Duplex with Two-Car
For Sale
$625,000
16203 Northeast 8th Street, Vancouver, WA 98684
Duplex offering a rented 2-bed unit and a move-in ready 3-bed unit with two-car garage and vaulted ceilings.
Property Size2,434 SF
Price / SF$256.78
Days on Market153
Property Features for 16203 Northeast 8th Street
General Information
Standard status
Active
Size
2,434 SF
Property subtype
Multi Family
Zoning
R1-5
Taxes and HOA fees
Annual Taxes
$5,684
Amenities
1
Concrete Perimeter
Composition
Aluminum, Vinyl Siding
Building Details
Year Built
1995
Listing Agency:
Knipe Realty ERA Powered
(971) 570-1704
Listed By:
Andrea Warren · License #21016981
(971) 570-1704
Source:
Compass
Added: Mar 18
Changed: Aug 8
Last Checked: Jul 22 at 11:02PM
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 Knipe Realty ERA Powered
Investment Insights
Based on property information with market context.
This duplex features two separate residential units. One side is a 2-bedroom, 2-bath home with a one-car garage and is currently rented through August. The other side is a 3-bedroom, 2-bath residence with vaulted ceilings, skylights, a gas fireplace, and a two-car garage. That unit has been freshly painted and described as move-in ready.
The property is located near shopping, dining, and other conveniences.
Overall, the building provides a two-unit configuration with attached garages on both sides, including one unit with a two-car garage and interior features such as vaulted ceilings, skylights, and a gas fireplace.
The property is located near shopping, dining, and other conveniences.
Overall, the building provides a two-unit configuration with attached garages on both sides, including one unit with a two-car garage and interior features such as vaulted ceilings, skylights, and a gas fireplace.
Key Highlights
- Duplex with two units in 1‑story layout (no basement), built in 1995
- 2‑bed, 2‑bath unit includes a 1‑car garage and is currently rented through August
- 3‑bed, 2‑bath unit features vaulted ceilings, skylights, a gas fireplace, and a 2‑car garage
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
$32,522
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
5.20%
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%
$650,440
$650.4K
Cap Rate 7%
$464,600
$464.6K
Cap Rate 9%
$361,356
$361.4K
Market Conditions
NOI Build-Up for 2,434 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
$48.8K $20.04/SF
− Vacancy
−$2.3K −$0.95/SF
EGI
$46.5K $19.09/SF
− OpEx
−$13.9K −$5.73/SF
NOI
$32.5K $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%
$650,440
Cap Rate 7%
$464,600
Cap Rate 9%
$361,356
Alternative Uses
Best Use
Multifamily LT 5
$464.6K
$406.5K – $542.0K
NOI $32,522 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$403.3K
$352.9K – $470.6K
NOI $28,233 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$595.5K
$521.1K – $694.8K
NOI $41,687 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
317
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering a rented 2-bed unit and a move-in ready 3-bed unit with two-car garage and vaulted ceilings.
Where is this duplex located?
The property is located at 16203 Northeast 8th Street Vancouver, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Duplex with two units in 1‑story layout (no basement), built in 1995; 2‑bed, 2‑bath unit includes a 1‑car garage and is currently rented through August; 3‑bed, 2‑bath unit features vaulted ceilings, skylights, a gas fireplace, and a 2‑car garage
