Triplex with Fenced
For Sale
$480,000
3211 W John Day Ave, Kennewick, WA 99336
Three residential units offer private outdoor space, storage sheds, and on-site parking.
Property Size2,065 SF
Price / SF$232.45
Days on Market13
Property Features for 3211 W John Day Ave
General Information
Standard status
Active
Size
2,065 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
washer and dryer hookups
fenced yards
storage shed
paved parking lot
security light
Building Details
Year Built
1963
Buildings
1
Listing Agency:
Dk Bain Real Estate, Inc
(509) 949-1771
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 30 at 4:37PM
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 Dk Bain Real Estate, Inc
Investment Insights
Based on property information with market context.
Built in 1963, this 2,065-square-foot triplex contains three residential units. Each unit includes a kitchen, eating area, family room, one bathroom, and washer and dryer hookups. Refrigerators, washers, and dryers in the units remain with the property.
Two units feature large, fully fenced yards with individual storage sheds. The property also includes a paved parking lot with a security light, providing space for cars and RV parking. The combination of multiple units, private yard areas, storage, and on-site parking supports residential income use.
Two units feature large, fully fenced yards with individual storage sheds. The property also includes a paved parking lot with a security light, providing space for cars and RV parking. The combination of multiple units, private yard areas, storage, and on-site parking supports residential income use.
Key Highlights
- 2,065‑square‑foot triplex with 3 residential units
- Each unit includes 1 bathroom, kitchen, eating area, family room, and washer and dryer hookups
- Washers, dryers, and refrigerators in each unit remain with the property
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
$17,962
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
3.74%
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%
$359,240
$359.2K
Cap Rate 7%
$256,600
$256.6K
Cap Rate 9%
$199,578
$199.6K
Market Conditions
NOI Build-Up for 2,065 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
$28.0K $13.56/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$25.7K $12.43/SF
− OpEx
−$7.7K −$3.73/SF
NOI
$18.0K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$359,240
Cap Rate 7%
$256,600
Cap Rate 9%
$199,578
Alternative Uses
Best Use
Multifamily LT 5
$256.6K
$224.5K – $299.4K
NOI $17,962 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$227.3K
$198.9K – $265.2K
NOI $15,910 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$572.8K
$501.2K – $668.2K
NOI $40,093 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
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?
Triplex - Three residential units offer private outdoor space, storage sheds, and on-site parking.
Where is this triplex located?
The property is located at 3211 W John Day Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,065‑square‑foot triplex with 3 residential units; Each unit includes 1 bathroom, kitchen, eating area, family room, and washer and dryer hookups; Washers, dryers, and refrigerators in each unit remain with the property
