Duplex with Remodeled
For Sale
$785,000
401 N 9th Street A & B, Lynden, WA 98264
Two three-bedroom residences offer open living areas, in-unit laundry, storage, and private outdoor space.
Property Size2,892 SF
Price / SF$271.44
Days on Market22
Property Features for 401 N 9th Street A & B
General Information
Standard status
Active
Size
2,892 SF
Property subtype
Multi-Family
Amenities
in-unit laundry
private backyard spaces
dedicated storage spaces
Building Details
Year Built
1900
Listing Agency:
Muljat Group
(360) 927-2511
Listed By:
Jessica Bouwman
Source:
Lifestylehomeswithmel
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 30 at 8:41PM
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 Muljat Group
Investment Insights
Based on property information with market context.
This duplex at 401 N 9th Street A & B includes two three-bedroom, two-bathroom units with open-concept living areas, spacious kitchens with dining space, and in-unit laundry. Each residence also has a private backyard and dedicated storage. The lower unit received a full remodel in 2020, while the property’s exterior was upgraded that year with new siding and fresh paint.
The property is positioned near parks, schools, and downtown shopping in Lynden, Washington. Its two-unit configuration and separate outdoor and storage areas provide a practical residential layout, with improvements already completed to the lower residence and exterior.
The property is positioned near parks, schools, and downtown shopping in Lynden, Washington. Its two-unit configuration and separate outdoor and storage areas provide a practical residential layout, with improvements already completed to the lower residence and exterior.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,892 SF duplex at 401 N 9th Street A & B
- Lower unit fully remodeled in 2020
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
$33,639
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
4.29%
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%
$672,780
$672.8K
Cap Rate 7%
$480,557
$480.6K
Cap Rate 9%
$373,767
$373.8K
Market Conditions
NOI Build-Up for 2,892 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
$50.3K $17.40/SF
− Vacancy
−$2.3K −$0.78/SF
EGI
$48.1K $16.62/SF
− OpEx
−$14.4K −$4.99/SF
NOI
$33.6K $11.63/SF
Area
Whatcom County, WA
Vacancy
4.50%
Lease Rate
$17.40 /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%
$672,780
Cap Rate 7%
$480,557
Cap Rate 9%
$373,767
Alternative Uses
Best Use
Multifamily LT 5
$480.6K
$420.5K – $560.7K
NOI $33,639 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$445.0K
$389.4K – $519.2K
NOI $31,150 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$682.2K
$597.0K – $796.0K
NOI $47,757 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 98264, WA
23,170
Population
8,395
Households
2.8
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
57.2 sq mi
ZIP Area
405
Density / Sq Mi
$95,225
Median Household Income
$47,046
Median Earnings
$1,611
Median Rent
$538,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer open living areas, in-unit laundry, storage, and private outdoor space.
Where is this duplex located?
The property is located at 401 N 9th Street A & B Lynden, WA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2,892 SF duplex at 401 N 9th Street A & B; Lower unit fully remodeled in 2020
