Updated Duplex with
For Sale
$698,000
4410 4408 Quail Dr SE, Lacey, WA 98503
Vacant two-unit property with refreshed interiors, private garages, and separately paid utilities.
Property Size2,698 SF
Price / SF$258.71
Days on Market47
Property Features for 4410 4408 Quail Dr SE
General Information
Standard status
Active
Size
2,698 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
1996
Listing Agency:
Bob Guardino Real Estate Srvs
Listed By:
Bob Guardino
(360) 551-4609
Source:
Montgomeryht
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 5 at 8:44PM
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 Bob Guardino Real Estate Srvs
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Investment Insights
Based on property information with market context.
This 2,698-square-foot duplex, built in 1996, is vacant in both units, allowing a new owner to choose an on-site residence. The building has been repainted throughout, and each unit includes a garage with an automatic opener. The roof was installed 4 years ago.
Unit 4408 features a remodeled kitchen, new carpeting, and fresh paint. Utility costs are paid by the tenants, providing a defined operating structure when occupied. The property also includes apple, cherry, and peach trees, adding established outdoor features to the residential setting at 4410 and 4408 Quail Dr SE in Lacey, Washington.
Unit 4408 features a remodeled kitchen, new carpeting, and fresh paint. Utility costs are paid by the tenants, providing a defined operating structure when occupied. The property also includes apple, cherry, and peach trees, adding established outdoor features to the residential setting at 4410 and 4408 Quail Dr SE in Lacey, Washington.
Key Highlights
- 2,698‑square‑foot duplex built in 1996
- Both units are vacant, providing owner‑occupancy flexibility
- Each unit includes a garage with opener
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,697
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$733,940
$733.9K
Cap Rate 7%
$524,243
$524.2K
Cap Rate 9%
$407,744
$407.7K
Market Conditions
NOI Build-Up for 2,698 SF
Gross rent
$55.0K $20.40/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$52.4K $19.43/SF
− OpEx
−$15.7K −$5.83/SF
NOI
$36.7K $13.60/SF
Area
Thurston County, WA
Vacancy
4.75%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$733,940
Cap Rate 7%
$524,243
Cap Rate 9%
$407,744
Alternative Uses
Best Use
Multifamily LT 5
$524.2K
$458.7K – $611.6K
NOI $36,697 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$483.3K
$422.9K – $563.9K
NOI $33,833 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$790.0K
$691.2K – $921.6K
NOI $55,298 @ 7.0% cap · market cap 7.92%
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
418
Businesses Nearby
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Business Placement
Demographics for 98503, WA
40,346
Population
18,375
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
3,635
Density / Sq Mi
$87,515
Median Household Income
$47,554
Median Earnings
$1,673
Median Rent
$407,700
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 - Vacant two-unit property with refreshed interiors, private garages, and separately paid utilities.
Where is this duplex located?
The property is located at 4410 4408 Quail Dr SE Lacey, WA.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: 2,698‑square‑foot duplex built in 1996; Both units are vacant, providing owner‑occupancy flexibility; Each unit includes a garage with opener
