Corner-Lot Duplex Near
For Sale
$425,000
1817 34th Street, Everett, WA 98201
Two-unit income property with alley access near downtown Everett restaurants, shopping, and recreation.
Property Size1,767 SF
Price / SF$240.52
Days on Market152
Property Features for 1817 34th Street
General Information
Standard status
Active
Size
1,767 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Net Operating Income
$22,005
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,925
Amenities
Vinyl,Carpet
Yes
No
2
Electric
Alley,Corner Lot,Paved
Public
Cable TV
3
1
0.05
Wood
Poured Concrete
1767
Building Details
Building Size
1,767 SF
Year Built
1920
Stories
2
Listing Agency:
Keller Williams Rlty Bellevue
(503) 729-9120
Listed By:
Barbara Case
(503) 729-9120
Source:
Premierepropertygroup
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 31 at 2:01PM
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 Keller Williams Rlty Bellevue
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,767 square feet and was built in 1920. The property features wood construction, a poured-concrete foundation, and interiors with vinyl and carpet flooring. A 0.05-acre corner lot includes paved surfaces and alley access, with cable TV service noted among the property features.
The address is a few blocks south of downtown Everett, placing the property near restaurants, cafes, a baseball park, and shopping. Everett's Waterfront Place is also accessible by a longer walk or a short bike ride. The duplex configuration offers an established residential income format with the potential for an owner-occupant arrangement, as described in the property information.
The address is a few blocks south of downtown Everett, placing the property near restaurants, cafes, a baseball park, and shopping. Everett's Waterfront Place is also accessible by a longer walk or a short bike ride. The duplex configuration offers an established residential income format with the potential for an owner-occupant arrangement, as described in the property information.
Key Highlights
- Two‑unit duplex with 1,767 square feet
- Built in 1920 with wood construction and poured‑concrete foundation
- 0.05‑acre corner lot with paved surfaces and alley access
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
$29,247
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
6.88%
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%
$584,940
$584.9K
Cap Rate 7%
$417,814
$417.8K
Cap Rate 9%
$324,967
$325.0K
Market Conditions
NOI Build-Up for 1,767 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
$44.5K $25.20/SF
− Vacancy
−$2.7K −$1.55/SF
EGI
$41.8K $23.65/SF
− OpEx
−$12.5K −$7.09/SF
NOI
$29.2K $16.55/SF
Area
Everett, WA
Vacancy
6.17%
Lease Rate
$25.20 /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%
$584,940
Cap Rate 7%
$417,814
Cap Rate 9%
$324,967
Alternative Uses
Best Use
Multifamily LT 5
$417.8K
$365.6K – $487.5K
NOI $29,247 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$373.9K
$327.1K – $436.2K
NOI $26,170 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$584.9K
$511.8K – $682.4K
NOI $40,942 @ 7.0% cap · market cap 9.63%
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
3,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 98201, WA
30,421
Population
15,196
Households
2
Avg Household Size
39
Median Age
29%
College-Educated
91%
High-School Grad
18.8 sq mi
ZIP Area
1,618
Density / Sq Mi
$73,822
Median Household Income
$48,830
Median Earnings
$1,443
Median Rent
$476,900
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 income property with alley access near downtown Everett restaurants, shopping, and recreation.
Where is this duplex located?
The property is located at 1817 34th Street Everett, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,767 square feet; Built in 1920 with wood construction and poured‑concrete foundation; 0.05‑acre corner lot with paved surfaces and alley access
