Updated Three-Unit
New
For Sale
$989,500
5807 March Ln, Sumner, WA 98390
Three refreshed residences offer private outdoor areas, garages, and in-unit laundry.
Property Size3,168 SF
Price / SF$312.34
Days on Market2
Property Features for 5807 March Ln
General Information
Standard status
Active
Size
3,168 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/1.5BA
Multifamily Units
3
Parking per Unit
1
Amenities
washer & dryer
fireplaces
patios
fenced backyards
Building Details
Year Built
1981
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Chris Murphy · License #111144
(360) 918-6497
Source:
Pugetsoundrealestate
Added: Sep 13
Last Checked: Sep 14 at 9:21AM
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 Compass
Investment Insights
Based on property information with market context.
Located at 5807 March Ln in Sumner, this 3,168-square-foot triplex contains three updated two-bedroom residences, each with 1.5 baths, a washer and dryer, vinyl windows, laminate flooring, a fireplace, and a one-car garage. Unit A adds quartz kitchen countertops, new cabinets, and an updated bathroom. The property was built in 1981.
Each residence includes a patio and a fenced backyard, while additional driveway parking supports the three-unit configuration. Set within a cul-de-sac and surrounded by homes, the property is near schools, parks, and other amenities. All three units are tenant-occupied and currently rented.
Each residence includes a patio and a fenced backyard, while additional driveway parking supports the three-unit configuration. Set within a cul-de-sac and surrounded by homes, the property is near schools, parks, and other amenities. All three units are tenant-occupied and currently rented.
Key Highlights
- Three fully updated two‑bedroom units, each with 1.5 baths
- 3,168‑square‑foot triplex built in 1981
- Each unit includes a washer and dryer, fireplace, vinyl windows, laminate flooring, and a one‑car garage
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
$41,564
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
4.20%
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%
$831,280
$831.3K
Cap Rate 7%
$593,771
$593.8K
Cap Rate 9%
$461,822
$461.8K
Market Conditions
NOI Build-Up for 3,168 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
$63.9K $20.16/SF
− Vacancy
−$4.5K −$1.42/SF
EGI
$59.4K $18.74/SF
− OpEx
−$17.8K −$5.62/SF
NOI
$41.6K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /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%
$831,280
Cap Rate 7%
$593,771
Cap Rate 9%
$461,822
Alternative Uses
Best Use
Multifamily LT 5
$593.8K
$519.6K – $692.7K
NOI $41,564 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$547.7K
$479.2K – $638.9K
NOI $38,336 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$855.6K
$748.7K – $998.3K
NOI $59,895 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 98390, WA
11,727
Population
4,836
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
91%
High-School Grad
9.2 sq mi
ZIP Area
1,275
Density / Sq Mi
$97,815
Median Household Income
$56,909
Median Earnings
$1,886
Median Rent
$471,500
Median Home Value
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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?
Triplex - Three refreshed residences offer private outdoor areas, garages, and in-unit laundry.
Where is this triplex located?
The property is located at 5807 March Ln Sumner, WA.
What is the asking price?
The asking price for this property is $989,500.
What are key features of this property?
This property features: Three fully updated two‑bedroom units, each with 1.5 baths; 3,168‑square‑foot triplex built in 1981; Each unit includes a washer and dryer, fireplace, vinyl windows, laminate flooring, and a one‑car garage
