Two-Story Duplex with Six-Car
For Sale
$369,000
601 Ayers Street, Kelso, WA 98626
Corner-lot property combines two residential units with basement storage and individual fireplaces.
Property Size2,460 SF
Price / SF$150
Days on Market167
Property Features for 601 Ayers Street
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Multi Family
Zoning
R02
Taxes and HOA fees
Annual Taxes
$3,198
Amenities
2
Full Basement, Unfinished
Block
Composition
Shingle Siding, Wood Siding
Building Details
Year Built
1910
Listing Agency:
Kelly Right Real Estate Vancouver
(360) 901-5735
Listed By:
Rosilee Smith · License #49102
(360) 901-5735
Source:
Compass
Added: Mar 19
Changed: Aug 31
Last Checked: Aug 31 at 12:47AM
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 Kelly Right Real Estate Vancouver
Investment Insights
Based on property information with market context.
This two-story duplex contains 2460 square feet across two separate units. The main-level residence offers 1120 sq ft with 3 bedrooms, 1.5 bathrooms, a spacious layout, and a fireplace. The upper unit provides 864 sq ft, 2 bedrooms, 1 bathroom, and its own fireplace. Built in 1910, the property has received interior updates and exterior paint. An unfinished full basement adds storage capacity, while the oversized 6-car garage provides substantial enclosed parking and additional utility.
The property is located at 601 Ayers Street in Kelso, WA 98626, on a corner lot near shopping, dining, and everyday amenities. A new Amazon distribution center is being developed nearby. R02 zoning is also identified for the property.
The property is located at 601 Ayers Street in Kelso, WA 98626, on a corner lot near shopping, dining, and everyday amenities. A new Amazon distribution center is being developed nearby. R02 zoning is also identified for the property.
Key Highlights
- 2460‑square‑foot duplex built in 1910
- Main unit: 1120 sq ft, 3 bedrooms, and 1.5 bathrooms
- Upper unit: 864 sq ft, 2 bedrooms, and 1 bathroom
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
$28,315
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
7.67%
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%
$566,300
$566.3K
Cap Rate 7%
$404,500
$404.5K
Cap Rate 9%
$314,611
$314.6K
Market Conditions
NOI Build-Up for 2,460 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
$42.8K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$40.4K $16.44/SF
− OpEx
−$12.1K −$4.93/SF
NOI
$28.3K $11.51/SF
Area
Cowlitz County, WA
Vacancy
5.50%
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%
$566,300
Cap Rate 7%
$404,500
Cap Rate 9%
$314,611
Alternative Uses
Best Use
Multifamily LT 5
$404.5K
$353.9K – $471.9K
NOI $28,315 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$371.4K
$325.0K – $433.3K
NOI $26,000 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$810.5K
$709.2K – $945.6K
NOI $56,735 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 98626, WA
26,291
Population
10,642
Households
2.5
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
134.6 sq mi
ZIP Area
195
Density / Sq Mi
$70,058
Median Household Income
$40,996
Median Earnings
$1,169
Median Rent
$339,800
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 - Corner-lot property combines two residential units with basement storage and individual fireplaces.
Where is this duplex located?
The property is located at 601 Ayers Street Kelso, WA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 2460‑square‑foot duplex built in 1910; Main unit: 1120 sq ft, 3 bedrooms, and 1.5 bathrooms; Upper unit: 864 sq ft, 2 bedrooms, and 1 bathroom
