New Construction
For Sale
$600,000
502 N Kent Pl, Kennewick, WA 99336
Two single-level residences combine contemporary finishes with fenced outdoor space on a corner lot.
Property Size2,214 SF
Price / SF$271
Days on Market10
Property Features for 502 N Kent Pl
General Information
Standard status
Active
Size
2,214 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,332
Amenities
fenced yard
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Retter and Company Sotheby's
(509) 528-2178
Listed By:
Monroe Davis
(509) 528-2178
Source:
Exprealty
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 14 at 10:32AM
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 Retter and Company Sotheby's
Investment Insights
Based on property information with market context.
This duplex is scheduled for completion in July 2026 and contains 2,214 square feet across two single-level residences. Each unit includes 3 bedrooms and 2 bathrooms, along with quartz countertops, LVP flooring, and updated interior finishes. One residence is vacant, while the second offers rental income potential for an owner-occupant or investor.
The property sits on a corner lot at 502 N Kent Pl in Kennewick, WA, with fenced yard areas serving the residences. The two-unit configuration and separate living spaces provide flexibility for occupancy and leasing, while the newer construction supports a low-maintenance residential setup.
The property sits on a corner lot at 502 N Kent Pl in Kennewick, WA, with fenced yard areas serving the residences. The two-unit configuration and separate living spaces provide flexibility for occupancy and leasing, while the newer construction supports a low-maintenance residential setup.
Key Highlights
- New duplex completed in July 2026
- 2,214 square feet across two residences
- Each unit offers 3 bedrooms and 2 bathrooms
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
$19,258
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
3.21%
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%
$385,160
$385.2K
Cap Rate 7%
$275,114
$275.1K
Cap Rate 9%
$213,978
$214.0K
Market Conditions
NOI Build-Up for 2,214 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
$30.0K $13.56/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$27.5K $12.43/SF
− OpEx
−$8.3K −$3.73/SF
NOI
$19.3K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$385,160
Cap Rate 7%
$275,114
Cap Rate 9%
$213,978
Alternative Uses
Best Use
Multifamily LT 5
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$243.7K
$213.2K – $284.3K
NOI $17,058 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$614.1K
$537.3K – $716.4K
NOI $42,986 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
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 - Two single-level residences combine contemporary finishes with fenced outdoor space on a corner lot.
Where is this duplex located?
The property is located at 502 N Kent Pl Kennewick, WA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: New duplex completed in July 2026; 2,214 square feet across two residences; Each unit offers 3 bedrooms and 2 bathrooms
