Duplex With Fenced
For Sale
$450,000
2811 Caples Ave, Vancouver, WA 98660
Two residences offer matching layouts, updated flooring, and private outdoor space near a community pool and park.
Property Size1,585 SF
Price / SF$283.91
Days on Market43
Property Features for 2811 Caples Ave
General Information
Standard status
Active
Size
1,585 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Coldwell Banker United Brokers
Listed By:
Matthew Bailey
(503) 810-1769
Source:
Rosecityrealtygroup
Added: Jul 22
Changed: Aug 29
Last Checked: Sep 1 at 8:41PM
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 United Brokers
Investment Insights
Based on property information with market context.
This 1,584-square-foot duplex, built in 1972, contains two residences with the same configuration: two bedrooms and one bathroom per unit. Each side includes a private fenced yard, while newer flooring and a newer roof provide recent property improvements.
Both units are occupied by the same tenants, each for more than three years. The property is located in Bagley Downs near a community swimming center and park, adding nearby recreational amenities to the residential setting.
Both units are occupied by the same tenants, each for more than three years. The property is located in Bagley Downs near a community swimming center and park, adding nearby recreational amenities to the residential setting.
Key Highlights
- 1,584‑square‑foot duplex built in 1972
- Each unit has 2 bedrooms and 1 bathroom
- Private fenced yard for both units
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
$21,178
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
4.71%
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%
$423,560
$423.6K
Cap Rate 7%
$302,543
$302.5K
Cap Rate 9%
$235,311
$235.3K
Market Conditions
NOI Build-Up for 1,585 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
$31.8K $20.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$30.3K $19.09/SF
− OpEx
−$9.1K −$5.73/SF
NOI
$21.2K $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%
$423,560
Cap Rate 7%
$302,543
Cap Rate 9%
$235,311
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $353.0K
NOI $21,178 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$262.6K
$229.8K – $306.4K
NOI $18,385 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$387.8K
$339.3K – $452.4K
NOI $27,146 @ 7.0% cap · market cap 6.03%
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
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 98660, WA
12,735
Population
7,048
Households
1.8
Avg Household Size
39
Median Age
38%
College-Educated
91%
High-School Grad
15.3 sq mi
ZIP Area
832
Density / Sq Mi
$65,147
Median Household Income
$51,895
Median Earnings
$1,408
Median Rent
$444,300
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 offer matching layouts, updated flooring, and private outdoor space near a community pool and park.
Where is this duplex located?
The property is located at 2811 Caples Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,584‑square‑foot duplex built in 1972; Each unit has 2 bedrooms and 1 bathroom; Private fenced yard for both units
