2-Unit Duplex with Private
New
For Sale
$775,000
5601 NE 85TH Ave, Vancouver, WA 98662
MultiFamily, Vancouver, WA
Property Size2,424 SF
Lot Size0.20 Acres
Price / SF$319.72
Days on Market4
Property Features for 5601 NE 85TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-22
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Subdivision
ALARICO DUPLEX SUBDIVISION
Elementary school
Walnut Grove
Middle school
Gaiser
High school
Fort Vancouver
Directions
SR 500, N on Thursday Way, E on NE 54th, N on 84th Ave turns to NE 56th St.
Standard status
Active
APN
105529702
Size
2,424 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
TALARICO DUPLEX SUBDIVISION LOT 7 SUB 97 FOR ASSESSOR USE ONLY TA
Tax Annual Amount
6293
Legal Description
TALARICO DUPLEX SUBDIVISION LOT 7 SUB 97 FOR ASSESSOR USE ONLY TA
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
gas fireplaces
modern kitchens
in-unit laundry hookups
private yards
private entrances
Building Details
Year built
1996
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(360) 693-6139
Listed By:
William Hruby
(360) 281-9699
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 29 at 12:06AM
MLS# 589620218
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,424-square-foot duplex was built in 1996 and includes two residences, each with two bedrooms, two bathrooms, a spacious living area, and a private entrance. Both units feature gas fireplaces, modern kitchens, in-unit laundry hookups, private yards, and individual two-car garages. Forced-air heating, central air, and composition roofing serve the property.
The 0.2-acre property is located at 5601 NE 85TH Ave in Vancouver, WA, near schools, Van Mall, public transportation, and two major freeways. Zoned R-22, the duplex is fully leased to long-term tenants at market-rate rents. Interior inspection is subject to an accepted offer.
The 0.2-acre property is located at 5601 NE 85TH Ave in Vancouver, WA, near schools, Van Mall, public transportation, and two major freeways. Zoned R-22, the duplex is fully leased to long-term tenants at market-rate rents. Interior inspection is subject to an accepted offer.
Key Highlights
- Two residences, each with 2 bedrooms and 2 bathrooms
- 2,424 square feet on a 0.2‑acre lot
- Each unit includes a private 2‑car garage and private yard
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 - Well-maintained R-22 residential income property with updated interiors, private outdoor areas, and full current occupancy.
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 residences, each with 2 bedrooms and 2 bathrooms; 2,424 square feet on a 0.2‑acre lot; Each unit includes a private 2‑car garage and private yard
