Duplex with Private
For Sale
$525,000
202 SE 157TH Ave, Vancouver, WA 98684
MULTI_FAMILY - Vancouver, WA
Property Size1,800 SF
Lot Size0.19 Acres
Price / SF$291.67
Days on Market139
Property Features for 202 SE 157TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2
Subdivision
HEARTHWOOD
Elementary school
Mill Plain
Middle school
Pacific
High school
Evergreen
Directions
Mill Plain, N on SE 157th Avenue
Standard status
Active
APN
115301086
Size
1,800 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
CAMELOT CREST #2 LOT 13 FOR ASSESSOR USE ONLY EXC ALL OF LOT 14 &
Tax Annual Amount
5001
Legal Description
CAMELOT CREST #2 LOT 13 FOR ASSESSOR USE ONLY EXC ALL OF LOT 14 &
Utilities
Heating system
Baseboard
Amenities
fireplace
private backyards
outdoor storage sheds
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Windermere Northwest Living · Windermere Real Estate
(360) 253-3600
Listed By:
Dale Chumbley
(360) 260-3253
Added: Mar 27
Changed: Aug 12
Last Checked: Aug 12 at 2:06PM
MLS# 292966348
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.
This well-kept duplex offers comfortable single-level living with two bedrooms and one bathroom per unit. Both sides include a fireplace and good-sized private backyards, with outdoor storage sheds for added functionality. Each driveway provides space for RV parking, supporting flexible day-to-day use.
Built in 1972, the property totals 1,800 square feet and sits on a 0.19-acre lot. Heating is provided by baseboard systems, and the roof is composition.
The duplex is fully occupied with long-term tenants. Located at 202 SE 157TH Ave in Vancouver (98684, Clark County), it’s positioned for convenient access to everyday shopping, restaurants, and services.
Built in 1972, the property totals 1,800 square feet and sits on a 0.19-acre lot. Heating is provided by baseboard systems, and the roof is composition.
The duplex is fully occupied with long-term tenants. Located at 202 SE 157TH Ave in Vancouver (98684, Clark County), it’s positioned for convenient access to everyday shopping, restaurants, and services.
Key Highlights
- 1,800 SF duplex built in 1972 on a 0.19‑acre lot
- Two‑bedroom, one‑bath layout in each unit with single‑level living
- Fireplace in both units plus private backyards
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
Property Profile
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 - Well-kept duplex in Vancouver, WA zoned R-9, fully occupied with long-term tenants and private backyards for both units.
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: 1,800 SF duplex built in 1972 on a 0.19‑acre lot; Two‑bedroom, one‑bath layout in each unit with single‑level living; Fireplace in both units plus private backyards
