Side-by-Side Duplex with
New
For Sale
$350,000
300 W 3rd St, Aberdeen, WA 98520
Two-story duplex on a corner lot with separate units, private basement storage, and washer/dryer hookups.
Property Size2,840 SF
Price / SF$123.24
Days on Market3
Property Features for 300 W 3rd St
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,400
Building Details
Year Built
1915
Buildings
1
Stories
2
Listing Agency:
First Harbor Real Estate, Inc.
Listed By:
Kristi Norberg
Source:
Navidirealty
Added: Sep 11
Last Checked: Sep 13 at 11:55AM
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 First Harbor Real Estate, Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two two-story units, each measuring 1,420 square feet with an additional 690 square feet of private basement storage. Both basements include washer/dryer hookups. Unit 300 offers three bedrooms and two bathrooms, while Unit 302 includes three bedrooms and one-and-a-half bathrooms. The roof was replaced in 2015, and the property was built in 1915.
Positioned on a corner lot at 300 W 3rd St in Aberdeen, the property is near schools, shopping, parks, and ocean beaches. The separate unit layout provides distinct residential spaces within one multifamily property.
Positioned on a corner lot at 300 W 3rd St in Aberdeen, the property is near schools, shopping, parks, and ocean beaches. The separate unit layout provides distinct residential spaces within one multifamily property.
Key Highlights
- Two side‑by‑side units, each with 1,420 square feet across two stories
- Each unit includes 690 square feet of private basement storage
- Unit 300 has 3 bedrooms and 2 bathrooms; Unit 302 has 3 bedrooms and 1.5 bathrooms
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
$25,926
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
7.41%
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%
$518,520
$518.5K
Cap Rate 7%
$370,371
$370.4K
Cap Rate 9%
$288,067
$288.1K
Market Conditions
NOI Build-Up for 2,840 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
$39.2K $13.80/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$37.0K $13.04/SF
− OpEx
−$11.1K −$3.91/SF
NOI
$25.9K $9.13/SF
Area
Grays Harbor County, WA
Vacancy
5.50%
Lease Rate
$13.80 /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%
$518,520
Cap Rate 7%
$370,371
Cap Rate 9%
$288,067
Alternative Uses
Best Use
Multifamily LT 5
$370.4K
$324.1K – $432.1K
NOI $25,926 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$343.4K
$300.5K – $400.7K
NOI $24,039 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$782.9K
$685.0K – $913.4K
NOI $54,801 @ 7.0% cap · market cap 15.66%
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
1,006
Businesses Nearby
Explore this area
Business Placement
Demographics for 98520, WA
24,086
Population
9,333
Households
2.6
Avg Household Size
41
Median Age
14%
College-Educated
89%
High-School Grad
217.5 sq mi
ZIP Area
111
Density / Sq Mi
$59,744
Median Household Income
$34,591
Median Earnings
$1,034
Median Rent
$237,000
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 - Two-story duplex on a corner lot with separate units, private basement storage, and washer/dryer hookups.
Where is this duplex located?
The property is located at 300 W 3rd St Aberdeen, WA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 1,420 square feet across two stories; Each unit includes 690 square feet of private basement storage; Unit 300 has 3 bedrooms and 2 bathrooms; Unit 302 has 3 bedrooms and 1.5 bathrooms
