Updated Two-Unit
For Sale
$835,000
1606 SE 145th Ct, Vancouver, WA 98683
Each residence offers attached garage parking, renovated bathrooms, and a practical multi-bedroom layout.
Property Size2,910 SF
Days on Market8
Property Features for 1606 SE 145th Ct
General Information
Standard status
Active
Size
2,910 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R-9
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$6,462
Building Details
Building Size
2,910 SF
Year Built
1980
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Premiere Property Group, LLC
(503) 888-5393
Listed By:
Jeff Moe · License #201226258
(503) 888-5393
Source:
Allprofessionalsre
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 19 at 3:10PM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This duplex contains two updated residences, each configured with 3 BD / 2.5 BA and an attached 2-car garage. Interior improvements include renovated bathrooms and functional floor plans suited to separate occupancy. The property was built in 1980 and is zoned R-9.
Situated at the end of a cul-de-sac at 1606 SE 145th Ct in Vancouver, WA, the duplex occupies an expansive lot with access to schools, shopping, and major highways nearby. The two-unit configuration supports separate residential use within one property, with each side providing the same bedroom, bath, and garage arrangement.
Situated at the end of a cul-de-sac at 1606 SE 145th Ct in Vancouver, WA, the duplex occupies an expansive lot with access to schools, shopping, and major highways nearby. The two-unit configuration supports separate residential use within one property, with each side providing the same bedroom, bath, and garage arrangement.
Key Highlights
- Two‑unit duplex with 3 BD / 2.5 BA per residence
- Attached 2‑car garage for each unit
- Renovated bathrooms and updated interiors
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
$38,882
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
4.66%
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%
$777,640
$777.6K
Cap Rate 7%
$555,457
$555.5K
Cap Rate 9%
$432,022
$432.0K
Market Conditions
NOI Build-Up for 2,910 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
$58.3K $20.04/SF
− Vacancy
−$2.8K −$0.95/SF
EGI
$55.5K $19.09/SF
− OpEx
−$16.7K −$5.73/SF
NOI
$38.9K $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%
$777,640
Cap Rate 7%
$555,457
Cap Rate 9%
$432,022
Alternative Uses
Best Use
Multifamily LT 5
$555.5K
$486.0K – $648.0K
NOI $38,882 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$482.2K
$421.9K – $562.6K
NOI $33,755 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$712.0K
$623.0K – $830.7K
NOI $49,840 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 98683, WA
33,884
Population
14,352
Households
2.4
Avg Household Size
42
Median Age
42%
College-Educated
94%
High-School Grad
7.3 sq mi
ZIP Area
4,642
Density / Sq Mi
$83,821
Median Household Income
$47,862
Median Earnings
$1,783
Median Rent
$501,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers attached garage parking, renovated bathrooms, and a practical multi-bedroom layout.
Where is this duplex located?
The property is located at 1606 SE 145th Ct Vancouver, WA.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 BD / 2.5 BA per residence; Attached 2‑car garage for each unit; Renovated bathrooms and updated interiors
