Income Duplex with
For Sale
$2,550,000
5230 16th Avenue NE, Seattle, WA 98105
8-bed main house plus newer 3-bed DADU, with tenants paying utilities and substantial rental income reported.
Property Size4,030 SF
Price / SF$632.75
Days on Market145
Property Features for 5230 16th Avenue NE
General Information
Standard status
Active
Size
4,030 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$162,561
Additional Details
Cap Rate
6.4%
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,585
Amenities
Yes
No
2
Electric,Natural Gas
Public
0.0992
Wood,Wood Products
4030
3
Building Details
Building Size
4,030 SF
Year Built
1922
Stories
2
Listing Agency:
BCR LLC
(503) 757-6995
Listed By:
Marla Knauss
(503) 757-6995
Source:
Premierepropertygroup
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 8 at 3:59AM
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 BCR LLC
Investment Insights
Based on property information with market context.
This duplex-style residential income property includes an 8-bed main house and a newer 3-bed DADU. The home features radiant in-floor heat and mini-split systems, along with a renovated basement and remodeled interior areas including the kitchen and powder room. The property has also undergone significant infrastructure upgrades, including new electrical and plumbing.
According to the provided remarks, the property is generating $15,100 per month ($181,200 per year) in rental income, with “true zero vacancy,” and tenants pay all utilities. A stabilized NOI of approximately $160K is also referenced in the listing materials.
The property is listed for $2.55M, and the remarks describe the asset as an established, upgraded income offering in the University District area at 5230 16th Avenue NE, Seattle, WA 98105.
According to the provided remarks, the property is generating $15,100 per month ($181,200 per year) in rental income, with “true zero vacancy,” and tenants pay all utilities. A stabilized NOI of approximately $160K is also referenced in the listing materials.
The property is listed for $2.55M, and the remarks describe the asset as an established, upgraded income offering in the University District area at 5230 16th Avenue NE, Seattle, WA 98105.
Key Highlights
- 8‑bed main house plus a newer 3‑bed DADU on a 0.0992‑acre lot
- Reported rental income of $15,100/month ($181,200/year) with tenants paying all utilities
- Stated stabilized NOI of approximately $160K; listed at $2.55M (about 6.4% cap rate / 14× GRM)
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
$72,739
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
2.85%
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%
$1,454,780
$1.5M
Cap Rate 7%
$1,039,129
$1.0M
Cap Rate 9%
$808,211
$808.2K
Market Conditions
NOI Build-Up for 4,030 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
$108.8K $27.00/SF
− Vacancy
−$4.9K −$1.22/SF
EGI
$103.9K $25.79/SF
− OpEx
−$31.2K −$7.74/SF
NOI
$72.7K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /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%
$1,454,780
Cap Rate 7%
$1,039,129
Cap Rate 9%
$808,211
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$909.2K – $1.21M
NOI $72,739 @ 7.0% cap · market cap 2.85%
Second Best
Apartment 5plus
$971.7K
$850.2K – $1.13M
NOI $68,018 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,871 @ 7.0% cap · market cap 3.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 98105, WA
49,151
Population
20,582
Households
2.4
Avg Household Size
27
Median Age
77%
College-Educated
99%
High-School Grad
3.8 sq mi
ZIP Area
12,934
Density / Sq Mi
$78,691
Median Household Income
$34,947
Median Earnings
$1,803
Median Rent
$1,261,100
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 - 8-bed main house plus newer 3-bed DADU, with tenants paying utilities and substantial rental income reported.
Where is this duplex located?
The property is located at 5230 16th Avenue NE Seattle, WA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 8‑bed main house plus a newer 3‑bed DADU on a 0.0992‑acre lot; Reported rental income of $15,100/month ($181,200/year) with tenants paying all utilities; Stated stabilized NOI of approximately $160K; listed at $2.55M (about 6.4% cap rate / 14× GRM)
