Three-Unit Property with
New
For Sale
$850,000
440 Snow Mass Ln, Yakima, WA 98908
Rental Income, Yakima, WA
Property Size4,780 SF
Lot Size0.56 Acres
Price / SF$177.82
Days on Market2
Property Features for 440 Snow Mass Ln
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R3 - Multi Fam Res
Directions
Heading west on Englewood Ave, turn left onto Snow Mass Ln (private road). Property is 1st house on the right (corner of Englewood Ave & Snow Mass Ln).
Subdivision
4 - NW Yakima 40th/80th
Standard status
Active
APN
181320-12443
Size
4,780 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5231
Utilities
Heating system
Electric (Heating), Baseboard, Forced Air
Water source
Public
Amenities
shared backyard
Building Details
Year built
1978
Number of units
3
Building materials
Block, Frame
Roof type
Composition
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Kate Soldano · License #36366
(509) 949-2192
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:06PM
MLS# 26-2581
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.
This 4,780-square-foot triplex property includes a two-story primary residence and two separate one-bedroom rental units. The main residence has engineered hardwood flooring, a stone fireplace, three bedrooms including one nonconforming bedroom, three bathrooms, a kitchen, laundry, and backyard access. The two additional units each include one bedroom and a combined full bathroom and laundry area. Each unit has its own patio overlooking the shared backyard.
Parking improvements include a detached three-car garage and shop serving the main residence, a three-car carport for the additional units, and a gravel area for further vehicle storage. Separate electric meters support tenant-paid electricity, while water and irrigation are currently owner-paid. The property occupies 0.56 acres and was built in 1978 with block and frame construction, electric baseboard and forced-air heating, a composition roof, and public water service.
Parking improvements include a detached three-car garage and shop serving the main residence, a three-car carport for the additional units, and a gravel area for further vehicle storage. Separate electric meters support tenant-paid electricity, while water and irrigation are currently owner-paid. The property occupies 0.56 acres and was built in 1978 with block and frame construction, electric baseboard and forced-air heating, a composition roof, and public water service.
Key Highlights
- 4,780 SF triplex on a 0.56‑acre lot
- Two‑story main residence with three bedrooms and three bathrooms
- Two additional one‑bedroom units with full bathroom/laundry combinations
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
$53,668
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
6.31%
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%
$1,073,360
$1.1M
Cap Rate 7%
$766,686
$766.7K
Cap Rate 9%
$596,311
$596.3K
Market Conditions
NOI Build-Up for 4,780 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
$82.0K $17.16/SF
− Vacancy
−$5.4K −$1.12/SF
EGI
$76.7K $16.04/SF
− OpEx
−$23.0K −$4.81/SF
NOI
$53.7K $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%
$1,073,360
Cap Rate 7%
$766,686
Cap Rate 9%
$596,311
Alternative Uses
Best Use
Multifamily LT 5
$766.7K
$670.9K – $894.5K
NOI $53,668 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$667.4K
$583.9K – $778.6K
NOI $46,715 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$970.7K
$849.4K – $1.13M
NOI $67,949 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 98908, WA
38,205
Population
15,496
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
105.7 sq mi
ZIP Area
361
Density / Sq Mi
$80,266
Median Household Income
$43,789
Median Earnings
$1,302
Median Rent
$356,900
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?
Triplex - Two-story main residence with two additional rental units, private outdoor areas, and substantial on-site parking.
Where is this triplex located?
The property is located at 440 Snow Mass Ln Yakima, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,780 SF triplex on a 0.56‑acre lot; Two‑story main residence with three bedrooms and three bathrooms; Two additional one‑bedroom units with full bathroom/laundry combinations
