Riverfront
For Sale
$1,100,000
501 K ST, Washougal, WA 98671
Two remodeled three-bedroom units with river views, private garages, carports, and driveway parking.
Property Size3,206 SF
Days on Market53
Property Features for 501 K ST
General Information
Standard status
Active
Size
3,206 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
2 x 1603 SF 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,672
Amenities
heat pumps
river views
Building Details
Building Size
3,206 SF
Year Built
1989
Listing Agency:
Arrow Realty LLC
Listed By:
Robie Garcia
(360) 713-3938
Source:
Eleeterealestate
Added: Aug 13
Changed: Sep 24
Last Checked: Oct 4 at 2:01PM
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 Arrow Realty LLC
Investment Insights
Based on property information with market context.
This duplex includes two remodeled residences, each offering 1,603 square feet with three bedrooms, two bathrooms, a garage, and a carport. Both units feature heat pumps and views of the Washougal River. Water heaters are fairly new, while the property also benefits from newer fencing and a recently resurfaced driveway top coat.
The property is located at 501 K St in Washougal, near the Sandy Swimming Hole area along the Washougal River. Additional parking is available on the driveway approach, and the location is described as convenient for commuters.
The property is located at 501 K St in Washougal, near the Sandy Swimming Hole area along the Washougal River. Additional parking is available on the driveway approach, and the location is described as convenient for commuters.
Key Highlights
- Two 1,603‑square‑foot units, each with 3 bedrooms and 2 baths
- Washougal River setting near the Sandy Swimming Hole area
- Each unit includes a garage and a carport
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
$41,769
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
3.80%
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%
$835,380
$835.4K
Cap Rate 7%
$596,700
$596.7K
Cap Rate 9%
$464,100
$464.1K
Market Conditions
NOI Build-Up for 3,206 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
$63.5K $19.80/SF
− Vacancy
−$3.8K −$1.19/SF
EGI
$59.7K $18.61/SF
− OpEx
−$17.9K −$5.58/SF
NOI
$41.8K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /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%
$835,380
Cap Rate 7%
$596,700
Cap Rate 9%
$464,100
Alternative Uses
Best Use
Multifamily LT 5
$596.7K
$522.1K – $696.2K
NOI $41,769 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$557.1K
$487.5K – $650.0K
NOI $38,997 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$781.1K
$683.4K – $911.2K
NOI $54,674 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 98671, WA
24,857
Population
9,090
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
94%
High-School Grad
81.1 sq mi
ZIP Area
306
Density / Sq Mi
$104,498
Median Household Income
$51,722
Median Earnings
$1,566
Median Rent
$532,100
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 - Two remodeled three-bedroom units with river views, private garages, carports, and driveway parking.
Where is this duplex located?
The property is located at 501 K ST Washougal, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two 1,603‑square‑foot units, each with 3 bedrooms and 2 baths; Washougal River setting near the Sandy Swimming Hole area; Each unit includes a garage and a carport
