Duplex with Updated
For Sale
$750,000
3306 NE 42ND PL, Vancouver, WA 98661
Two residential units feature fenced backyards, gas fireplaces, attached garages, and recently updated HVAC systems.
Property Size3,186 SF
Days on Market15
Property Features for 3306 NE 42ND PL
General Information
Standard status
Active
Size
3,186 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$6,670
Building Details
Building Size
3,186 SF
Year Built
2004
Listing Agency:
Signature Estates, LLC
(503) 550-8003
Listed By:
Melanie Holbura
(503) 550-8003
Source:
Currangrouprealtors
Added: Aug 6
Changed: Aug 17
Last Checked: Aug 20 at 12:22PM
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 Signature Estates, LLC
Investment Insights
Based on property information with market context.
Built in 2004, this duplex includes two residences with 9-foot ceilings, practical interiors, and kitchens connected to dining and living areas. Gas fireplaces add a defined feature to each unit, while rear sliding doors open to separate fully fenced backyards. Attached garages and driveways provide parking for both residences.
Unit B has received extensive updates, including luxury vinyl plank flooring, appliances, granite countertops, a water heater, interior and exterior paint, and a 50-amp electric vehicle charger. Both units have recently updated HVAC systems. The property supports flexible occupancy arrangements, including living in one unit while renting the other, multigenerational living, or private accommodations for guests.
The duplex is located in Vancouver near SR-500, Clark College, shopping, and area schools.
Unit B has received extensive updates, including luxury vinyl plank flooring, appliances, granite countertops, a water heater, interior and exterior paint, and a 50-amp electric vehicle charger. Both units have recently updated HVAC systems. The property supports flexible occupancy arrangements, including living in one unit while renting the other, multigenerational living, or private accommodations for guests.
The duplex is located in Vancouver near SR-500, Clark College, shopping, and area schools.
Key Highlights
- Two‑unit duplex built in 2004
- Unit B updated with LVP flooring, appliances, granite countertops, paint, and a water heater
- Unit B includes a newly installed 50‑amp electric vehicle charger
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
$42,570
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
5.68%
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%
$851,400
$851.4K
Cap Rate 7%
$608,143
$608.1K
Cap Rate 9%
$473,000
$473.0K
Market Conditions
NOI Build-Up for 3,186 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
$63.8K $20.04/SF
− Vacancy
−$3.0K −$0.95/SF
EGI
$60.8K $19.09/SF
− OpEx
−$18.2K −$5.73/SF
NOI
$42.6K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$851,400
Cap Rate 7%
$608,143
Cap Rate 9%
$473,000
Alternative Uses
Best Use
Multifamily LT 5
$608.1K
$532.1K – $709.5K
NOI $42,570 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$527.9K
$462.0K – $615.9K
NOI $36,956 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$779.5K
$682.1K – $909.5K
NOI $54,567 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
Business Placement
Demographics for 98661, WA
48,983
Population
22,291
Households
2.2
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,494
Density / Sq Mi
$75,037
Median Household Income
$43,920
Median Earnings
$1,440
Median Rent
$424,700
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 feature fenced backyards, gas fireplaces, attached garages, and recently updated HVAC systems.
Where is this duplex located?
The property is located at 3306 NE 42ND PL Vancouver, WA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2004; Unit B updated with LVP flooring, appliances, granite countertops, paint, and a water heater; Unit B includes a newly installed 50‑amp electric vehicle charger
