Building Details

Year Built 1975

Buildings 1

Listing Agency: Compass

Listed By: Chris Murphy · License #111144 Show Phone

Source: Pugetsoundrealestate

Added: Aug 21 Changed: Oct 3 Last Checked: Oct 12 at 7:19PM

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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 Compass

Investment Insights

Based on property information with market context.

This 1,936-square-foot duplex in Edgewood, Washington, was built in 1975 and includes two distinct residential units. One side has been completely updated with modern finishes, while the other has been maintained as an established rental unit. Each residence includes its own garage, dedicated utility room, and private yard, giving both occupants separate indoor and outdoor amenities. An additional storage shed provides supplementary on-site space.

The property is located near freeway access, shopping, dining, and everyday services. Its two-unit configuration supports flexible ownership, including living in one residence while renting the other, or operating both units as income-producing residences.

Key Highlights

• 1,936 SF duplex built in 1975
• One unit has been completely updated
• Each unit includes its own garage and dedicated utility room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,400

Cap Rate

3.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,000 $508.0K

Cap Rate 7%

$362,857 $362.9K

Cap Rate 9%

$282,222 $282.2K

Market Conditions

NOI Build-Up for 1,936 SF

Gross rent

$39.0K $20.16/SF

− Vacancy

−$2.7K −$1.42/SF

EGI

$36.3K $18.74/SF

− OpEx

−$10.9K −$5.62/SF

NOI

$25.4K $13.12/SF

Area

Pierce County, WA

Vacancy

7.03%

Lease Rate

$20.16 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,000

Cap Rate 7%

$362,857

Cap Rate 9%

$282,222

Alternative Uses

Best Use

Multifamily LT 5

$362.9K

$317.5K – $423.3K (±1% cap)

NOI $25,400 @ 7.0% cap · market cap 3.53%

Second Best

Apartment 5plus

$334.7K

$292.8K – $390.5K (±1% cap)

NOI $23,427 @ 7.0% cap · market cap 3.25%

Theoretical Best

Office A

$522.9K

$457.5K – $610.0K (±1% cap)

NOI $36,602 @ 7.0% cap · market cap 5.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

35

Businesses Nearby

Explore this area Business Placement

Demographics for 98372, WA

26,652

Population

10,701

Households

2.5

Avg Household Size

39

Median Age

28%

College-Educated

95%

High-School Grad

13.3 sq mi

ZIP Area

2,004

Density / Sq Mi

$100,316

Median Household Income

$55,892

Median Earnings

$1,745

Median Rent

$570,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two separate units each include a garage, utility room, and private outdoor yard.

Where is this duplex located?

The property is located at 4706 124th Avenue Ct E Edgewood, WA.

What is the asking price?

The asking price for this property is $720,000.

What are key features of this property?

This property features: 1,936 SF duplex built in 1975; One unit has been completely updated; Each unit includes its own garage and dedicated utility room