Updated Duplex with Attached
New
For Sale
$630,000
1614 -1616 115th Street S, Tacoma, WA 98444
Single-level homes feature fenced backyards, kitchen decks, and extra parking for a boat or RV.
Property Size1,872 SF
Price / SF$336.54
Days on Market3
Property Features for 1614 -1616 115th Street S
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
6
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,626
Amenities
Wood
Wood Products
Building Details
Building Size
1,872 SF
Year Built
1989
Buildings
1
Stories
1
Units
2
Listing Agency:
Windermere Prof Partners
(253) 565-1189
Listed By:
Andy Smith
(425) 971-9381
Source:
Frosthometeam
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 5:18PM
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 Prof Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,872-square-foot duplex, built in 1989, contains two single-level units of 936 square feet each. Both offer two bedrooms, one full bathroom, an attached one-car garage, and an open layout with vaulted living room ceilings. Updated kitchens include quartz countertops, cabinetry, appliances, and backsplash; other improvements include interior paint and roofing. Each unit also has a fenced backyard and a deck accessed from the kitchen.
The property is on a dead-end street with access to shopping, I-5, major roadways, and JBLM. The lot provides additional parking for a boat or RV. Buyers considering DADU development should verify feasibility with the Pierce County Building Department.
The property is on a dead-end street with access to shopping, I-5, major roadways, and JBLM. The lot provides additional parking for a boat or RV. Buyers considering DADU development should verify feasibility with the Pierce County Building Department.
Key Highlights
- 1,872‑square‑foot duplex with two 936‑square‑foot units
- Each unit has 2 bedrooms, 1 full bath, and an attached 1‑car garage
- Built in 1989; improvements include roofing, interior paint, and updated kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,664
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,280
$493.3K
Cap Rate 7%
$352,343
$352.3K
Cap Rate 9%
$274,044
$274.0K
Market Conditions
NOI Build-Up for 1,872 SF
Gross rent
$37.1K $19.80/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$35.2K $18.82/SF
− OpEx
−$10.6K −$5.65/SF
NOI
$24.7K $13.18/SF
Area
Tacoma, WA
Vacancy
4.94%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,280
Cap Rate 7%
$352,343
Cap Rate 9%
$274,044
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.3K – $411.1K
NOI $24,664 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$306.2K
$267.9K – $357.2K
NOI $21,434 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$575.4K
$503.5K – $671.3K
NOI $40,278 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Single-level homes feature fenced backyards, kitchen decks, and extra parking for a boat or RV.
Where is this duplex located?
The property is located at 1614 -1616 115th Street S Tacoma, WA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 1,872‑square‑foot duplex with two 936‑square‑foot units; Each unit has 2 bedrooms, 1 full bath, and an attached 1‑car garage; Built in 1989; improvements include roofing, interior paint, and updated kitchens
