Single-Level Duplex with
For Sale
$575,000
1614 SE 146TH Ct, Vancouver, WA 98683
MultiFamily, Vancouver, WA
Property Size2,032 SF
Lot Size0.19 Acres
Price / SF$282.97
Days on Market93
Property Features for 1614 SE 146TH Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 2
Subdivision
McGillivray Highlands
Elementary school
Crestline
Middle school
Wy East
High school
Mountain View
Directions
McGillivray. South on 146th Ct.
Standard status
Active
APN
110539234
Size
2,032 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
MCGILLIVRAY HIGHLANDS #2 LOT 54 FOR ASSESSOR USE ONLY MCGILLIVRAY
Tax Annual Amount
5718
Legal Description
MCGILLIVRAY HIGHLANDS #2 LOT 54 FOR ASSESSOR USE ONLY MCGILLIVRAY
Utilities
Heating system
Radiant
Cooling system
Window Unit(s)
Building Details
Year built
1979
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Realty One Group Prestige
(503) 205-0614
Listed By:
Amanda Newton
(503) 728-8262
Added: Jun 10
Changed: Sep 6
Last Checked: Sep 10 at 6:06PM
MLS# 377295887
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 single-level duplex contains 2,032 square feet across two residential units on a 0.19-acre parcel. Built in 1979, the property is zoned R-9 and includes rear-load two-car garages. Each unit has its own bathroom and bedroom accommodations, with radiant heating, window unit cooling, and a composition roof.
Property improvements include a roof replacement, new flooring, garage doors, and updates to most appliances and plumbing fixtures completed in 2017. The exterior was repainted in 2021. More recent unit-specific work includes a new washer, water heater, and bathroom sink replacement. The duplex is located in Vancouver, WA, near amenities and commuter routes.
Property improvements include a roof replacement, new flooring, garage doors, and updates to most appliances and plumbing fixtures completed in 2017. The exterior was repainted in 2021. More recent unit-specific work includes a new washer, water heater, and bathroom sink replacement. The duplex is located in Vancouver, WA, near amenities and commuter routes.
Key Highlights
- 2,032‑square‑foot duplex on a 0.19‑acre lot
- Two units with rear‑load two‑car garages
- R‑9 zoning in Vancouver, WA
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
$27,151
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
4.72%
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%
$543,020
$543.0K
Cap Rate 7%
$387,871
$387.9K
Cap Rate 9%
$301,678
$301.7K
Market Conditions
NOI Build-Up for 2,032 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
$40.7K $20.04/SF
− Vacancy
−$1.9K −$0.95/SF
EGI
$38.8K $19.09/SF
− OpEx
−$11.6K −$5.73/SF
NOI
$27.2K $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%
$543,020
Cap Rate 7%
$387,871
Cap Rate 9%
$301,678
Alternative Uses
Best Use
Multifamily LT 5
$387.9K
$339.4K – $452.5K
NOI $27,151 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$336.7K
$294.6K – $392.8K
NOI $23,570 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$497.2K
$435.0K – $580.0K
NOI $34,802 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
436
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units occupy a private cul-de-sac property with rear-access garages and separate living spaces.
Where is this duplex located?
The property is located at 1614 SE 146TH Ct Vancouver, WA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,032‑square‑foot duplex on a 0.19‑acre lot; Two units with rear‑load two‑car garages; R‑9 zoning in Vancouver, WA
