Duplex with Tree-Lined
For Sale
Contact for pricing
3002 E 19th St, Bremerton, WA 98310
Two residences include a three-bedroom upper unit and an updated one-bedroom lower unit.
Property Size1,650 SF
Price / SF$257.58
Days on Market140
Property Features for 3002 E 19th St
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
Residential
Property Condition
Severity
Repairs Needed
Evidence
needs some love
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1942
Buildings
1
Stories
1
Units
2
Listing Agency:
RE/MAX Parkside Affiliates
(360) 480-9387
Listed By:
Thomas Schrader · License #WA 118109
Source:
Crexi
Added: Apr 15
Changed: Aug 31
Last Checked: Aug 31 at 4:35AM
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 RE/MAX Parkside Affiliates
Investment Insights
Based on property information with market context.
Built in 1942, this 1,650-square-foot duplex contains a three-bedroom upper residence and a one-bedroom lower residence. The upper unit has had the same occupant for 30 years, while the lower unit received updates during turnover. The property includes an asphalt driveway and a private yard surrounded by trees at the end of the road.
The duplex is located in Bremerton’s Manette Uplands neighborhood, near local shops, cafes, and parks. Downtown Bremerton, Puget Sound Naval Shipyard, and the Seattle ferry are also identified as nearby destinations. Long-term occupants are in place, including a tenant in the upper unit who wishes to remain.
The duplex is located in Bremerton’s Manette Uplands neighborhood, near local shops, cafes, and parks. Downtown Bremerton, Puget Sound Naval Shipyard, and the Seattle ferry are also identified as nearby destinations. Long-term occupants are in place, including a tenant in the upper unit who wishes to remain.
Key Highlights
- 1,650‑square‑foot duplex built in 1942
- Three‑bedroom upper unit and one‑bedroom lower unit
- Upper unit occupied by the same tenant for 30 years
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
$19,312
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
4.54%
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%
$386,240
$386.2K
Cap Rate 7%
$275,886
$275.9K
Cap Rate 9%
$214,578
$214.6K
Market Conditions
NOI Build-Up for 1,650 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
$30.3K $18.36/SF
− Vacancy
−$2.7K −$1.64/SF
EGI
$27.6K $16.72/SF
− OpEx
−$8.3K −$5.02/SF
NOI
$19.3K $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 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%
$386,240
Cap Rate 7%
$275,886
Cap Rate 9%
$214,578
Alternative Uses
Best Use
Multifamily LT 5
$275.9K
$241.4K – $321.9K
NOI $19,312 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$253.7K
$222.0K – $296.0K
NOI $17,759 @ 7.0% cap · market cap 4.18%
Theoretical Best
Specialty Retail
$550.2K
$481.4K – $641.9K
NOI $38,513 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 98310, WA
21,580
Population
9,635
Households
2.2
Avg Household Size
37
Median Age
27%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$73,292
Median Household Income
$43,305
Median Earnings
$1,559
Median Rent
$421,600
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 include a three-bedroom upper unit and an updated one-bedroom lower unit.
Where is this duplex located?
The property is located at 3002 E 19th St Bremerton, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,650‑square‑foot duplex built in 1942; Three‑bedroom upper unit and one‑bedroom lower unit; Upper unit occupied by the same tenant for 30 years
