Duplex with Private
New
For Sale
$408,000
1695 Ruth ST, Walla Walla, WA 99362
Two-unit residential property with updated finishes, tenant occupancy, private outdoor areas, and parking on a private road.
Property Size2,624 SF
Price / SF$155.49
Days on Market3
Property Features for 1695 Ruth ST
General Information
Standard status
Active
Size
2,624 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1.5BA
Multifamily Units
2
Amenities
private backyards
Building Details
Year Built
1940
Listing Agency:
Odonnell Group Realty
(360) 844-3142
Listed By:
Donna Roberts
(360) 844-3142
Source:
Donnarobertsgroup
Added: Aug 30
Changed: Aug 31
Last Checked: Sep 1 at 6:43PM
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 Odonnell Group Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,624 square feet and was built in 1940. Unit A has received new LVP flooring, carpet, and interior paint, while both residences have private backyards and ample parking. The property is situated on a private road governed by a recorded maintenance agreement.
Both units are occupied by long-term tenants, and the property has a history of low vacancy. The existing occupancy and recent improvements provide a straightforward configuration for an owner seeking a residential income property with established tenant relationships.
Both units are occupied by long-term tenants, and the property has a history of low vacancy. The existing occupancy and recent improvements provide a straightforward configuration for an owner seeking a residential income property with established tenant relationships.
Key Highlights
- 2,624‑square‑foot duplex built in 1940
- Unit A updated with new LVP flooring, carpet, and paint
- Both units occupied by long‑term tenants
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
$21,416
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
5.25%
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%
$428,320
$428.3K
Cap Rate 7%
$305,943
$305.9K
Cap Rate 9%
$237,956
$238.0K
Market Conditions
NOI Build-Up for 2,624 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
$31.8K $12.12/SF
− Vacancy
−$1.2K −$0.46/SF
EGI
$30.6K $11.66/SF
− OpEx
−$9.2K −$3.50/SF
NOI
$21.4K $8.16/SF
Area
Walla Walla County, WA
Vacancy
3.80%
Lease Rate
$12.12 /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%
$428,320
Cap Rate 7%
$305,943
Cap Rate 9%
$237,956
Alternative Uses
Best Use
Multifamily LT 5
$305.9K
$267.7K – $356.9K
NOI $21,416 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$267.2K
$233.8K – $311.7K
NOI $18,704 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$617.5K
$540.3K – $720.5K
NOI $43,227 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 99362, WA
43,249
Population
18,022
Households
2.4
Avg Household Size
40
Median Age
31%
College-Educated
90%
High-School Grad
303.1 sq mi
ZIP Area
143
Density / Sq Mi
$70,660
Median Household Income
$37,236
Median Earnings
$1,148
Median Rent
$398,000
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 - Two-unit residential property with updated finishes, tenant occupancy, private outdoor areas, and parking on a private road.
Where is this duplex located?
The property is located at 1695 Ruth ST Walla Walla, WA.
What is the asking price?
The asking price for this property is $408,000.
What are key features of this property?
This property features: 2,624‑square‑foot duplex built in 1940; Unit A updated with new LVP flooring, carpet, and paint; Both units occupied by long‑term tenants
