Refreshed Duplex with
New
For Sale
$919,950
3411 6th Ave NW, Olympia, WA 98502
Two move-in-ready homes offer flexible living arrangements, private suites, laundry rooms, and HOA-maintained exteriors.
Property Size3,872 SF
Price / SF$237.59
Days on Market3
Property Features for 3411 6th Ave NW
General Information
Standard status
Active
Size
3,872 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2017
Buildings
1
Listed By:
Realtrua
(425) 941-2091
Source:
Realtrua
Added: Sep 20
Last Checked: Sep 21 at 6:47AM
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 Realtrua
Investment Insights
Based on property information with market context.
Built in 2017, this duplex at 3411 6th Ave NW in Olympia includes two separate residences, each offering 1,936 square feet across a spacious 3-bedroom, 2.5-bath layout. Both units have been refreshed with new carpet and interior paint. Main-level interiors provide open living areas, kitchens with substantial cabinet storage, and dedicated laundry rooms with additional storage. Upstairs, each residence includes a primary suite with private bath, two additional bedrooms, and a full hall bath.
Each side also features an attached 2-car garage and outdoor space. The building’s exterior is maintained by the HOA. The property is near shopping, restaurants, parks, and freeway access, with the full duplex offering options for owner occupancy, multi-generational use, or rental operation.
Each side also features an attached 2-car garage and outdoor space. The building’s exterior is maintained by the HOA. The property is near shopping, restaurants, parks, and freeway access, with the full duplex offering options for owner occupancy, multi-generational use, or rental operation.
Key Highlights
- Entire duplex with two 3‑bedroom, 2.5‑bath residences
- Built in 2017 with 3,872 SF total property size
- Each unit measures 1,936 SF and includes an attached 2‑car garage
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
$52,666
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
5.72%
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%
$1,053,320
$1.1M
Cap Rate 7%
$752,371
$752.4K
Cap Rate 9%
$585,178
$585.2K
Market Conditions
NOI Build-Up for 3,872 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
$79.0K $20.40/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$75.2K $19.43/SF
− OpEx
−$22.6K −$5.83/SF
NOI
$52.7K $13.60/SF
Area
Thurston County, WA
Vacancy
4.75%
Lease Rate
$20.40 /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%
$1,053,320
Cap Rate 7%
$752,371
Cap Rate 9%
$585,178
Alternative Uses
Best Use
Multifamily LT 5
$752.4K
$658.3K – $877.8K
NOI $52,666 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$693.6K
$606.9K – $809.3K
NOI $48,555 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.13M
$992.0K – $1.32M
NOI $79,361 @ 7.0% cap · market cap 8.63%
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
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 98502, WA
35,698
Population
15,550
Households
2.3
Avg Household Size
41
Median Age
52%
College-Educated
97%
High-School Grad
63.4 sq mi
ZIP Area
563
Density / Sq Mi
$87,154
Median Household Income
$46,404
Median Earnings
$1,569
Median Rent
$496,500
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 move-in-ready homes offer flexible living arrangements, private suites, laundry rooms, and HOA-maintained exteriors.
Where is this duplex located?
The property is located at 3411 6th Ave NW Olympia, WA.
What is the asking price?
The asking price for this property is $919,950.
What are key features of this property?
This property features: Entire duplex with two 3‑bedroom, 2.5‑bath residences; Built in 2017 with 3,872 SF total property size; Each unit measures 1,936 SF and includes an attached 2‑car garage
