Remodeled Duplex with Dual
For Sale
$515,000
1740 Anderson, Bremerton, WA 98312
Two-unit residential property with updated interiors and separate laundry areas serving both residences.
Property Size1,708 SF
Price / SF$301.52
Days on Market31
Property Features for 1740 Anderson
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
laundry areas
Building Details
Year Built
1952
Year Renovated
2013
Listing Agency:
Old Towne Realty
(360) 874-0091
Listed By:
Donn T. Hughes · License #49809
Source:
Mcardleteam
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 5:47PM
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 Old Towne Realty
Investment Insights
Based on property information with market context.
Built in 1952, this duplex features two residences that received substantial interior and utility updates in 2013. Improvements included PEX water-supply lines, replacement cabinetry and countertops, appliances, plumbing fixtures, flooring, paint, and dedicated laundry areas for each unit. The property is located at 1740 Anderson in Bremerton, within the Anderson Cove area.
The setting provides access to revitalized downtown Bremerton, the Seattle Ferry Terminal, Puget Sound Naval Shipyard, and Puget Sound. Highway 3 is also readily accessible from the property, connecting the site with destinations throughout the surrounding area.
The setting provides access to revitalized downtown Bremerton, the Seattle Ferry Terminal, Puget Sound Naval Shipyard, and Puget Sound. Highway 3 is also readily accessible from the property, connecting the site with destinations throughout the surrounding area.
Key Highlights
- Duplex with two remodeled units
- 2013 updates included PEX water‑supply lines throughout
- Replacement cabinets, countertops, appliances, plumbing fixtures, flooring, and paint
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
$19,991
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
3.88%
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%
$399,820
$399.8K
Cap Rate 7%
$285,586
$285.6K
Cap Rate 9%
$222,122
$222.1K
Market Conditions
NOI Build-Up for 1,708 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
$31.4K $18.36/SF
− Vacancy
−$2.8K −$1.64/SF
EGI
$28.6K $16.72/SF
− OpEx
−$8.6K −$5.02/SF
NOI
$20.0K $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%
$399,820
Cap Rate 7%
$285,586
Cap Rate 9%
$222,122
Alternative Uses
Best Use
Multifamily LT 5
$285.6K
$249.9K – $333.2K
NOI $19,991 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$262.6K
$229.8K – $306.4K
NOI $18,384 @ 7.0% cap · market cap 3.57%
Theoretical Best
Specialty Retail
$569.5K
$498.3K – $664.5K
NOI $39,867 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
251
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-unit residential property with updated interiors and separate laundry areas serving both residences.
Where is this duplex located?
The property is located at 1740 Anderson Bremerton, WA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Duplex with two remodeled units; 2013 updates included PEX water‑supply lines throughout; Replacement cabinets, countertops, appliances, plumbing fixtures, flooring, and paint
