Remodeled Two-Unit
New
For Sale
$689,900
2104 Rockefeller Unit 1716, Everett, WA 98201
Two separate residences feature private entrances, outdoor areas, updated kitchens, and renovated bathrooms.
Property Size1,748 SF
Price / SF$394.68
Days on Market5
Property Features for 2104 Rockefeller Unit 1716
General Information
Standard status
Active
Size
1,748 SF
Total Parking Spaces
5
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1890
Buildings
1
Stories
2
Listing Agency:
Skyline Properties,Inc.
(253) 905-8841
Listed By:
Victor Zacapu
(253) 905-8841
Source:
Skylineproperties
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 2:23PM
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 Skyline Properties,Inc.
Investment Insights
Based on property information with market context.
This two-story duplex contains two distinct residences with separate entrances and private outdoor areas. Unit A offers 1,104 square feet with two bedrooms, one bathroom, washer and dryer hookups, an open living, dining, and kitchen arrangement, plus a breakfast bar. Its 2023 renovation included quartz kitchen surfaces, updated appliances, waterproof laminate flooring, new windows, ductless mini-split heating and cooling, and a bathroom with marble tile shower walls and a modern vanity.
Unit B provides 644sq/ft, two bedrooms, and one bathroom, along with a new kitchen, appliances, waterproof laminate flooring, and a tiled bathroom with vanity. The property also includes a two-car garage, three uncovered parking spaces, and additional street parking. It is located in Everett near downtown, the waterfront, restaurants, shopping, parks, transit, and commuter routes.
Unit B provides 644sq/ft, two bedrooms, and one bathroom, along with a new kitchen, appliances, waterproof laminate flooring, and a tiled bathroom with vanity. The property also includes a two-car garage, three uncovered parking spaces, and additional street parking. It is located in Everett near downtown, the waterfront, restaurants, shopping, parks, transit, and commuter routes.
Key Highlights
- Two‑story duplex with 1,104 sq. ft. Unit A and 644sq/ft Unit B
- Unit A remodeled in 2023 with quartz kitchen finishes and ductless mini‑split HVAC
- Unit B includes a new kitchen, appliances, flooring, and tiled bathroom
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
$28,932
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
4.19%
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%
$578,640
$578.6K
Cap Rate 7%
$413,314
$413.3K
Cap Rate 9%
$321,467
$321.5K
Market Conditions
NOI Build-Up for 1,748 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
$44.0K $25.20/SF
− Vacancy
−$2.7K −$1.55/SF
EGI
$41.3K $23.65/SF
− OpEx
−$12.4K −$7.09/SF
NOI
$28.9K $16.55/SF
Area
Everett, WA
Vacancy
6.17%
Lease Rate
$25.20 /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%
$578,640
Cap Rate 7%
$413,314
Cap Rate 9%
$321,467
Alternative Uses
Best Use
Multifamily LT 5
$413.3K
$361.7K – $482.2K
NOI $28,932 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$369.8K
$323.6K – $431.5K
NOI $25,889 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$578.6K
$506.3K – $675.0K
NOI $40,502 @ 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
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 98201, WA
30,421
Population
15,196
Households
2
Avg Household Size
39
Median Age
29%
College-Educated
91%
High-School Grad
18.8 sq mi
ZIP Area
1,618
Density / Sq Mi
$73,822
Median Household Income
$48,830
Median Earnings
$1,443
Median Rent
$476,900
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 separate residences feature private entrances, outdoor areas, updated kitchens, and renovated bathrooms.
Where is this duplex located?
The property is located at 2104 Rockefeller Unit 1716 Everett, WA.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Two‑story duplex with 1,104 sq. ft. Unit A and 644sq/ft Unit B; Unit A remodeled in 2023 with quartz kitchen finishes and ductless mini‑split HVAC; Unit B includes a new kitchen, appliances, flooring, and tiled bathroom
