Updated Duplex with Attached
New
For Sale
$835,000
1606 SE 145TH Ct, Vancouver, WA 98683
MULTI_FAMILY - Vancouver, WA
Property Size2,910 SF
Lot Size0.24 Acres
Price / SF$286.94
Days on Market2
Property Features for 1606 SE 145TH Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 6, Bathroom 3
Elementary school
Crestline
Middle school
Wy East
High school
Mountain View
Directions
McGillivray, SE 145th Ct.
Subdivision
_24
Standard status
Active
APN
110539258
Size
2,910 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
MCGILLIVRAY HIGHLANDS #2 LOT 66 FOR ASSESSOR USE ONLY MCGILLIVRAY
Tax Annual Amount
6462
Legal Description
MCGILLIVRAY HIGHLANDS #2 LOT 66 FOR ASSESSOR USE ONLY MCGILLIVRAY
Utilities
Heating system
Zoned
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(360) 693-6139
Listed By:
Jeff Moe · License #201226258
(503) 888-5393
Added: Aug 13
Last Checked: Aug 14 at 4:06AM
MLS# 493459138
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 2,910-square-foot duplex contains two three-bedroom residences, each with two-and-a-half bathrooms and an attached two-car garage. Interior improvements include renovated bathrooms and floor plans designed around the separate units. The property was built in 1980 and has zoned heating and a composition roof.
Set on a 0.24-acre cul-de-sac parcel in Vancouver, the property is near schools, shopping, and major highway access. R-9 zoning applies to the site. Each residence includes three bedrooms, two-and-a-half bathrooms, and its own garage, creating a clearly separated duplex configuration.
Set on a 0.24-acre cul-de-sac parcel in Vancouver, the property is near schools, shopping, and major highway access. R-9 zoning applies to the site. Each residence includes three bedrooms, two-and-a-half bathrooms, and its own garage, creating a clearly separated duplex configuration.
Key Highlights
- 2,910 SF duplex with two separate residential units
- Each unit offers 3 BD / 2.5 BA and an attached 2‑car garage
- Renovated bathrooms and updated interior finishes
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer two-and-a-half baths, renovated bathrooms, and separate attached garages.
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: 2,910 SF duplex with two separate residential units; Each unit offers 3 BD / 2.5 BA and an attached 2‑car garage; Renovated bathrooms and updated interior finishes
