2-Unit Duplex with
For Sale
$775,000
5601 NE 85TH AVE, Vancouver, WA 98662
Fully leased property with private yards, gas fireplaces, separate entrances, and convenient access to shopping, transit, and freeways.
Property Size2,424 SF
Days on Market8
Property Features for 5601 NE 85TH AVE
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
4
Property subtype
MULTI_FAMILY
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$6,292
Amenities
gas fireplaces
in-unit laundry hookups
private yards
private entrances
Building Details
Building Size
2,424 SF
Year Built
1996
Buildings
1
Tenancy
Multi
Listing Agency:
Premiere Property Group, LLC
Listed By:
William Hruby
(360) 281-9699
Source:
Currangrouprealtors
Added: Aug 26
Changed: Aug 30
Last Checked: Sep 2 at 2:11AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
Built in 1996, this duplex contains two residences, each offering 2 bedrooms, 2 bathrooms, a private entrance, spacious living areas, a gas fireplace, and a dedicated 2-car garage. Both units also include modern kitchens, in-unit laundry hookups, and private yards that extend the usable living space outdoors.
The property is fully leased to long-term tenants at market-rate rents. Its Vancouver setting places the duplex near schools, shopping at Van Mall, public transportation, and two major freeways. The combination of separate entrances, individual garages, and two-bedroom layouts supports distinct household occupancy within one income-producing property.
The property is fully leased to long-term tenants at market-rate rents. Its Vancouver setting places the duplex near schools, shopping at Van Mall, public transportation, and two major freeways. The combination of separate entrances, individual garages, and two-bedroom layouts supports distinct household occupancy within one income-producing property.
Key Highlights
- Two units, each with 2 bedrooms and 2 bathrooms
- Each residence includes its own 2‑car garage and private entrance
- Gas fireplaces, modern kitchens, and in‑unit laundry hookups
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
$32,389
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
4.18%
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%
$647,780
$647.8K
Cap Rate 7%
$462,700
$462.7K
Cap Rate 9%
$359,878
$359.9K
Market Conditions
NOI Build-Up for 2,424 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
$48.6K $20.04/SF
− Vacancy
−$2.3K −$0.95/SF
EGI
$46.3K $19.09/SF
− OpEx
−$13.9K −$5.73/SF
NOI
$32.4K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$647,780
Cap Rate 7%
$462,700
Cap Rate 9%
$359,878
Alternative Uses
Best Use
Multifamily LT 5
$462.7K
$404.9K – $539.8K
NOI $32,389 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$401.7K
$351.5K – $468.6K
NOI $28,117 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$593.1K
$519.0K – $691.9K
NOI $41,516 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 98662, WA
37,134
Population
14,609
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
2,856
Density / Sq Mi
$91,883
Median Household Income
$45,847
Median Earnings
$1,685
Median Rent
$424,200
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 - Fully leased property with private yards, gas fireplaces, separate entrances, and convenient access to shopping, transit, and freeways.
Where is this duplex located?
The property is located at 5601 NE 85TH AVE Vancouver, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 2 bathrooms; Each residence includes its own 2‑car garage and private entrance; Gas fireplaces, modern kitchens, and in‑unit laundry hookups
