Tenant-Occupied
For Sale
$799,000
6011 Northeast 105th Avenue, Vancouver, WA 98662
Two-unit residential property with updated interiors, private fenced yards, and tenant occupancy.
Property Size2,834 SF
Price / SF$281.93
Days on Market187
Property Features for 6011 Northeast 105th Avenue
General Information
Standard status
Active
Size
2,834 SF
Total Parking Spaces
4
Property subtype
Multi Family
Zoning
R-18
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,062
Amenities
LVP flooring
granite countertops
kitchen pantry
gas range
built in microwave
built in dishwasher
vinyl windows
walk in closet
vaulted ceiling
ceiling fan
forced air heat & A/C
fiber cement siding
concrete patio
fenced yard
2
Composition
Cement Siding
Building Details
Year Built
2021
Buildings
1
Listing Agency:
Premiere Property Group, LLC
(360) 909-1179
Listed By:
John Bishop · License #47728
(360) 909-1179
Source:
Compass
Added: Feb 24
Changed: Aug 29
Last Checked: Aug 29 at 5:00PM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
Built in 2021, this tenant-occupied duplex contains 2,834 square feet with two separately configured residences of 1,417 square feet each. Every side offers 3 bedrooms and 2 1/2 bathrooms, along with LVP flooring, granite countertops, a pantry, gas range, built-in microwave, and built-in dishwasher. Additional features include vinyl windows, walk-in closets, vaulted ceilings, ceiling fans, forced-air heating and air conditioning, fiber cement siding, concrete patios, and fenced yards.
The property is located at 6011 Northeast 105th Avenue in Vancouver, Washington, and carries R-18 zoning. Its recent construction and two-unit layout provide a defined residential income property configuration.
The property is located at 6011 Northeast 105th Avenue in Vancouver, Washington, and carries R-18 zoning. Its recent construction and two-unit layout provide a defined residential income property configuration.
Key Highlights
- 2,834‑square‑foot duplex built in 2021
- Two 1,417‑square‑foot residences, each with 3 bedrooms and 2 1/2 bathrooms
- Currently tenant occupied
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
$37,867
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
4.74%
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%
$757,340
$757.3K
Cap Rate 7%
$540,957
$541.0K
Cap Rate 9%
$420,744
$420.7K
Market Conditions
NOI Build-Up for 2,834 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
$56.8K $20.04/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$54.1K $19.09/SF
− OpEx
−$16.2K −$5.73/SF
NOI
$37.9K $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%
$757,340
Cap Rate 7%
$540,957
Cap Rate 9%
$420,744
Alternative Uses
Best Use
Multifamily LT 5
$541.0K
$473.3K – $631.1K
NOI $37,867 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$469.6K
$410.9K – $547.9K
NOI $32,873 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$693.4K
$606.7K – $809.0K
NOI $48,538 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
767
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with updated interiors, private fenced yards, and tenant occupancy.
Where is this duplex located?
The property is located at 6011 Northeast 105th Avenue Vancouver, 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: 2,834‑square‑foot duplex built in 2021; Two 1,417‑square‑foot residences, each with 3 bedrooms and 2 1/2 bathrooms; Currently tenant occupied
