Building Details

Year Built 1949

Buildings 4

Listing Agency: eXp Realty

Listed By: Kristi Ann Kaylor Show Phone

Source: Theinspiregroup

Added: Aug 9 Changed: Oct 10 Last Checked: Oct 12 at 9:50PM

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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 eXp Realty

Investment Insights

Based on property information with market context.

This duplex property at 603 Kansas Street SW 1 & 2 includes two homes on one parcel and a reported 1,662 square feet. The secondary residence contains 624 square feet with one bedroom, one bathroom, and an attached garage. The main home has a separate detached one-car garage and shop, while additional site improvements include a 24-by-20-foot storage building, garden area, and fire pit. Built in 1949, the property requires restoration and offers flexible potential for rental income, owner occupancy, multigenerational living, or guest use.

The property is in Orting, Washington, within Pierce County. Area features identified for the community include scenic walking and biking trails, views of Mount Rainier, and a small-town setting.

Key Highlights

• Two homes located on one parcel
• 624 sq. ft. 1‑bedroom, 1‑bath secondary home with attached garage
• Reported property size of 1,662 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,805

Cap Rate

5.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$436,100 $436.1K

Cap Rate 7%

$311,500 $311.5K

Cap Rate 9%

$242,278 $242.3K

Market Conditions

NOI Build-Up for 1,662 SF

Gross rent

$33.5K $20.16/SF

− Vacancy

−$2.4K −$1.42/SF

EGI

$31.2K $18.74/SF

− OpEx

−$9.3K −$5.62/SF

NOI

$21.8K $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 Rate 5%

$436,100

Cap Rate 7%

$311,500

Cap Rate 9%

$242,278

Alternative Uses

Best Use

Multifamily LT 5

$311.5K

$272.6K – $363.4K (±1% cap)

NOI $21,805 @ 7.0% cap · market cap 5.46%

Second Best

Apartment 5plus

$287.3K

$251.4K – $335.2K (±1% cap)

NOI $20,112 @ 7.0% cap · market cap 5.04%

Theoretical Best

Office A

$448.9K

$392.8K – $523.7K (±1% cap)

NOI $31,422 @ 7.0% cap · market cap 7.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Big Box & Wholesale Store Law Firm Parking Lot & Garage Dental Office Electrical Service Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Demographics for 98360, WA

15,332

Population

5,328

Households

2.9

Avg Household Size

37

Median Age

22%

College-Educated

93%

High-School Grad

67.7 sq mi

ZIP Area

226

Density / Sq Mi

$114,801

Median Household Income

$65,006

Median Earnings

$2,293

Median Rent

$466,200

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two residences share one parcel with garage, storage, and outdoor improvements.

Where is this duplex located?

The property is located at 603 Kansas Street Sw 1 & 2 Orting, WA.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Two homes located on one parcel; 624 sq. ft. 1‑bedroom, 1‑bath secondary home with attached garage; Reported property size of 1,662 square feet