Updated Duplex with Enclosed
2424 99th Ave NE, Lake Stevens, WA 98258
For Sale
$850,000
Two-level units include private outdoor space and refreshed interiors.
Property Size2,400 SF
Price / SF$354.17
Days on Market99
Property Features for 2424 99th Ave NE
General Information
Standard status
Size
Property subtype
Additional Details
Cap Rate
Highway Access
Building Details
Year Built
Listing Agency:
Real Residential
Listed By:
Jessica Schmuland
(206) 342-0200
Source:
Lifestylehomeswithmel
Added: Aug 2
Changed: Nov 4
Last Checked: Nov 8 at 9:45AM
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 Real Residential
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This updated duplex at 2424 99th Ave NE in Lake Stevens includes two residential units, each arranged across two levels. The main floor provides an open living area, an updated kitchen, and a half bath, while the upper floor contains bedrooms and a full bath. Recent improvements give the interiors a refreshed presentation, and former carports have been enclosed as garages for each unit. Private backyards add individual outdoor space.
The property is located just blocks from Lundeen Park and neighborhood amenities, with access to I-5, Highway 9, and Frontier Village. The investment profile includes a stated 6% cap rate.
The property is located just blocks from Lundeen Park and neighborhood amenities, with access to I-5, Highway 9, and Frontier Village. The investment profile includes a stated 6% cap rate.
Key Highlights
- Two‑unit duplex with two‑story layouts
- Updated kitchens, refreshed interiors, and recent property improvements
- Each unit includes an enclosed garage converted from a former carport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,008
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$800,160
$800.2K
Cap Rate 7%
$571,543
$571.5K
Cap Rate 9%
$444,533
$444.5K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$60.5K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$57.2K $23.81/SF
− OpEx
−$17.1K −$7.14/SF
NOI
$40.0K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$800,160
Cap Rate 7%
$571,543
Cap Rate 9%
$444,533
Alternative Uses
Best Use
Multifamily LT 5
$571.5K
$500.1K – $666.8K
NOI $40,008 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$512.8K
$448.7K – $598.3K
NOI $35,897 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$669.3K
$585.7K – $780.9K
NOI $46,852 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 98258, WA
51,995
Population
18,397
Households
2.8
Avg Household Size
36
Median Age
32%
College-Educated
94%
High-School Grad
37.1 sq mi
ZIP Area
1,401
Density / Sq Mi
$120,571
Median Household Income
$63,208
Median Earnings
$2,187
Median Rent
$606,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two-level units include private outdoor space and refreshed interiors.
Where is this duplex located?
The property is located at 2424 99th Ave NE Lake Stevens, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex with two‑story layouts; Updated kitchens, refreshed interiors, and recent property improvements; Each unit includes an enclosed garage converted from a former carport
