Updated 2-Unit
For Sale
$369,000
Pending
241 Tausick Way, Walla Walla, WA 99362
Both residences are occupied near Walla Walla Community College and Mill Creek Sports Complex.
Property Size2,116 SF
Days on Market70
Property Features for 241 Tausick Way
General Information
Standard status
Pending
Size
2,116 SF
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$16,348
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,710
Amenities
0, 0, 0, 0
No
Yes, Wall Unit(s)
Yes, Baseboard
Carpet
Composition
Wood
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Coldwell Banker Walla Walla
(509) 525-0820
Listed By:
Tom Craig · License #73031
(509) 525-0820
Source:
Compass
Added: Jun 22
Changed: Aug 29
Last Checked: Aug 29 at 9:32PM
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 Coldwell Banker Walla Walla
Investment Insights
Based on property information with market context.
Built in 1978, this 2,116-square-foot duplex offers two residential sides with both currently occupied. Interior features include carpet, baseboard heat, and wall units. The exterior combines composition and wood materials, with repainting completed last year along with some new siding and vinyl windows.
The property is located near Walla Walla Community College and Mill Creek Sports Complex. The roof was replaced in 2014, and the property has an established rental history. Its duplex configuration supports continued rental use or owner occupancy of one side while the other remains leased, as described by the current occupancy setup.
The property is located near Walla Walla Community College and Mill Creek Sports Complex. The roof was replaced in 2014, and the property has an established rental history. Its duplex configuration supports continued rental use or owner occupancy of one side while the other remains leased, as described by the current occupancy setup.
Key Highlights
- 2,116‑square‑foot duplex with both sides currently occupied
- Roof replaced in 2014
- Exterior repainted last year
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
$17,270
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
4.68%
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%
$345,400
$345.4K
Cap Rate 7%
$246,714
$246.7K
Cap Rate 9%
$191,889
$191.9K
Market Conditions
NOI Build-Up for 2,116 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
$25.6K $12.12/SF
− Vacancy
−$975 −$0.46/SF
EGI
$24.7K $11.66/SF
− OpEx
−$7.4K −$3.50/SF
NOI
$17.3K $8.16/SF
Area
Walla Walla County, WA
Vacancy
3.80%
Lease Rate
$12.12 /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%
$345,400
Cap Rate 7%
$246,714
Cap Rate 9%
$191,889
Alternative Uses
Best Use
Multifamily LT 5
$246.7K
$215.9K – $287.8K
NOI $17,270 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$215.5K
$188.5K – $251.4K
NOI $15,083 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$498.0K
$435.7K – $581.0K
NOI $34,858 @ 7.0% cap · market cap 9.45%
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
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 99362, WA
43,249
Population
18,022
Households
2.4
Avg Household Size
40
Median Age
31%
College-Educated
90%
High-School Grad
303.1 sq mi
ZIP Area
143
Density / Sq Mi
$70,660
Median Household Income
$37,236
Median Earnings
$1,148
Median Rent
$398,000
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 - Both residences are occupied near Walla Walla Community College and Mill Creek Sports Complex.
Where is this duplex located?
The property is located at 241 Tausick Way Walla Walla, WA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 2,116‑square‑foot duplex with both sides currently occupied; Roof replaced in 2014; Exterior repainted last year
