Updated Two-Unit
406 E Pioneer St Unit B, Granite Falls, WA 98252
For Sale
$495,000
Each residence has one bedroom, one bathroom, and a refreshed kitchen with granite countertops.
Property Size2,632 SF
Price / SF$188.07
Days on Market58
Property Features for 406 E Pioneer St Unit B
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Keller Williams North Seattle
Listed By:
Kevin Jude Fitzgerald · License WA #134224
(206) 327-8002
Source:
Homesinseattlearea
Added: Sep 18
Changed: Nov 1
Last Checked: Nov 10 at 12:52PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1985, this 2,632-square-foot duplex contains two one-bedroom, one-bathroom residences. Both units have living areas finished with luxury vinyl plank and carpeted bedrooms. Kitchens feature granite countertops, updated cabinetry, fixtures, and appliances; the interiors have matching finishes. A recently paved parking area serves the property.
Key Highlights
- Two 1‑bedroom, 1‑bathroom units
- 2,632‑square‑foot duplex built in 1985
- Both kitchens feature granite countertops, updated cabinets, fixtures, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,875
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$877,500
$877.5K
Cap Rate 7%
$626,786
$626.8K
Cap Rate 9%
$487,500
$487.5K
Market Conditions
NOI Build-Up for 2,632 SF
Gross rent
$66.3K $25.20/SF
− Vacancy
−$3.6K −$1.39/SF
EGI
$62.7K $23.81/SF
− OpEx
−$18.8K −$7.14/SF
NOI
$43.9K $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%
$877,500
Cap Rate 7%
$626,786
Cap Rate 9%
$487,500
Alternative Uses
Best Use
Multifamily LT 5
$626.8K
$548.4K – $731.3K
NOI $43,875 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$562.4K
$492.1K – $656.1K
NOI $39,367 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$734.0K
$642.3K – $856.4K
NOI $51,381 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has one bedroom, one bathroom, and a refreshed kitchen with granite countertops.
Where is this duplex located?
The property is located at 406 E Pioneer St Unit B Granite Falls, WA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bathroom units; 2,632‑square‑foot duplex built in 1985; Both kitchens feature granite countertops, updated cabinets, fixtures, and appliances
