Townhome-Style Duplex with
For Sale
$636,000
4723 E 18TH ST, Vancouver, WA 98661
Occupied two-unit property with private garages and three-bedroom layouts.
Property Size2,576 SF
Days on Market20
Property Features for 4723 E 18TH ST
General Information
Standard status
Active
Size
2,576 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,460
Amenities
laundry closet with stackable washer/dryer
patio
backyard
Building Details
Building Size
2,576 SF
Year Built
2020
Construction
townhome-style
Listing Agency:
KJK Properties PC
Listed By:
Tatiana Xenelis
(503) 756-2559
Source:
Currangrouprealtors
Added: Sep 8
Changed: Sep 20
Last Checked: Sep 26 at 11:50AM
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 KJK Properties PC
Investment Insights
Based on property information with market context.
Built in 2020, this occupied duplex uses a townhome-style layout with three bedrooms and two and a half bathrooms in each residence. The bedrooms are positioned upstairs alongside two full bathrooms, a laundry closet sized for a stackable washer and dryer, and linen storage. Each unit has its own attached one-car garage, with the residences separated by the garage areas rather than shared living-space walls.
On the main level, both homes offer an open great-room arrangement with natural light, an island breakfast bar, white cabinetry, a half bath, under-stair storage, and access to the garage. Vinyl plank flooring serves the lower level, while the bedrooms have carpeting. Each residence also includes a small patio and an unfenced backyard area. A park and the Burnt Bridge Creek trail are directly across the street.
On the main level, both homes offer an open great-room arrangement with natural light, an island breakfast bar, white cabinetry, a half bath, under-stair storage, and access to the garage. Vinyl plank flooring serves the lower level, while the bedrooms have carpeting. Each residence also includes a small patio and an unfenced backyard area. A park and the Burnt Bridge Creek trail are directly across the street.
Key Highlights
- 2020‑built duplex with two townhome‑style residences
- Each unit includes 3 bedrooms, 2.5 baths, and an attached 1‑car garage
- No shared living‑space walls; units are separated by their garage areas
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
$34,420
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
5.41%
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%
$688,400
$688.4K
Cap Rate 7%
$491,714
$491.7K
Cap Rate 9%
$382,444
$382.4K
Market Conditions
NOI Build-Up for 2,576 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
$51.6K $20.04/SF
− Vacancy
−$2.5K −$0.95/SF
EGI
$49.2K $19.09/SF
− OpEx
−$14.8K −$5.73/SF
NOI
$34.4K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$688,400
Cap Rate 7%
$491,714
Cap Rate 9%
$382,444
Alternative Uses
Best Use
Multifamily LT 5
$491.7K
$430.3K – $573.7K
NOI $34,420 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$426.9K
$373.5K – $498.0K
NOI $29,880 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$630.3K
$551.5K – $735.3K
NOI $44,119 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 98661, WA
48,983
Population
22,291
Households
2.2
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,494
Density / Sq Mi
$75,037
Median Household Income
$43,920
Median Earnings
$1,440
Median Rent
$424,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Occupied two-unit property with private garages and three-bedroom layouts.
Where is this duplex located?
The property is located at 4723 E 18TH ST Vancouver, WA.
What is the asking price?
The asking price for this property is $636,000.
What are key features of this property?
This property features: 2020‑built duplex with two townhome‑style residences; Each unit includes 3 bedrooms, 2.5 baths, and an attached 1‑car garage; No shared living‑space walls; units are separated by their garage areas
