Two-Unit Duplex with Private
New
For Sale
$559,000
505 507 S Pine Avenue, Warden, WA 98857
Both residences are leased on one-year terms and feature fenced yards with sprinkler systems.
Property Size2,832 SF
Price / SF$197.39
Days on Market5
Property Features for 505 507 S Pine Avenue
General Information
Standard status
Active
Size
2,832 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$38,114
Taxes and HOA fees
Annual Taxes
$5,236
Amenities
private laundry rooms
fully fenced yards
Laminate,Carpet
Yes
No
2
6
Electric
Alley,Curbs,Paved
Community
Cable TV,Fenced-Fully,High Speed Internet,Patio,Sprinkler System
0.1524
Wood Products
Poured Concrete
2832
Building Details
Building Size
2,832 SF
Year Built
2023
Stories
2
Listing Agency:
Coldwell Banker Tomlinson R&H
(503) 716-8644
Listed By:
Katy Malby
(503) 440-9843
Source:
Premierepropertygroup
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 9 at 5:23PM
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 Coldwell Banker Tomlinson R&H
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residences, each with three bedrooms, two-and-a-half bathrooms, and more than 1,400 square feet. Interior finishes include quartz countertops and laminate flooring, with a private laundry room in each unit. Both homes have fully fenced yards and underground sprinklers.
The property is fully occupied under one-year leases. Its two-unit configuration and separate residential spaces provide a straightforward rental setup.
The property is fully occupied under one-year leases. Its two-unit configuration and separate residential spaces provide a straightforward rental setup.
Key Highlights
- Two units, each with 3 bedrooms and 2.5 bathrooms
- More than 1,400 square feet in each residence
- Fully rented on 1‑year leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,796
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,920
$495.9K
Cap Rate 7%
$354,229
$354.2K
Cap Rate 9%
$275,511
$275.5K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$38.7K $13.67/SF
− Vacancy
−$3.3K −$1.16/SF
EGI
$35.4K $12.51/SF
− OpEx
−$10.6K −$3.75/SF
NOI
$24.8K $8.76/SF
Area
Grant County, WA
Vacancy
8.50%
Lease Rate
$13.67 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,920
Cap Rate 7%
$354,229
Cap Rate 9%
$275,511
Alternative Uses
Best Use
Multifamily LT 5
$354.2K
$310.0K – $413.3K
NOI $24,796 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$340.3K
$297.7K – $397.0K
NOI $23,819 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$615.2K
$538.3K – $717.8K
NOI $43,065 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 98857, WA
3,999
Population
1,355
Households
3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
167.4 sq mi
ZIP Area
24
Density / Sq Mi
$57,743
Median Household Income
$37,099
Median Earnings
$820
Median Rent
$194,400
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 - Both residences are leased on one-year terms and feature fenced yards with sprinkler systems.
Where is this duplex located?
The property is located at 505 507 S Pine Avenue Warden, WA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2.5 bathrooms; More than 1,400 square feet in each residence; Fully rented on 1‑year leases
