Two-Duplex Multifamily
For Sale
$1,170,000
4617 Beach, Port Orchard, WA 98366
Four two-bedroom residences offer two-level layouts with decks, laundry areas, storage, and views toward Sinclair Inlet.
Property Size4,664 SF
Price / SF$250.86
Days on Market18
Property Features for 4617 Beach
General Information
Standard status
Active
Size
4,664 SF
Property subtype
Multi-family
Building Details
Year Built
1980
Buildings
2
Listing Agency:
Better Properties Kitsap
Listed By:
Gloria Mellon
(206) 363-8509
Source:
Century21northhomes
Added: Jul 20
Changed: Jul 31
Last Checked: Aug 6 at 4:46AM
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 Better Properties Kitsap
Investment Insights
Based on property information with market context.
This multifamily property includes two duplexes with four total residences. Each unit features two bedrooms, one full bathroom, and an additional half bathroom for guests. The layout places the living room, dining area, kitchen, and half bath on the main floor, with two bedrooms, a full bathroom, laundry, and storage on the lower level. Each unit also includes a deck oriented toward Sinclair Inlet, and the property has garage space.
Built in 1980, the property is located at 4617 Beach in Port Orchard, Washington. Deck views extend toward Sinclair Inlet, where Washington State Ferries travel several times a day. The four units provide a consistent configuration across the duplexes, with residential features including private outdoor space, laundry areas, storage, and garage access.
Built in 1980, the property is located at 4617 Beach in Port Orchard, Washington. Deck views extend toward Sinclair Inlet, where Washington State Ferries travel several times a day. The four units provide a consistent configuration across the duplexes, with residential features including private outdoor space, laundry areas, storage, and garage access.
Key Highlights
- Two duplexes with four total units
- Each unit includes 2 bedrooms, 1 full bath, and 1 half bath
- Each residence has a two‑level layout with laundry and storage
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
$54,589
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
4.67%
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%
$1,091,780
$1.1M
Cap Rate 7%
$779,843
$779.8K
Cap Rate 9%
$606,544
$606.5K
Market Conditions
NOI Build-Up for 4,664 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
$85.6K $18.36/SF
− Vacancy
−$7.6K −$1.64/SF
EGI
$78.0K $16.72/SF
− OpEx
−$23.4K −$5.02/SF
NOI
$54.6K $11.70/SF
Area
Kitsap County, WA
Vacancy
8.93%
Lease Rate
$18.36 /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%
$1,091,780
Cap Rate 7%
$779,843
Cap Rate 9%
$606,544
Alternative Uses
Best Use
Multifamily LT 5
$779.8K
$682.4K – $909.8K
NOI $54,589 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$717.1K
$627.5K – $836.7K
NOI $50,200 @ 7.0% cap · market cap 4.29%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.81M
NOI $108,865 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 98366, WA
36,969
Population
15,391
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
94%
High-School Grad
23.4 sq mi
ZIP Area
1,580
Density / Sq Mi
$88,807
Median Household Income
$51,884
Median Earnings
$1,704
Median Rent
$449,700
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 - Four two-bedroom residences offer two-level layouts with decks, laundry areas, storage, and views toward Sinclair Inlet.
Where is this duplex located?
The property is located at 4617 Beach Port Orchard, WA.
What is the asking price?
The asking price for this property is $1,170,000.
What are key features of this property?
This property features: Two duplexes with four total units; Each unit includes 2 bedrooms, 1 full bath, and 1 half bath; Each residence has a two‑level layout with laundry and storage
