Single-Level Duplex with
For Sale
$525,000
202 SE 157TH AVE, Vancouver, WA 98684
Both residences offer private outdoor space, fireplaces, storage sheds, and driveway parking suitable for RVs.
Property Size1,800 SF
Days on Market136
Property Features for 202 SE 157TH AVE
General Information
Standard status
Active
Size
1,800 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,000
Amenities
fireplace
private backyards
outdoor storage sheds
Building Details
Building Size
1,800 SF
Year Built
1972
Listing Agency:
Windermere Northwest Living
(360) 260-3253
Listed By:
Dale Chumbley
(360) 260-3253
Source:
Eleeterealestate
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 9 at 11:46AM
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 Windermere Northwest Living
Investment Insights
Based on property information with market context.
Built in 1972, this duplex contains two single-level residences, each arranged with 2 bedrooms and 1 bathroom. Both units include a fireplace, a private backyard, and access to an outdoor storage shed. Separate driveways provide space for RV parking, adding practical utility for occupants.
The property is located in Vancouver’s Hearthwood neighborhood, near shopping, restaurants, and everyday services. It is fully occupied by long-term tenants, providing an established residential income profile. Brick accents and mature trees contribute to the property’s existing character.
The property is located in Vancouver’s Hearthwood neighborhood, near shopping, restaurants, and everyday services. It is fully occupied by long-term tenants, providing an established residential income profile. Brick accents and mature trees contribute to the property’s existing character.
Key Highlights
- Two‑unit duplex built in 1972
- Each unit includes 2 bedrooms and 1 bathroom
- Single‑level layouts with a fireplace in each unit
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
$24,051
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
4.58%
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%
$481,020
$481.0K
Cap Rate 7%
$343,586
$343.6K
Cap Rate 9%
$267,233
$267.2K
Market Conditions
NOI Build-Up for 1,800 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
$36.1K $20.04/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$34.4K $19.09/SF
− OpEx
−$10.3K −$5.73/SF
NOI
$24.1K $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%
$481,020
Cap Rate 7%
$343,586
Cap Rate 9%
$267,233
Alternative Uses
Best Use
Multifamily LT 5
$343.6K
$300.6K – $400.9K
NOI $24,051 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$298.3K
$261.0K – $348.0K
NOI $20,879 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$440.4K
$385.4K – $513.8K
NOI $30,829 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 98684, WA
33,659
Population
14,355
Households
2.3
Avg Household Size
37
Median Age
29%
College-Educated
90%
High-School Grad
7.1 sq mi
ZIP Area
4,741
Density / Sq Mi
$88,044
Median Household Income
$48,108
Median Earnings
$1,847
Median Rent
$442,100
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 - Both residences offer private outdoor space, fireplaces, storage sheds, and driveway parking suitable for RVs.
Where is this duplex located?
The property is located at 202 SE 157TH AVE Vancouver, WA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1972; Each unit includes 2 bedrooms and 1 bathroom; Single‑level layouts with a fireplace in each unit
