Remodeled Duplex on Large
For Sale
$575,000
18605 NE CRAMER RD, Battle Ground, WA 98604
Two-unit property with short-term rental and long-term rental configurations, updated interiors, and substantial on-site parking.
Property Size1,444 SF
Lot Size0.37 Acres
Days on Market12
Property Features for 18605 NE CRAMER RD
General Information
Standard status
Active
Size
1,444 SF
Lot size
0.37 Acres
Property subtype
MULTI_FAMILY
Additional Details
Gross Income
$40,800
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,348
Building Details
Building Size
1,444 SF
Year Built
1938
Buildings
1
Tenancy
Multi
Listing Agency:
Redfin
(360) 680-1462
Listed By:
Frederick Sanchez
(360) 680-1462
Source:
Currangrouprealtors
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 10 at 4:31AM
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 includes two separate units with flexible operating configurations. One side is being used as an Airbnb, while the other serves as a long-term rental. Interior improvements completed between 2022 and 2024 include new flooring, cabinets, countertops, stainless steel appliances, lighting, bathroom fixtures, plumbing, electrical work, and interior paint.
Exterior updates include a new roof installed in 2022, with new siding and exterior paint identified for 2026. The property sits on a 0.37-acre lot with extensive on-site parking. The layout supports continued separation of the two units, including the option to occupy one side while operating the other as a short-term rental. The property was built in 1938 and is located in Battle Ground, Washington.
Exterior updates include a new roof installed in 2022, with new siding and exterior paint identified for 2026. The property sits on a 0.37-acre lot with extensive on-site parking. The layout supports continued separation of the two units, including the option to occupy one side while operating the other as a short-term rental. The property was built in 1938 and is located in Battle Ground, Washington.
Key Highlights
- Two‑unit duplex with separate short‑term and long‑term rental configurations
- 0.37‑acre lot with extensive on‑site parking
- Interior remodeling completed between 2022 and 2024
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
$18,813
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
3.27%
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%
$376,260
$376.3K
Cap Rate 7%
$268,757
$268.8K
Cap Rate 9%
$209,033
$209.0K
Market Conditions
NOI Build-Up for 1,444 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
$28.6K $19.80/SF
− Vacancy
−$1.7K −$1.19/SF
EGI
$26.9K $18.61/SF
− OpEx
−$8.1K −$5.58/SF
NOI
$18.8K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /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%
$376,260
Cap Rate 7%
$268,757
Cap Rate 9%
$209,033
Alternative Uses
Best Use
Multifamily LT 5
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$250.9K
$219.6K – $292.8K
NOI $17,565 @ 7.0% cap · market cap 3.05%
Theoretical Best
Specialty Retail
$351.8K
$307.8K – $410.4K
NOI $24,626 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 98604, WA
38,245
Population
13,557
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
72.1 sq mi
ZIP Area
530
Density / Sq Mi
$108,616
Median Household Income
$58,693
Median Earnings
$1,492
Median Rent
$543,500
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 property with short-term rental and long-term rental configurations, updated interiors, and substantial on-site parking.
Where is this duplex located?
The property is located at 18605 NE CRAMER RD Battle Ground, WA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex with separate short‑term and long‑term rental configurations; 0.37‑acre lot with extensive on‑site parking; Interior remodeling completed between 2022 and 2024
