Agricultural Land With
For Sale
$399,999
57 Raven Lane, Manson, WA 98831
Existing duplex includes well, septic, power, and household appliances for onsite use.
Property Size1,120 SF
Price / SF$357.14
Days on Market457
Property Features for 57 Raven Lane
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Farm
Taxes and HOA fees
Annual Taxes
$3,230
Amenities
2, 0
0, 0, 0, 0, 0, 0, 0
No
Yes, Wall Unit(s)
Yes, Baseboard
Bath Off Primary, Dbl Pane/Storm Window, Family/Rec Room, Sprinkler System
Dryer(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Composition
Metal/Vinyl
Second Barn
Dryer(s),Refrigerator(s),Stove(s)/Range(s),Washer(s)
Building Details
Year Built
1990
Listing Agency:
Nick McLean Real Estate Group
(509) 670-5532
Listed By:
Angie Coleman · License #114699
(509) 670-5532
Source:
Compass
Added: Jun 1, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:12AM
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 Nick McLean Real Estate Group
Investment Insights
Based on property information with market context.
This 5.16-acre agricultural parcel at 57 Raven Lane includes a 1,120-square-foot duplex built in 1990. The improvements have well, septic, and power, along with wall unit and baseboard heating, double-pane or storm windows, a family or recreation room, and a sprinkler system. Appliances include refrigerators, stoves or ranges, washers, and dryers.
The property carries LCRD irrigation rights and offers 360-degree views. Its setting between Manson and Chelan provides a rural location with existing residential improvements and agricultural land in the same holding.
The property carries LCRD irrigation rights and offers 360-degree views. Its setting between Manson and Chelan provides a rural location with existing residential improvements and agricultural land in the same holding.
Key Highlights
- 5.16‑acre agricultural parcel at 57 Raven Lane
- 1,120‑square‑foot duplex built in 1990
- Well, septic, and power already serve the property
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
$13,164
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
3.29%
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%
$263,280
$263.3K
Cap Rate 7%
$188,057
$188.1K
Cap Rate 9%
$146,267
$146.3K
Market Conditions
NOI Build-Up for 1,120 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
$19.5K $17.40/SF
− Vacancy
−$682 −$0.61/SF
EGI
$18.8K $16.79/SF
− OpEx
−$5.6K −$5.04/SF
NOI
$13.2K $11.75/SF
Area
Chelan County, WA
Vacancy
3.50%
Lease Rate
$17.40 /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%
$263,280
Cap Rate 7%
$188,057
Cap Rate 9%
$146,267
Alternative Uses
Best Use
Multifamily LT 5
$188.1K
$164.6K – $219.4K
NOI $13,164 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$158.8K
$138.9K – $185.2K
NOI $11,114 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$293.8K
$257.0K – $342.7K
NOI $20,563 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 98831, WA
3,955
Population
2,253
Households
1.8
Avg Household Size
48
Median Age
32%
College-Educated
78%
High-School Grad
47.0 sq mi
ZIP Area
84
Density / Sq Mi
$73,223
Median Household Income
$34,316
Median Earnings
$1,397
Median Rent
$652,300
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?
Agricultural land / Farmland - Existing duplex includes well, septic, power, and household appliances for onsite use.
Where is this agricultural land / farmland located?
The property is located at 57 Raven Lane Manson, WA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 5.16‑acre agricultural parcel at 57 Raven Lane; 1,120‑square‑foot duplex built in 1990; Well, septic, and power already serve the property
