Building Details

Year Built 1929

Buildings 1

Construction Craftsman

Listing Agency: Windermere Prof Partners

Listed By: Matt Hume Show Phone

Source: Seattlepropertysource

Added: Aug 12 Changed: Oct 1 Last Checked: Oct 12 at 7:51PM

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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 Prof Partners

Investment Insights

Based on property information with market context.

This 2,732-SF duplex, built in 1929, provides two separate living areas within an all-brick Craftsman-style home. The main level includes a living and dining area, two bedrooms, a remodeled kitchen, full bath, breakfast nook, built-ins, and prefinished hardwood flooring. The upper level has its own meter, two more bedrooms, an updated bath, and a second kitchen.

Recent improvements include a 2024 roof, tuckpointed brick, replacement fencing, double-pane vinyl windows, a new furnace, copper and Pex plumbing, and mostly updated electrical. The property also features a covered front porch and a backyard finished with low-maintenance turf. Its Tacoma setting offers access to the 6th Ave and Proctor districts.

Key Highlights

• 2,732‑SF duplex built in 1929
• Two separately metered living areas with individual kitchens
• Four total bedrooms and two updated full baths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,995

Cap Rate

5.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$719,900 $719.9K

Cap Rate 7%

$514,214 $514.2K

Cap Rate 9%

$399,944 $399.9K

Market Conditions

NOI Build-Up for 2,732 SF

Gross rent

$54.1K $19.80/SF

− Vacancy

−$2.7K −$0.98/SF

EGI

$51.4K $18.82/SF

− OpEx

−$15.4K −$5.65/SF

NOI

$36.0K $13.18/SF

Area

Tacoma, WA

Vacancy

4.94%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$719,900

Cap Rate 7%

$514,214

Cap Rate 9%

$399,944

Alternative Uses

Best Use

Multifamily LT 5

$514.2K

$449.9K – $599.9K (±1% cap)

NOI $35,995 @ 7.0% cap · market cap 5.54%

Second Best

Apartment 5plus

$446.9K

$391.0K – $521.4K (±1% cap)

NOI $31,281 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$839.7K

$734.8K – $979.7K (±1% cap)

NOI $58,782 @ 7.0% cap · market cap 9.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm HVAC Service Accounting Firm Big Box & Wholesale Store Auto Parts Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

842

Businesses Nearby

Explore this area Business Placement

Demographics for 98406, WA

22,768

Population

10,748

Households

2.1

Avg Household Size

42

Median Age

48%

College-Educated

96%

High-School Grad

4.2 sq mi

ZIP Area

5,421

Density / Sq Mi

$104,761

Median Household Income

$59,659

Median Earnings

$1,677

Median Rent

$594,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two separately metered living areas include distinct kitchens, bedrooms, and baths.

Where is this duplex located?

The property is located at 3417 N 8th St Tacoma, WA.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 2,732‑SF duplex built in 1929; Two separately metered living areas with individual kitchens; Four total bedrooms and two updated full baths