF$288.65
Days on Market364
Property Features for 15813 SE 1ST St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bathroom 3
Subdivision
Hearth wood
Elementary school
Mill Plain
Middle school
Pacific
High school
Evergreen
Directions
SE 1 Street/ Mill Plain
Standard status
Active
APN
115301151
Size
2,096 SF
Taxes and HOA fees
Tax Description
CAMELOT CREST #2 #2 LOT 45 & #1 LOT 44 FOR ASSESSOR USE ONLY LOTS
Tax Annual Amount
4511
Legal Description
CAMELOT CREST #2 #2 LOT 45 & #1 LOT 44 FOR ASSESSOR USE ONLY LOTS
Amenities
Large backyard
Building Details
Year built
1976
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Location Realty
(360) 718-2998
Listed By:
Gary Koppert
(360) 521-3659
Added: Aug 22, 2025
Changed: Aug 13
Last Checked: Aug 20 at 2:06PM
MLS# 220901166
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 15813 SE 1ST St in Vancouver, WA offers 2,096 square feet with four bedrooms and four bathrooms. The property was built in 1976 and includes a single-car garage, a large backyard, and a composition roof. Interior painting has been completed, providing an updated finish throughout the residence.
The property is zoned R-9 and is located in Vancouver’s 98684 postal area. Its duplex configuration, bedroom and bathroom count, garage, and outdoor space define the primary physical features of the asset.
The property is zoned R-9 and is located in Vancouver’s 98684 postal area. Its duplex configuration, bedroom and bathroom count, garage, and outdoor space define the primary physical features of the asset.
Key Highlights
- 2,096 square feet
- Four bedrooms and four bathrooms
- Large backyard
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 - Four-bedroom, four-bath property with a single-car garage and composition roofing.
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 feet; Four bedrooms and four bathrooms; Large backyard
