Renovated Fourplex with Covered
For Sale
$1,099,000
2211 Y St, Vancouver, WA 98661
Four rental units feature private outdoor areas, updated finishes, stainless steel appliances, and dedicated storage.
Property Size3,504 SF
Price / SF$313.64
Days on Market30
Property Features for 2211 Y St
General Information
Standard status
Active
Size
3,504 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
yard and patio
private storage
Building Details
Year Built
1966
Buildings
1
Construction
HardiPlank siding
Listing Agency:
Keller Williams Realty
(360) 921-6527
Listed By:
Jeff Wunder, Lisa Wunder · License #39935
Source:
Foxrealestategroups
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 29 at 12:32PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This fourplex at 2211 Y St in Vancouver, WA, was built in 1966 and has undergone extensive renovation. The property includes HardiPlank siding, a metal roof, vinyl windows, stainless steel appliances, and newer luxury vinyl plank flooring. Some plumbing has also been updated.
Each of the four units includes a private yard and patio, along with a dedicated storage unit. Covered parking accommodates four vehicles, with additional parking available on the property. The existing configuration provides four separate residential units on a large lot. Tenant privacy is requested during property visits.
Each of the four units includes a private yard and patio, along with a dedicated storage unit. Covered parking accommodates four vehicles, with additional parking available on the property. The existing configuration provides four separate residential units on a large lot. Tenant privacy is requested during property visits.
Key Highlights
- Four‑unit residential property at 2211 Y St, Vancouver, WA 98661
- Built in 1966 with extensive renovation updates
- HardiPlank siding, metal roof, vinyl windows, and newer luxury vinyl plank flooring
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
$46,819
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
4.26%
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%
$936,380
$936.4K
Cap Rate 7%
$668,843
$668.8K
Cap Rate 9%
$520,211
$520.2K
Market Conditions
NOI Build-Up for 3,504 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
$70.2K $20.04/SF
− Vacancy
−$3.3K −$0.95/SF
EGI
$66.9K $19.09/SF
− OpEx
−$20.1K −$5.73/SF
NOI
$46.8K $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%
$936,380
Cap Rate 7%
$668,843
Cap Rate 9%
$520,211
Alternative Uses
Best Use
Multifamily LT 5
$668.8K
$585.2K – $780.3K
NOI $46,819 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$580.6K
$508.1K – $677.4K
NOI $40,645 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$857.3K
$750.2K – $1.00M
NOI $60,013 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 98661, WA
48,983
Population
22,291
Households
2.2
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,494
Density / Sq Mi
$75,037
Median Household Income
$43,920
Median Earnings
$1,440
Median Rent
$424,700
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?
Quadplex - Four rental units feature private outdoor areas, updated finishes, stainless steel appliances, and dedicated storage.
Where is this quadplex located?
The property is located at 2211 Y St Vancouver, WA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Four‑unit residential property at 2211 Y St, Vancouver, WA 98661; Built in 1966 with extensive renovation updates; HardiPlank siding, metal roof, vinyl windows, and newer luxury vinyl plank flooring
