Townhouse-Style
New
For Sale
$490,000
364 CEMETERY Rd, Castle Rock, WA 98611
MultiFamily, CastleRock, WA
Property Size3,400 SF
Lot Size1.90 Acres
Price / SF$144.12
Days on Market1
Property Features for 364 CEMETERY Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
COUNTY
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 5, Bedroom 5, Bathroom 3, Bathroom 6, Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 1
Subdivision
CASTLE ROCK
View
Territorial
Elementary school
Castle Rock
Middle school
Castle Rock
High school
Castle Rock
Directions
North on Westside Highway, Left on PH 10, Left on Cemetery Rd. The property is on the Left.
Standard status
Active
APN
309300101
Size
3,400 SF
Lot size
1.90 Acres
Taxes and HOA fees
Tax Description
814 (CASTLE ROCK OUTLOT) -CR18152 LOT 1 10 -9N -2W CAGLE DLC
Tax Annual Amount
3642
Legal Description
814 (CASTLE ROCK OUTLOT) -CR18152 LOT 1 10 -9N -2W CAGLE DLC
Utilities
Heating system
Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
high ceilings
recessed lighting
quartz countertops
stainless steel appliances
double-pane vinyl windows
concrete patios
fully fenced yards
Building Details
Year built
2023
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Windermere Northwest Living · Windermere Real Estate
(360) 993-2222
Listed By:
David Thelin · License #18448
(360) 749-5667
Added: Oct 14
Last Checked: Oct 14 at 9:06PM
MLS# 134693943
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2023, this townhouse-style duplex contains two units, each with three bedrooms and 2.5 bathrooms. Interior features include quartz kitchen counters, shaker cabinets, stainless steel appliances, high ceilings, and recessed lighting. Each primary suite has a walk-in closet and an adjoining full bathroom. Double-pane vinyl windows and forced-air heating with heat pumps serve both homes; each also has a concrete patio, fenced yard, and attached single-car garage.
The property occupies 1.9 acres in Castle Rock, Washington, near I-5, schools, parks, and everyday amenities. Well and septic systems serve the site. The listing reports a 7.7% capitalization rate.
The property occupies 1.9 acres in Castle Rock, Washington, near I-5, schools, parks, and everyday amenities. Well and septic systems serve the site. The listing reports a 7.7% capitalization rate.
Key Highlights
- Two‑unit duplex built in 2023
- Each unit has 3 bedrooms and 2.5 bathrooms
- 1.9‑acre parcel served by well and septic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,134
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,680
$782.7K
Cap Rate 7%
$559,057
$559.1K
Cap Rate 9%
$434,822
$434.8K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$59.2K $17.40/SF
− Vacancy
−$3.3K −$0.96/SF
EGI
$55.9K $16.44/SF
− OpEx
−$16.8K −$4.93/SF
NOI
$39.1K $11.51/SF
Area
Cowlitz County, WA
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,680
Cap Rate 7%
$559,057
Cap Rate 9%
$434,822
Alternative Uses
Best Use
Multifamily LT 5
$559.1K
$489.2K – $652.2K
NOI $39,134 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$513.4K
$449.2K – $598.9K
NOI $35,935 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$1.12M
$980.2K – $1.31M
NOI $78,414 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 98611, WA
10,165
Population
3,687
Households
2.8
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
136.1 sq mi
ZIP Area
75
Density / Sq Mi
$81,630
Median Household Income
$46,452
Median Earnings
$1,348
Median Rent
$382,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate homes combine modern interior finishes with private fenced yards and attached garages.
Where is this duplex located?
The property is located at 364 CEMETERY Rd Castle Rock, WA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2023; Each unit has 3 bedrooms and 2.5 bathrooms; 1.9‑acre parcel served by well and septic
