Duplex With Baseboard
For Sale
$475,000
2027 THOMPSON Ave, Vancouver, WA 98660
MultiFamily, Vancouver, WA
Property Size1,560 SF
Lot Size0.12 Acres
Price / SF$304.49
Days on Market141
Property Features for 2027 THOMPSON Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bathroom 1
Elementary school
Fruit Valley
Middle school
Discovery
High school
Hudsons Bay
Directions
Mill Plain to Thompson
Subdivision
_11
Standard status
Active
APN
062335000
Size
1,560 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
HOME ADDN LOT 3 BLK 6 FOR ASSESSOR USE ONLY HOME ADDN LOT 3 BLK 6
Tax Annual Amount
4261
Legal Description
HOME ADDN LOT 3 BLK 6 FOR ASSESSOR USE ONLY HOME ADDN LOT 3 BLK 6
Utilities
Heating system
Baseboard
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Listing Agency:
Premiere Property Group, LLC
(360) 693-6139
Listed By:
Tracy Owen
(360) 567-5500
Added: Apr 17
Changed: Sep 4
Last Checked: Sep 4 at 9:06AM
MLS# 676117182
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 two-unit residential property at 2027 THOMPSON Ave in Vancouver, WA, contains 1,560 square feet on a 0.12-acre lot. Constructed in 1974, the duplex is heated by baseboard systems and includes bedroom and bathroom spaces. One unit is currently occupied, providing an existing occupancy component for a purchaser to consider.
The property is located in Vancouver’s 98660 postal area within Clark County and carries R-9 zoning. Its duplex configuration, residential zoning, and established improvements support continued use as a residential income property.
The property is located in Vancouver’s 98660 postal area within Clark County and carries R-9 zoning. Its duplex configuration, residential zoning, and established improvements support continued use as a residential income property.
Key Highlights
- Two‑unit duplex at 2027 THOMPSON Ave, Vancouver, WA 98660
- 1,560 square feet on a 0.12‑acre lot
- R‑9 zoning
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
$20,844
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
4.39%
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%
$416,880
$416.9K
Cap Rate 7%
$297,771
$297.8K
Cap Rate 9%
$231,600
$231.6K
Market Conditions
NOI Build-Up for 1,560 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
$31.3K $20.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$29.8K $19.09/SF
− OpEx
−$8.9K −$5.73/SF
NOI
$20.8K $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%
$416,880
Cap Rate 7%
$297,771
Cap Rate 9%
$231,600
Alternative Uses
Best Use
Multifamily LT 5
$297.8K
$260.6K – $347.4K
NOI $20,844 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,095 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$381.7K
$334.0K – $445.3K
NOI $26,718 @ 7.0% cap · market cap 5.62%
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
286
Businesses Nearby
Explore this area
Business Placement
Demographics for 98660, WA
12,735
Population
7,048
Households
1.8
Avg Household Size
39
Median Age
38%
College-Educated
91%
High-School Grad
15.3 sq mi
ZIP Area
832
Density / Sq Mi
$65,147
Median Household Income
$51,895
Median Earnings
$1,408
Median Rent
$444,300
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 - Residential income property with one occupied unit and R-9 zoning.
Where is this duplex located?
The property is located at 2027 THOMPSON Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex at 2027 THOMPSON Ave, Vancouver, WA 98660; 1,560 square feet on a 0.12‑acre lot; R‑9 zoning
