Remodeled Duplex with Finished
For Sale
$869,900
2617 E McLoughlin Blvd, Vancouver, WA 98661
Two residences feature additional finished living and storage areas, along with territorial and river views.
Property Size4,856 SF
Days on Market45
Property Features for 2617 E McLoughlin Blvd
General Information
Standard status
Active
Size
4,856 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
R-9
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,380
Building Details
Building Size
4,856 SF
Year Built
1972
Stories
2
Units
2
Listing Agency:
eXp Realty LLC
(480) 714-5684
Listed By:
Michael Sines · License #125590
(480) 714-5684
Source:
Allprofessionalsre
Added: Jun 29
Changed: Aug 11
Last Checked: Aug 11 at 2:00PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This remodeled duplex includes two separate residences, each with territorial and river views. Both units provide finished basements that expand the available living area and offer substantial storage. Recent improvements include a newer roof, interior and exterior paint, updated flooring, fixtures, cabinetry, and stainless steel appliances.
The property occupies just under 1/2 acre and is zoned R-9. Its Vancouver setting places the duplex near Clark College, providing a defined nearby institutional landmark. Built in 1972, the property combines a two-unit configuration with extensive updates and additional finished lower-level space.
The property occupies just under 1/2 acre and is zoned R-9. Its Vancouver setting places the duplex near Clark College, providing a defined nearby institutional landmark. Built in 1972, the property combines a two-unit configuration with extensive updates and additional finished lower-level space.
Key Highlights
- Remodeled duplex with two separate residences
- Finished basements in both units provide added living area and storage
- Territorial and river views from each unit
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
$64,884
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
7.46%
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%
$1,297,680
$1.3M
Cap Rate 7%
$926,914
$926.9K
Cap Rate 9%
$720,933
$720.9K
Market Conditions
NOI Build-Up for 4,856 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
$97.3K $20.04/SF
− Vacancy
−$4.6K −$0.95/SF
EGI
$92.7K $19.09/SF
− OpEx
−$27.8K −$5.73/SF
NOI
$64.9K $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%
$1,297,680
Cap Rate 7%
$926,914
Cap Rate 9%
$720,933
Alternative Uses
Best Use
Multifamily LT 5
$926.9K
$811.1K – $1.08M
NOI $64,884 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$804.7K
$704.1K – $938.8K
NOI $56,327 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,169 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
963
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?
Duplex - Two residences feature additional finished living and storage areas, along with territorial and river views.
Where is this duplex located?
The property is located at 2617 E McLoughlin Blvd Vancouver, WA.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: Remodeled duplex with two separate residences; Finished basements in both units provide added living area and storage; Territorial and river views from each unit
