Two-Story Duplex with
For Sale
$289,900
200 E 3rd St, Grandview, WA 98930
Income-producing residential property with two separate units and basement storage.
Property Size2,400 SF
Price / SF$120.79
Days on Market18
Property Features for 200 E 3rd St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Property Condition
Severity
Minor
Evidence
needs some TLC
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,137
Building Details
Buildings
1
Stories
2
Listing Agency:
Zion Properties, LLC
(509) 539-3061
Listed By:
Susie Rodriguez
(509) 539-3061
Source:
Exprealty
Added: Jul 29
Changed: Aug 14
Last Checked: Aug 14 at 6:38AM
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 Zion Properties, LLC
Investment Insights
Based on property information with market context.
This two-story duplex in Grandview includes two separate residential units and a basement used for storage. Unit A contains 3 bedrooms, 1 bath, and 1320 sq.ft., while Unit B offers 2 bedrooms, 1 bath, and 1080 sq.ft. The basement adds 1080 sq.ft. of storage area.
The property is located at 200 E 3rd St in Grandview, WA. It requires TLC, providing a residential income property configuration with defined unit layouts and additional basement space.
The property is located at 200 E 3rd St in Grandview, WA. It requires TLC, providing a residential income property configuration with defined unit layouts and additional basement space.
Key Highlights
- Two‑story duplex with basement
- Unit A: 3 bedrooms, 1 bath, 1320 sq.ft.
- Unit B: 2 bedrooms, 1 bath, 1080 sq.ft.
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
$23,455
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
8.09%
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%
$469,100
$469.1K
Cap Rate 7%
$335,071
$335.1K
Cap Rate 9%
$260,611
$260.6K
Market Conditions
NOI Build-Up for 2,400 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
$45.8K $19.08/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$42.6K $17.77/SF
− OpEx
−$19.2K −$8.00/SF
NOI
$23.5K $9.77/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$469,100
Cap Rate 7%
$335,071
Cap Rate 9%
$260,611
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.1K
NOI $26,946 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$335.1K
$293.2K – $390.9K
NOI $23,455 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$487.4K
$426.5K – $568.6K
NOI $34,117 @ 7.0% cap · market cap 11.77%
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
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 98930, WA
15,339
Population
4,910
Households
3.1
Avg Household Size
30
Median Age
9%
College-Educated
67%
High-School Grad
44.9 sq mi
ZIP Area
342
Density / Sq Mi
$67,798
Median Household Income
$34,675
Median Earnings
$980
Median Rent
$277,600
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 - Income-producing residential property with two separate units and basement storage.
Where is this duplex located?
The property is located at 200 E 3rd St Grandview, WA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑story duplex with basement; Unit A: 3 bedrooms, 1 bath, 1320 sq.ft.; Unit B: 2 bedrooms, 1 bath, 1080 sq.ft.
