Two-Unit
New
For Sale
$590,000
1803 E 6TH St, Vancouver, WA 98661
MultiFamily, Vancouver, WA
Property Size2,165 SF
Lot Size0.12 Acres
Price / SF$272.52
Days on Market4
Property Features for 1803 E 6TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-30
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1
Subdivision
Hudson's Bay
Elementary school
Edgewood
Middle school
Discovery
High school
Hudsons Bay
Directions
Use GPS
Standard status
Active
APN
032640000
Size
2,165 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
RIVERSIDE #1 LOTS 5, 6 & 7 BLK 11 FOR ASSESSOR USE ONLY RIVERSIDE
Tax Annual Amount
5877
Legal Description
RIVERSIDE #1 LOTS 5, 6 & 7 BLK 11 FOR ASSESSOR USE ONLY RIVERSIDE
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Sam Busick
(360) 241-5716
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 6:06PM
MLS# 737064487
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1958, this duplex contains two residences totaling 2,165 square feet: one with 1,317 square feet and the other with 848 square feet. The property has three bedrooms and two full bathrooms overall. Heat pump systems provide heating and cooling, and the roof is composition material.
The parcel measures 0.12 acres and is zoned R-30. The listing provides an estimated GRM range of 14.9–15.6.
The parcel measures 0.12 acres and is zoned R-30. The listing provides an estimated GRM range of 14.9–15.6.
Key Highlights
- Two residences totaling 2,165 square feet
- Residence areas measure 1,317 and 848 square feet
- Three bedrooms and two full bathrooms overall
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
$28,928
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
4.90%
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%
$578,560
$578.6K
Cap Rate 7%
$413,257
$413.3K
Cap Rate 9%
$321,422
$321.4K
Market Conditions
NOI Build-Up for 2,165 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
$43.4K $20.04/SF
− Vacancy
−$2.1K −$0.95/SF
EGI
$41.3K $19.09/SF
− OpEx
−$12.4K −$5.73/SF
NOI
$28.9K $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%
$578,560
Cap Rate 7%
$413,257
Cap Rate 9%
$321,422
Alternative Uses
Best Use
Multifamily LT 5
$413.3K
$361.6K – $482.1K
NOI $28,928 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$358.8K
$313.9K – $418.6K
NOI $25,113 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$529.7K
$463.5K – $618.0K
NOI $37,080 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 98661, WA
48,983
Population
22,291
Households
2.2
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,494
Density / Sq Mi
$75,037
Median Household Income
$43,920
Median Earnings
$1,440
Median Rent
$424,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Separate living areas define the property’s two-residence configuration.
Where is this duplex located?
The property is located at 1803 E 6TH St Vancouver, WA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two residences totaling 2,165 square feet; Residence areas measure 1,317 and 848 square feet; Three bedrooms and two full bathrooms overall
