Duplex with Attached
3614 Shelby Road, Lynnwood, WA 98087
For Sale
$1,050,000
Both residences have three bedrooms, covered patios, private backyards, and separate utility meters.
Property Size3,004 SF
Price / SF$349.53
Days on Market66
Property Features for 3614 Shelby Road
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
covered patios
private backyards
attached garages
separate utilities/meters
off-street parking
manicured grounds
peek-a-boo lake view
Building Details
Year Built
Buildings
Listing Agency:
FIRST AND MAIN
Listed By:
Kathie Salvadalena
(425) 699-1177
Source:
Skylineproperties
Added: Sep 6
Changed: Nov 10
Last Checked: Nov 10 at 7:43AM
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 FIRST AND MAIN
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Investment Insights
Based on property information with market context.
Built in 1995, this 3,004-square-foot duplex contains two residences, each with three bedrooms and 2.5 bathrooms. Both units include covered patios, private backyards, and attached garages. Separate utilities and meters serve the residences. Unit A has been completely updated, and the property has new exterior paint and a new roof. A partial lake view is noted.
The property offers access to I-5, I-405, public transit, and the Lynnwood Light Rail Station. Lynnwood City Center, Alderwood Mall, shopping, dining, parks, and major employers are also identified in the surrounding area.
The property offers access to I-5, I-405, public transit, and the Lynnwood Light Rail Station. Lynnwood City Center, Alderwood Mall, shopping, dining, parks, and major employers are also identified in the surrounding area.
Key Highlights
- Two residences, each with 3 bedrooms and 2.5 bathrooms
- 3,004‑square‑foot duplex built in 1995
- Unit A is completely updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,076
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,520
$1.0M
Cap Rate 7%
$715,371
$715.4K
Cap Rate 9%
$556,400
$556.4K
Market Conditions
NOI Build-Up for 3,004 SF
Gross rent
$75.7K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$71.5K $23.81/SF
− OpEx
−$21.5K −$7.14/SF
NOI
$50.1K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,520
Cap Rate 7%
$715,371
Cap Rate 9%
$556,400
Alternative Uses
Best Use
Multifamily LT 5
$715.4K
$626.0K – $834.6K
NOI $50,076 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$641.9K
$561.7K – $748.9K
NOI $44,932 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$837.8K
$733.0K – $977.4K
NOI $58,643 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 98087, WA
40,711
Population
16,625
Households
2.4
Avg Household Size
35
Median Age
39%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
7,142
Density / Sq Mi
$106,541
Median Household Income
$56,592
Median Earnings
$2,010
Median Rent
$633,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms, covered patios, private backyards, and separate utility meters.
Where is this duplex located?
The property is located at 3614 Shelby Road Lynnwood, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2.5 bathrooms; 3,004‑square‑foot duplex built in 1995; Unit A is completely updated
