Fenced-Yard
New
For Sale
$480,000
3211 W John Day Ave, Kennewick, WA 99336
MULTI_FAMILY - Kennewick, WA
Property Size2,065 SF
Lot Size0.41 Acres
Price / SF$232.45
Days on Market4
Property Features for 3211 W John Day Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
MULTI-FAMILY RE
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 2, Family Room, Dining Room, Bathroom 1, Bathroom 3, Bedroom 3
Parking features
RV, Off Street
Window features
Double Pane Windows
Patio and Porch features
Patio
Interior features
Carpets, Kitchen/Dining Room Combo, Drapes/Blinds, Family/Rec Room, Vinyl
Exterior features
Storage Building, Fencing/Enclosed
Fencing
Fenced
Appliances
Dryer, Refrigerator, Washer, Range
Subdivision
Kennewick West
Lot features
Loc in City Limits
Directions
From W. Canal Dr. South on N. Neel, Left at W. John Day Ave. 2nd unit on left past N. Johnson St.
Standard status
Active
APN
134994011302002
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
2193
Utilities
Utilities
Cable Available
Heating system
Wall Furnace, Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1963
Number of units
3
Flooring type
Carpet, Vinyl
Building materials
Block, Wood Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Tri-Cities Realty Group, LLC
(150) 954-6212
Listed By:
Clint Oliver · License #27517
(509) 366-1470
Added: Aug 17
Last Checked: Aug 20 at 7:06AM
MLS# 295629
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,065-square-foot triplex, built in 1963, contains three residential units with kitchens, dining areas, family rooms, bathrooms, and washer and dryer hookups. Appliances remaining with the property include refrigerators, ranges, washers, and dryers. Interior finishes include carpet and vinyl flooring, while heating is provided by electric wall and baseboard systems with wall-unit cooling.
The 0.41-acre property includes a paved parking area with off-street and RV parking, along with a security light. Two units have large enclosed yards and storage sheds. The property is zoned MULTI-FAMILY RE and served by public water, with cable availability. Exterior improvements include fencing, a patio, block construction, wood siding, and a composition roof.
The 0.41-acre property includes a paved parking area with off-street and RV parking, along with a security light. Two units have large enclosed yards and storage sheds. The property is zoned MULTI-FAMILY RE and served by public water, with cable availability. Exterior improvements include fencing, a patio, block construction, wood siding, and a composition roof.
Key Highlights
- 2,065‑square‑foot triplex on a 0.41‑acre parcel
- MULTI‑FAMILY RE zoning
- Paved parking area with off‑street and RV parking
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 - Income property with paved parking, storage sheds, and in-unit laundry hookups.
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 on a 0.41‑acre parcel; MULTI‑FAMILY RE zoning; Paved parking area with off‑street and RV parking
