Updated Duplex-Style Property with
New
For Sale
$599,900
220709 E Game Farm Road, Kennewick, WA 99337
Two separate living areas support multigenerational households, shared living, or flexible residential income use.
Property Size2,800 SF
Lot Size1.46 Acres
Price / SF$214.25
Days on Market2
Property Features for 220709 E Game Farm Road
General Information
Standard status
Active
Size
2,800 SF
Lot size
1.46 Acres
Property subtype
Land
Additional Details
Road Access
Yes
Amenities
deck
private deck
fully-fenced yard
shade trees
shop/tack room
storage shed
hay shed
Building Details
Year Built
1990
Stories
2
Listing Agency:
Windermere Group One/Tri-Cities
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Sep 5
Last Checked: Sep 5 at 2:59PM
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 Group One/Tri-Cities
Investment Insights
Based on property information with market context.
This updated duplex-style property provides 2,800 square feet across two distinct living areas, with one residence on each level. The 6 BR, 4 BA layout includes two primary suites, updated kitchens, living rooms, laundry hookups, and bedroom flooring that combines hard-surface finishes with new carpet. The upper kitchen includes stainless appliances, butcher block counters, a backsplash, dining bar, and island, while both levels open to private outdoor living areas.
Set on 1.46 irrigated acres, the property includes a fully fenced yard, shade trees, a fenced field, and an elevated deck with views toward the surrounding hills. Additional improvements include a shop/tack room, hay shed, storage shed, four-car garage/carport, RV parking, and off-street parking. Finley Schools are located across the road. Built in 1990, the property offers a flexible residential configuration with substantial outdoor and storage space.
Set on 1.46 irrigated acres, the property includes a fully fenced yard, shade trees, a fenced field, and an elevated deck with views toward the surrounding hills. Additional improvements include a shop/tack room, hay shed, storage shed, four-car garage/carport, RV parking, and off-street parking. Finley Schools are located across the road. Built in 1990, the property offers a flexible residential configuration with substantial outdoor and storage space.
Key Highlights
- 2,800 SF duplex‑style layout with one living area on each level
- 6 BR, 4 BA configuration with two primary suites
- 1.46 irrigated acres with fenced yard and field
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
$24,356
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
4.06%
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%
$487,120
$487.1K
Cap Rate 7%
$347,943
$347.9K
Cap Rate 9%
$270,622
$270.6K
Market Conditions
NOI Build-Up for 2,800 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
$38.0K $13.56/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$34.8K $12.43/SF
− OpEx
−$10.4K −$3.73/SF
NOI
$24.4K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$487,120
Cap Rate 7%
$347,943
Cap Rate 9%
$270,622
Alternative Uses
Best Use
Multifamily LT 5
$347.9K
$304.5K – $405.9K
NOI $24,356 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$308.2K
$269.7K – $359.6K
NOI $21,573 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$776.6K
$679.5K – $906.1K
NOI $54,363 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 99337, WA
33,458
Population
11,725
Households
2.9
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
165.9 sq mi
ZIP Area
202
Density / Sq Mi
$90,227
Median Household Income
$49,829
Median Earnings
$1,347
Median Rent
$356,700
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 living areas support multigenerational households, shared living, or flexible residential income use.
Where is this duplex located?
The property is located at 220709 E Game Farm Road Kennewick, WA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,800 SF duplex‑style layout with one living area on each level; 6 BR, 4 BA configuration with two primary suites; 1.46 irrigated acres with fenced yard and field
