Duplex with Detached
For Sale
$650,000
308 Ne 50th St, Seattle, WA 98105
Two residential units include private laundry, separate entrances, and access to a shared driveway.
Property Size1,920 SF
Price / SF$338.54
Days on Market29
Property Features for 308 Ne 50th St
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Building Details
Year Built
1908
Listing Agency:
Keller Williams Realty Bothell
(253) 256-1721
Listed By:
Mark Hewitt
Source:
Pierceandkingcountyhouses
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 25 at 7:32AM
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 Keller Williams Realty Bothell
Investment Insights
Based on property information with market context.
This 1,920 SF duplex, built in 1908, contains two residential units of approximately 960 SF each. Both layouts provide 2 bedrooms, 1 bath, and a dedicated washer and dryer. The upper residence includes oak hardwood floors, formal dining space, and a spacious kitchen, while the lower unit offers high ceilings, abundant natural light, and a private entry.
A shared driveway serves a detached 1-car garage. The property also includes a flat backyard that can support outdoor use. Located at 308 NE 50th St in Seattle’s Wallingford area, the duplex is near transit, major commute routes, parks, dining, and everyday amenities.
A shared driveway serves a detached 1-car garage. The property also includes a flat backyard that can support outdoor use. Located at 308 NE 50th St in Seattle’s Wallingford area, the duplex is near transit, major commute routes, parks, dining, and everyday amenities.
Key Highlights
- Two‑unit duplex totaling 1,920 SF
- Each unit is approximately 960 SF with 2 bedrooms and 1 bath
- Private washer and dryer provided in 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
$34,655
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
5.33%
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%
$693,100
$693.1K
Cap Rate 7%
$495,071
$495.1K
Cap Rate 9%
$385,056
$385.1K
Market Conditions
NOI Build-Up for 1,920 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
$51.8K $27.00/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$49.5K $25.79/SF
− OpEx
−$14.9K −$7.74/SF
NOI
$34.7K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /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%
$693,100
Cap Rate 7%
$495,071
Cap Rate 9%
$385,056
Alternative Uses
Best Use
Multifamily LT 5
$495.1K
$433.2K – $577.6K
NOI $34,655 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$462.9K
$405.1K – $540.1K
NOI $32,405 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$577.6K
$505.4K – $673.9K
NOI $40,435 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 98105, WA
49,151
Population
20,582
Households
2.4
Avg Household Size
27
Median Age
77%
College-Educated
99%
High-School Grad
3.8 sq mi
ZIP Area
12,934
Density / Sq Mi
$78,691
Median Household Income
$34,947
Median Earnings
$1,803
Median Rent
$1,261,100
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 residential units include private laundry, separate entrances, and access to a shared driveway.
Where is this duplex located?
The property is located at 308 Ne 50th St Seattle, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,920 SF; Each unit is approximately 960 SF with 2 bedrooms and 1 bath; Private washer and dryer provided in both units
