Updated Duplex with Private Outdoor
For Sale
$560,000
Pending
3408 N ST, Vancouver, WA 98663
Two separately equipped residences offer dedicated storage, carports, and outdoor areas in an established Vancouver setting.
Property Size1,504 SF
Days on Market9
Property Features for 3408 N ST
General Information
Standard status
Pending
Size
1,504 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Units
Multifamily Units
2
Parking per Unit
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,216
Amenities
dog run
soaking tub
private backyard
in-unit laundry
storage
landscaping
Building Details
Building Size
1,504 SF
Year Built
1967
Buildings
1
Listing Agency:
Windermere Northwest Living
(360) 721-4031
Listed By:
Kathy Dessimoz · License #97627
(360) 721-4031
Source:
Currangrouprealtors
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 20 at 12:37PM
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 Windermere Northwest Living
Investment Insights
Based on property information with market context.
This duplex contains two individually equipped residences, each with a private carport, dedicated storage, vinyl windows, recessed lighting, tiled tub and shower surrounds, and its own 200-amp electrical panel. The front residence includes granite tile kitchen counters, newer 3/4-inch hardwood flooring, and a fenced dog run. The rear residence offers a soaking tub, Italian tile details, and a fenced backyard. Appliances remain in both units, including newer washers and dryers. Recent improvements include a new roof, exterior paint, and ductless heating and air conditioning serving both sides. Added soundproofing is installed along the adjoining wall.
The property is located at 3408 N ST in Vancouver, near Vancouver Mall, shopping, restaurants, and everyday services. I-5 and I-205 provide regional access, with the I-5 Bridge nearby and Portland International Airport approximately 15 minutes away. The property has a documented 20-year history of attracting long-term tenants, with units often rented within 48 hours of being offered.
The property is located at 3408 N ST in Vancouver, near Vancouver Mall, shopping, restaurants, and everyday services. I-5 and I-205 provide regional access, with the I-5 Bridge nearby and Portland International Airport approximately 15 minutes away. The property has a documented 20-year history of attracting long-term tenants, with units often rented within 48 hours of being offered.
Key Highlights
- Two‑unit duplex at 3408 N ST, Vancouver, WA 98663
- Each unit has a 200‑amp electrical panel, private carport, and dedicated storage
- New roof, exterior paint, and ductless heating and A/C systems on both sides
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
$20,096
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
3.59%
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%
$401,920
$401.9K
Cap Rate 7%
$287,086
$287.1K
Cap Rate 9%
$223,289
$223.3K
Market Conditions
NOI Build-Up for 1,504 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
$30.1K $20.04/SF
− Vacancy
−$1.4K −$0.95/SF
EGI
$28.7K $19.09/SF
− OpEx
−$8.6K −$5.73/SF
NOI
$20.1K $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%
$401,920
Cap Rate 7%
$287,086
Cap Rate 9%
$223,289
Alternative Uses
Best Use
Multifamily LT 5
$287.1K
$251.2K – $334.9K
NOI $20,096 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$249.2K
$218.1K – $290.8K
NOI $17,446 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 98663, WA
15,188
Population
6,753
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
3,704
Density / Sq Mi
$84,590
Median Household Income
$47,747
Median Earnings
$1,538
Median Rent
$430,900
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 separately equipped residences offer dedicated storage, carports, and outdoor areas in an established Vancouver setting.
Where is this duplex located?
The property is located at 3408 N ST Vancouver, WA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑unit duplex at 3408 N ST, Vancouver, WA 98663; Each unit has a 200‑amp electrical panel, private carport, and dedicated storage; New roof, exterior paint, and ductless heating and A/C systems on both sides
