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    Two-Unit Residential Duplex with Separate Meters Title is generated by Realmo AI

    2917 & 2917 1/2 Peabody Street, Port Angeles, WA 98362

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    Pending
    $450,000

    MULTI_FAMILY - Port Angeles, WA

    Property size:
    1,862 SF
    Lot size:
    0.34 Acres
    Added:
    Apr 13, 2026
    Days on Market:
    52
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for 2917 & 2917 1/2 Peabody Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Guest, Covered
    Appliances
    Dryer, Refrigerator, Range Hood, Range/Oven, Washer
    Standard status
    Pending
    APN
    063015512570
    Size
    1,862 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    See associated documents
    Tax Annual Amount
    3394

    Utilities

    Heating system
    Electric (Heating), Baseboard

    Building Details

    Year built
    1923
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl, Carpet
    Roof type
    Composition

    We can help!

    Listing Contact
    Kelly Johnson
    Kelly Johnson

    Listing agent Kelly Johnson License #27035

    Listing office Windermere Port Angeles 711 E Front Street, Port angeles, WA

    Listing date Apr 13, 2026

    MLS# 400417 Listing URL

    Copyright © 2026 Olympic Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two homes on one property with separate utility meters and proven rental history; main home is currently rented for $1,950/month
    • Main home (built 1923) has recently replaced roof, new crawlspace insulation, and double‑pane windows; includes a large living room and kitchen with dining area
    • Main home layout: primary bedroom with ensuite half bath, two guest bedrooms, and a full bathroom; tenant lease ends in May and converts to month‑to‑month
    • Back home is a one‑level 2 bed/1 bath (believed built in the 1950s) with luxury vinyl plank flooring, fresh interior paint, updated light fixtures, and refreshed kitchen
    • Both homes have new composition roof layers; includes workshop off carport with subpanel, plus plenty of on‑site parking with fresh gravel
    • Appliances included: washer, dryer, refrigerator, range/oven, and range hood; partial views of the Strait of Juan de Fuca and the Olympic Mountains

    Overview

    This two-unit residential property contains two separate, well-cared-for homes on one lot, with separate utility meters. The main home features a living room, kitchen with dining area, a primary bedroom with an ensuite half bath, two guest bedrooms, and a full bathroom. Reported improvements include a recently replaced roof, new crawlspace insulation, and double-pane windows, along with a workshop off the carport with a subpanel that adds practical utility and storage. The back home is a one-level 2-bedroom, 1-bath layout that has been recently remodeled with luxury vinyl plank flooring, fresh interior paint, updated light fixtures, and a refreshed kitchen, along with a new composition roof layer. Both homes include their appliances and have experienced some updated electrical and plumbing work.

    The property is located at 2917 & 2917 1/2 Peabody Street in Port Angeles, Washington. Each home has its own carport space and storage, and the site provides plenty of on-site parking with fresh gravel. The homes also share partial views of the Strait of Juan de Fuca and the Olympic Mountains, and the listing notes an outdoor sitting area with umbrella and chairs.

    For tenants or owner-occupants, the configuration supports flexible living arrangements: one unit can be used while the other helps offset expenses. The listing states the main home is currently rented, with tenants who would like to stay and a lease ending in May that will convert to month-to-month. With two separate meters, the setup can also be attractive to buyers looking to manage each unit independently.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Angeles
    County
    Clallam
    State
    Washington
    Longitude
    -123.437392
    Latitude
    48.09922

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    FAQs

    What type of property is this?
    Duplex - Two well-maintained homes on one lot with separate utility meters and ample parking, offering flexible rental or owner-occupant use.
    Where is this duplex located?
    The property is located at 2917 & 2917 1/2 Peabody Street Port Angeles, 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: Two homes on one property with separate utility meters and proven rental history; main home is currently rented for $1,950/month; Main home (built 1923) has recently replaced roof, new crawlspace insulation, and double‑pane windows; includes a large living room and kitchen with dining area; Main home layout: primary bedroom with ensuite half bath, two guest bedrooms, and a full bathroom; tenant lease ends in May and converts to month‑to‑month
    (360) 477-5876
    We can help!
    Listing Contact
    Kelly Johnson
    Kelly Johnson
    Real Estate License ID: 27035
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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