Updated Two-Unit
406 E Pioneer St, Granite Falls, WA 98252
For Sale
$649,000
Both residences combine refreshed kitchen finishes with separate flooring treatments for living areas and bedrooms.
Property Size1,680 SF
Price / SF$386.31
Days on Market78
Property Features for 406 E Pioneer St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
parking lot
Building Details
Year Built
Listing Agency:
Keller Williams North Seattle
Listed By:
Kevin Jude Fitzgerald · License WA #134224
(206) 327-8002
Source:
Homesinseattlearea
Added: Aug 29
Changed: Nov 1
Last Checked: Nov 10 at 11:11AM
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 Keller Williams North Seattle
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Investment Insights
Based on property information with market context.
Built in 1985, this duplex contains two 2-bedroom, 1-bathroom residences totaling 1,680 square feet. Both units have granite kitchen counters, updated cabinetry, fixtures and appliances. Living areas feature luxury vinyl plank, while the bedrooms are carpeted.
A recently paved parking area serves the property at 406 E Pioneer St in Granite Falls. The two residences share the same finish package.
A recently paved parking area serves the property at 406 E Pioneer St in Granite Falls. The two residences share the same finish package.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,680 square feet total
- Granite countertops, updated cabinetry, fixtures and appliances in both kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,005
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,100
$560.1K
Cap Rate 7%
$400,071
$400.1K
Cap Rate 9%
$311,167
$311.2K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$42.3K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$40.0K $23.81/SF
− OpEx
−$12.0K −$7.14/SF
NOI
$28.0K $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%
$560,100
Cap Rate 7%
$400,071
Cap Rate 9%
$311,167
Alternative Uses
Best Use
Multifamily LT 5
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$359.0K
$314.1K – $418.8K
NOI $25,128 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$468.5K
$410.0K – $546.6K
NOI $32,797 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
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Business Placement
Demographics for 98252, WA
10,645
Population
4,441
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
238.7 sq mi
ZIP Area
45
Density / Sq Mi
$95,235
Median Household Income
$57,551
Median Earnings
$1,412
Median Rent
$492,500
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 combine refreshed kitchen finishes with separate flooring treatments for living areas and bedrooms.
Where is this duplex located?
The property is located at 406 E Pioneer St Granite Falls, WA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; 1,680 square feet total; Granite countertops, updated cabinetry, fixtures and appliances in both kitchens
