Updated Duplex with Rec
For Sale
$520,000
1727 Bloomington Ave 1725, Bremerton, WA 98312
Two separate residences with recent mechanical, insulation, roofing, and flooring improvements in Bremerton.
Property Size2,108 SF
Price / SF$246.68
Days on Market15
Property Features for 1727 Bloomington Ave 1725
General Information
Standard status
Active
Size
2,108 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
rec room
Building Details
Year Built
1952
Listing Agency:
Redfin
Listed By:
Sheryl Wingate · License #111727
(253) 201-3130
Source:
Searchhomesinbellingham
Added: Sep 9
Changed: Sep 16
Last Checked: Sep 22 at 5:50PM
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 Redfin
Investment Insights
Based on property information with market context.
This duplex contains 2,108 square feet and was built in 1952, with two separate residential units that support owner occupancy, multigenerational use, or rental income. Recent work includes a new roof, mostly replaced sheathing, thermal sealing in the addition, blown-in insulation, new heaters in both units, and LVP flooring. Unit 1725 also includes an expanded recreation room that adds flexible living area.
The property is located near Puget Sound Naval Shipyard, shopping, dining, and everyday services. Access to Seattle ferry and fast ferry terminals adds commuter connectivity. With separate residences and substantial recent improvements, the layout offers flexibility for residential income use or a live-in ownership strategy.
The property is located near Puget Sound Naval Shipyard, shopping, dining, and everyday services. Access to Seattle ferry and fast ferry terminals adds commuter connectivity. With separate residences and substantial recent improvements, the layout offers flexibility for residential income use or a live-in ownership strategy.
Key Highlights
- Duplex totaling 2,108 square feet
- New roof and mostly replaced sheathing
- Thermal sealing in the addition plus new blown‑in insulation
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
$24,673
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
4.74%
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%
$493,460
$493.5K
Cap Rate 7%
$352,471
$352.5K
Cap Rate 9%
$274,144
$274.1K
Market Conditions
NOI Build-Up for 2,108 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
$38.7K $18.36/SF
− Vacancy
−$3.5K −$1.64/SF
EGI
$35.2K $16.72/SF
− OpEx
−$10.6K −$5.02/SF
NOI
$24.7K $11.70/SF
Area
Kitsap County, WA
Vacancy
8.93%
Lease Rate
$18.36 /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%
$493,460
Cap Rate 7%
$352,471
Cap Rate 9%
$274,144
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.4K – $411.2K
NOI $24,673 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$324.1K
$283.6K – $378.2K
NOI $22,689 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$702.9K
$615.1K – $820.1K
NOI $49,204 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 98312, WA
33,405
Population
14,450
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
96%
High-School Grad
65.7 sq mi
ZIP Area
508
Density / Sq Mi
$85,332
Median Household Income
$50,416
Median Earnings
$1,601
Median Rent
$430,700
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 separate residences with recent mechanical, insulation, roofing, and flooring improvements in Bremerton.
Where is this duplex located?
The property is located at 1727 Bloomington Ave 1725 Bremerton, WA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Duplex totaling 2,108 square feet; New roof and mostly replaced sheathing; Thermal sealing in the addition plus new blown‑in insulation
