Duplex with Two Updated
For Sale
$600,000
3713 M St, Vancouver, WA 98663
MULTI_FAMILY - Vancouver, WA
Property Size1,724 SF
Lot Size0.11 Acres
Price / SF$348.03
Days on Market95
Property Features for 3713 M St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3
Elementary school
Washington
Middle school
Discovery
High school
Hudsons Bay
Directions
From P St, Turn West on E. 37th St. Turn North on M St. Duplex on the right.
Subdivision
_12
Standard status
Active
APN
019122000
Size
1,724 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LAYS SUB-DIV LOT 16 BLK 11 FOR ASSESSOR USE ONLY LOT 16 BLK 11 LA
Tax Annual Amount
4148
Legal Description
LAYS SUB-DIV LOT 16 BLK 11 FOR ASSESSOR USE ONLY LOT 16 BLK 11 LA
Utilities
Heating system
Forced Air
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams Realty
(360) 693-3336
Listed By:
Amy Asivido
(360) 831-4290
Added: May 4
Changed: Aug 6
Last Checked: Aug 6 at 4:06PM
MLS# 120839459
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.
This duplex offers two single-level units, each with two bedrooms and one bathroom. Both units include updated hard-surface flooring, a refrigerator, and washer/dryer hookups, supported by practical layouts. Recent upgrades include new flooring and subfloor work, full interior paint, plumbing updates, and some newer appliances.
The property is zoned R-9 and sits on a 0.11-acre lot. It was built in 1965 and features forced-air heating and a composition roof. Four dedicated off-street parking spaces are located behind the building, with additional parking available in front. Two electrical panels were replaced in May 2023.
Convenient access is noted to I-5, Clark College, downtown employment centers, restaurants, and shopping. The remarks also reference an opportunity to purchase an adjacent duplex at 3709 M St to create four total units across two neighboring properties.
The property is zoned R-9 and sits on a 0.11-acre lot. It was built in 1965 and features forced-air heating and a composition roof. Four dedicated off-street parking spaces are located behind the building, with additional parking available in front. Two electrical panels were replaced in May 2023.
Convenient access is noted to I-5, Clark College, downtown employment centers, restaurants, and shopping. The remarks also reference an opportunity to purchase an adjacent duplex at 3709 M St to create four total units across two neighboring properties.
Key Highlights
- Two single‑level units, each with 2 bedrooms and 1 bathroom
- Updated hard‑surface flooring plus refrigerator and washer/dryer hookups
- Recent upgrades include new flooring and subfloor work, full interior paint, and plumbing updates
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
$23,036
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
3.84%
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%
$460,720
$460.7K
Cap Rate 7%
$329,086
$329.1K
Cap Rate 9%
$255,956
$256.0K
Market Conditions
NOI Build-Up for 1,724 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
$34.5K $20.04/SF
− Vacancy
−$1.6K −$0.95/SF
EGI
$32.9K $19.09/SF
− OpEx
−$9.9K −$5.73/SF
NOI
$23.0K $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%
$460,720
Cap Rate 7%
$329,086
Cap Rate 9%
$255,956
Alternative Uses
Best Use
Multifamily LT 5
$329.1K
$288.0K – $383.9K
NOI $23,036 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,998 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$421.8K
$369.1K – $492.1K
NOI $29,527 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
583
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 - R-9 duplex on a 0.11-acre lot with two single-level units, forced-air heat, and four off-street parking spaces behind the building.
Where is this duplex located?
The property is located at 3713 M St Vancouver, WA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two single‑level units, each with 2 bedrooms and 1 bathroom; Updated hard‑surface flooring plus refrigerator and washer/dryer hookups; Recent upgrades include new flooring and subfloor work, full interior paint, and plumbing updates
