Duplex with Separate
New
For Sale
$449,000
410 W Cherry Street, Walla Walla, WA 99362
Two residential units offer distinct layouts, private outdoor features, laundry hookups, and on-site vehicle storage.
Property Size1,864 SF
Price / SF$240.88
Days on Market2
Property Features for 410 W Cherry Street
General Information
Standard status
Active
Size
1,864 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Net Operating Income
$45,686
Units
Unit Mix
1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,414
Amenities
washer/dryer hookups
all appliances included
covered balcony
covered porch
partial fencing
Views
Laminate
Yes
No
2
Electric,See Remarks
3
Alley,Curbs,Open Space,Paved,Sidewalk
Deck,Fenced-Partially,High Speed Internet,Patio,RV Parking
10
0.14
RV Parking
Wood Products
1864
9
Building Details
Building Size
1,864 SF
Year Built
1901
Stories
2
Listing Agency:
Windermere R.E. Westport
(360) 693-6139
Listed By:
Terisa Tangeman
(360) 798-1140
Source:
Premierepropertygroup
Added: Sep 1
Last Checked: Sep 1 at 9:44PM
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 Windermere R.E. Westport
Investment Insights
Based on property information with market context.
This duplex contains 1,864 square feet across two residential units. The lower residence has three bedrooms and one bathroom, along with a covered porch. The upper unit was added in 2023 with full permits and includes three bedrooms, two bathrooms, a covered balcony, and its own meter. Both units provide washer and dryer hookups, included appliances, and generous living areas.
The property occupies a 0.14-acre lot at 410 W Cherry Street in Walla Walla. Exterior features include 10 total parking spots, RV parking, partial fencing, paved access, curbs, sidewalks, and a patio. The building dates to 1901, with the upper unit representing the documented 2023 addition.
The property occupies a 0.14-acre lot at 410 W Cherry Street in Walla Walla. Exterior features include 10 total parking spots, RV parking, partial fencing, paved access, curbs, sidewalks, and a patio. The building dates to 1901, with the upper unit representing the documented 2023 addition.
Key Highlights
- 1,864 SF duplex on a 0.14‑acre lot
- Lower unit has 3 bedrooms, 1 bath, and a covered porch
- Upper unit added in 2023 with full permits and its own meter
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
$15,213
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
3.39%
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%
$304,260
$304.3K
Cap Rate 7%
$217,329
$217.3K
Cap Rate 9%
$169,033
$169.0K
Market Conditions
NOI Build-Up for 1,864 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
$22.6K $12.12/SF
− Vacancy
−$858 −$0.46/SF
EGI
$21.7K $11.66/SF
− OpEx
−$6.5K −$3.50/SF
NOI
$15.2K $8.16/SF
Area
Walla Walla County, WA
Vacancy
3.80%
Lease Rate
$12.12 /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%
$304,260
Cap Rate 7%
$217,329
Cap Rate 9%
$169,033
Alternative Uses
Best Use
Multifamily LT 5
$217.3K
$190.2K – $253.6K
NOI $15,213 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$189.8K
$166.1K – $221.5K
NOI $13,287 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$438.7K
$383.8K – $511.8K
NOI $30,707 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 99362, WA
43,249
Population
18,022
Households
2.4
Avg Household Size
40
Median Age
31%
College-Educated
90%
High-School Grad
303.1 sq mi
ZIP Area
143
Density / Sq Mi
$70,660
Median Household Income
$37,236
Median Earnings
$1,148
Median Rent
$398,000
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 - Two residential units offer distinct layouts, private outdoor features, laundry hookups, and on-site vehicle storage.
Where is this duplex located?
The property is located at 410 W Cherry Street Walla Walla, WA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,864 SF duplex on a 0.14‑acre lot; Lower unit has 3 bedrooms, 1 bath, and a covered porch; Upper unit added in 2023 with full permits and its own meter
