Building Details

Year Built 1956

Listing Agency: John L. Scott Dupont

Listed By: Davina L. Clardy · License #24487 Show Phone

Source: Theinspiregroup

Added: Jul 27 Changed: Oct 8 Last Checked: Oct 16 at 1:43PM

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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 John L. Scott Dupont

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Investment Insights

Based on property information with market context.

This 1,368-square-foot duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. Both units have recently refreshed interiors and include kitchen appliances. Separate driveways serve the units, while each residence has its own fully fenced backyard. The property sits on a large corner lot and includes a roof installed within the last few years.

The address is near Pacific Lutheran University, shopping, major freeways, and Joint Base Lewis-McChord. Full occupancy and an established rental history provide existing operating context for the property. Built in 1956, the low-maintenance configuration supports continued use as a two-unit residential income property.

Key Highlights

• 1,368 SF duplex with two 2‑bedroom, 1‑bath units
• Both units are fully occupied
• Recently refreshed interiors with kitchen appliances included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,024

Cap Rate

3.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$360,480 $360.5K

Cap Rate 7%

$257,486 $257.5K

Cap Rate 9%

$200,267 $200.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,368 SF

Gross rent

$27.1K $19.80/SF

− Vacancy

−$1.3K −$0.98/SF

EGI

$25.7K $18.82/SF

− OpEx

−$7.7K −$5.65/SF

NOI

$18.0K $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%

$360,480

Cap Rate 7%

$257,486

Cap Rate 9%

$200,267

Alternative Uses

Best Use

Multifamily LT 5

$257.5K

$225.3K – $300.4K (±1% cap)

NOI $18,024 @ 7.0% cap · market cap 3.64%

Second Best

Apartment 5plus

$223.8K

$195.8K – $261.1K (±1% cap)

NOI $15,664 @ 7.0% cap · market cap 3.16%

Theoretical Best

Office A

$420.5K

$367.9K – $490.6K (±1% cap)

NOI $29,434 @ 7.0% cap · market cap 5.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Skin Care Clinic Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

249

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Fully occupied two-unit property with refreshed interiors, separate driveways, and individual fenced outdoor areas.

Where is this duplex located?

The property is located at 1644 120th St S Tacoma, WA.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 1,368 SF duplex with two 2‑bedroom, 1‑bath units; Both units are fully occupied; Recently refreshed interiors with kitchen appliances included