New Construction
For Sale
$799,000
5861 & 5865 W 40th Ct, Kennewick, WA 99338
Two residences feature upscale finishes, private backyards, and included appliances.
Property Size2,984 SF
Price / SF$267.76
Days on Market16
Property Features for 5861 & 5865 W 40th Ct
General Information
Standard status
Active
Size
2,984 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Dk Bain Real Estate, Inc
(509) 949-1771
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 8:51PM
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 Dk Bain Real Estate, Inc
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex property contains two residences totaling 2,984 square feet. Each unit offers just under 1,500 square feet with three bedrooms and two-and-a-half bathrooms. Interior details include water-resistant laminate flooring in the bedrooms, stairs, and primary living areas, along with tiled bathrooms, quartz countertops, stainless steel appliances, full-height kitchen backsplashes, and a blend of painted and stained cabinetry with crown molding. Wood-wrapped windows and doors add a finished architectural detail throughout both homes.
Each residence includes a private backyard with pet-resistant turf and zero-maintenance landscaping, plus a full appliance package. The property is near Bob Olsen Parkway and Southridge High School, with freeway access and proximity to shopping, dining, parks, schools, and everyday amenities. The listed address is 5861 & 5865 W 40th Ct, Kennewick, WA 99338.
Each residence includes a private backyard with pet-resistant turf and zero-maintenance landscaping, plus a full appliance package. The property is near Bob Olsen Parkway and Southridge High School, with freeway access and proximity to shopping, dining, parks, schools, and everyday amenities. The listed address is 5861 & 5865 W 40th Ct, Kennewick, WA 99338.
Key Highlights
- Two duplex residences total 2,984 square feet
- Each unit has just under 1,500 square feet, 3 bedrooms, and 2.5 bathrooms
- Built in 2026
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
$25,956
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
3.25%
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%
$519,120
$519.1K
Cap Rate 7%
$370,800
$370.8K
Cap Rate 9%
$288,400
$288.4K
Market Conditions
NOI Build-Up for 2,984 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
$40.5K $13.56/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$37.1K $12.43/SF
− OpEx
−$11.1K −$3.73/SF
NOI
$26.0K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$519,120
Cap Rate 7%
$370,800
Cap Rate 9%
$288,400
Alternative Uses
Best Use
Multifamily LT 5
$370.8K
$324.5K – $432.6K
NOI $25,956 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$328.4K
$287.4K – $383.2K
NOI $22,990 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$827.7K
$724.2K – $965.6K
NOI $57,936 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 99338, WA
19,117
Population
6,909
Households
2.8
Avg Household Size
37
Median Age
42%
College-Educated
94%
High-School Grad
35.5 sq mi
ZIP Area
539
Density / Sq Mi
$116,002
Median Household Income
$55,295
Median Earnings
$1,474
Median Rent
$526,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature upscale finishes, private backyards, and included appliances.
Where is this duplex located?
The property is located at 5861 & 5865 W 40th Ct Kennewick, WA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two duplex residences total 2,984 square feet; Each unit has just under 1,500 square feet, 3 bedrooms, and 2.5 bathrooms; Built in 2026
