New Construction
For Sale
$614,900
401 E Bonnieview Rd, Grandview, WA 98930
Rental Income, Grandview, WA
Property Size2,510 SF
Lot Size0.21 Acres
Price / SF$244.98
Days on Market191
Property Features for 401 E Bonnieview Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
R2 - 2 Fam Res
Bedrooms
3
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1
Directions
GPS
Subdivision
13C - Grandview
Standard status
Active
APN
230914-44413
Size
2,510 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
2025
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
eXp Realty LLC Kennewick
(888) 421-2531
Listed By:
Anwar Nassar · License #21012326
(808) 200-3677
Added: Mar 18
Changed: Sep 22
Last Checked: Sep 24 at 6:06AM
MLS# 26-699
Copyright © 2026 Yakima Association of Realtors. 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.
Completed in 2025 and currently under construction, this frame duplex provides 2,510 square feet across two residences. Each unit includes 3 bedrooms, 2 bathrooms, approximately 1,255 square feet, an open-concept interior, high ceilings, LVP flooring, and modern finishes. Both residences also include a one-car garage and front yard landscaping. Forced-air heating, composition roofing, and public water service are specified for the property.
The duplex sits on a 0.21-acre lot at 401 E Bonnieview Rd in Grandview, Washington. Its two-unit layout supports separate residential occupancy and provides flexibility for an owner-occupant or rental-focused buyer, based on the property’s configuration.
The duplex sits on a 0.21-acre lot at 401 E Bonnieview Rd in Grandview, Washington. Its two-unit layout supports separate residential occupancy and provides flexibility for an owner-occupant or rental-focused buyer, based on the property’s configuration.
Key Highlights
- Two‑unit duplex with 2,510 square feet total
- Each unit offers 3 bedrooms, 2 bathrooms, and approximately 1,255 square feet
- Built in 2025 with frame construction; property condition is under construction
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
$28,181
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
4.58%
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%
$563,620
$563.6K
Cap Rate 7%
$402,586
$402.6K
Cap Rate 9%
$313,122
$313.1K
Market Conditions
NOI Build-Up for 2,510 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
$43.1K $17.16/SF
− Vacancy
−$2.8K −$1.12/SF
EGI
$40.3K $16.04/SF
− OpEx
−$12.1K −$4.81/SF
NOI
$28.2K $11.23/SF
Area
Yakima County, WA
Vacancy
6.53%
Lease Rate
$17.16 /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%
$563,620
Cap Rate 7%
$402,586
Cap Rate 9%
$313,122
Alternative Uses
Best Use
Multifamily LT 5
$402.6K
$352.3K – $469.7K
NOI $28,181 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$350.4K
$306.6K – $408.8K
NOI $24,530 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$509.7K
$446.0K – $594.7K
NOI $35,681 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 98930, WA
15,339
Population
4,910
Households
3.1
Avg Household Size
30
Median Age
9%
College-Educated
67%
High-School Grad
44.9 sq mi
ZIP Area
342
Density / Sq Mi
$67,798
Median Household Income
$34,675
Median Earnings
$980
Median Rent
$277,600
Median Home Value
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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 contemporary residential units offer flexible occupancy with private garages and landscaped front yards.
Where is this duplex located?
The property is located at 401 E Bonnieview Rd Grandview, WA.
What is the asking price?
The asking price for this property is $614,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,510 square feet total; Each unit offers 3 bedrooms, 2 bathrooms, and approximately 1,255 square feet; Built in 2025 with frame construction; property condition is under construction
