Duplex with Detached
For Sale
$275,000
2533 E 3rd St, Port Orchard, WA 98366
Flexible residential income property with updated interiors, a basement, and separate studio accommodations.
Property Size960 SF
Price / SF$286.46
Days on Market48
Property Features for 2533 E 3rd St
General Information
Standard status
Active
Size
960 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
deck
Building Details
Year Built
1941
Buildings
2
Listing Agency:
Great Northwest Real Estate
Listed By:
Joan Taie
(360) 876-5522
Source:
Mcardleteam
Added: Aug 20
Changed: Oct 4
Last Checked: Oct 6 at 12:31AM
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 Great Northwest Real Estate
Investment Insights
Based on property information with market context.
This duplex property combines a one-bedroom main home with a versatile bonus room and a detached studio ADU on one parcel. The primary residence includes laminate flooring throughout, an updated kitchen and bath, and a full bathroom. Its 300+/- sq. ft unfinished basement provides additional storage or space for future finishing. The approximately 300 sq. ft studio includes a 3/4 bath with shower, refrigerator, and stove/oven, along with a private deck.
Off-street parking serves both units. The property is located at 2533 E 3rd St in Port Orchard, WA, and is offered with a stated 7% return. The separate living areas may support rental income, multigenerational use, or guest accommodations, as described for the property.
Off-street parking serves both units. The property is located at 2533 E 3rd St in Port Orchard, WA, and is offered with a stated 7% return. The separate living areas may support rental income, multigenerational use, or guest accommodations, as described for the property.
Key Highlights
- Detached studio ADU is approximately 300 sq. ft
- Main home offers 1 bedroom, a bonus room, and a full bathroom
- 300+/- sq. ft unfinished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,236
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,720
$224.7K
Cap Rate 7%
$160,514
$160.5K
Cap Rate 9%
$124,844
$124.8K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$17.6K $18.36/SF
− Vacancy
−$1.6K −$1.64/SF
EGI
$16.1K $16.72/SF
− OpEx
−$4.8K −$5.02/SF
NOI
$11.2K $11.70/SF
Area
Kitsap County, WA
Vacancy
8.93%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,720
Cap Rate 7%
$160,514
Cap Rate 9%
$124,844
Alternative Uses
Best Use
Multifamily LT 5
$160.5K
$140.5K – $187.3K
NOI $11,236 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$147.6K
$129.2K – $172.2K
NOI $10,333 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$320.1K
$280.1K – $373.5K
NOI $22,408 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 98366, WA
36,969
Population
15,391
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
94%
High-School Grad
23.4 sq mi
ZIP Area
1,580
Density / Sq Mi
$88,807
Median Household Income
$51,884
Median Earnings
$1,704
Median Rent
$449,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible residential income property with updated interiors, a basement, and separate studio accommodations.
Where is this duplex located?
The property is located at 2533 E 3rd St Port Orchard, WA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Detached studio ADU is approximately 300 sq. ft; Main home offers 1 bedroom, a bonus room, and a full bathroom; 300+/- sq. ft unfinished basement
