Duplex with Two
For Sale
$260,000
506 W 4th St, Grandview, WA 98930
Duplex property with two additional casitas, a storage building, and a tree-lined lot.
Property Size2,052 SF
Price / SF$126.71
Days on Market8
Property Features for 506 W 4th St
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
need some TLC
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,244
Listing Agency:
Zion Properties, LLC
Listed By:
Susie Rodriguez
(509) 539-3061
Source:
Exprealty
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 22 at 10:16PM
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 Zion Properties, LLC
Investment Insights
Based on property information with market context.
This duplex property includes two casitas and a separate storage building on a lot with trees. The buildings provide 2,052 square feet of property area, with some units requiring TLC. The property is being offered in as-is condition, with no repairs planned by the seller.
Located at 506 W 4th St in Grandview, WA 98930, the property combines the main duplex with additional casita structures and storage space. The existing layout and improvements should be evaluated in their current condition.
Located at 506 W 4th St in Grandview, WA 98930, the property combines the main duplex with additional casita structures and storage space. The existing layout and improvements should be evaluated in their current condition.
Key Highlights
- Duplex with 2 casitas
- 2,052 square feet of property area
- Separate storage building
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
$23,039
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
8.86%
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%
$460,780
$460.8K
Cap Rate 7%
$329,129
$329.1K
Cap Rate 9%
$255,989
$256.0K
Market Conditions
NOI Build-Up for 2,052 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
$35.2K $17.16/SF
− Vacancy
−$2.3K −$1.12/SF
EGI
$32.9K $16.04/SF
− OpEx
−$9.9K −$4.81/SF
NOI
$23.0K $11.23/SF
Area
Yakima County, WA
Vacancy
6.53%
Lease Rate
$17.16 /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%
$460,780
Cap Rate 7%
$329,129
Cap Rate 9%
$255,989
Alternative Uses
Best Use
Multifamily LT 5
$329.1K
$288.0K – $384.0K
NOI $23,039 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$286.5K
$250.7K – $334.2K
NOI $20,054 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$416.7K
$364.6K – $486.2K
NOI $29,170 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 98930, WA
15,339
Population
4,910
Households
3.1
Avg Household Size
30
Median Age
9%
College-Educated
67%
High-School Grad
44.9 sq mi
ZIP Area
342
Density / Sq Mi
$67,798
Median Household Income
$34,675
Median Earnings
$980
Median Rent
$277,600
Median Home Value
Check the figures for this property
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 - Duplex property with two additional casitas, a storage building, and a tree-lined lot.
Where is this duplex located?
The property is located at 506 W 4th St Grandview, WA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Duplex with 2 casitas; 2,052 square feet of property area; Separate storage building
