Duplex with Remodeled Upper
For Sale
$360,000
621 W 2nd St, Aberdeen, WA 98520
Two separate residences occupy a corner lot with distinct layouts and generous living space.
Property Size2,720 SF
Price / SF$132.35
Days on Market14
Property Features for 621 W 2nd St
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Better Properties Grays Harbor
Listed By:
Kristi Christensen · License #23007534
(360) 470-0354
Source:
Seattlepropertysource
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 22 at 5:22PM
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 Better Properties Grays Harbor
Investment Insights
Based on property information with market context.
This duplex at 621 W 2nd St in Aberdeen, WA, contains 2,720 square feet and was built in 1922. The property includes two 3-bedroom residences with separate interior configurations. The upper unit has 1 bathroom and an open arrangement linking the living room, dining area, and kitchen; it has also been remodeled recently. The lower unit provides 3 bedrooms and 1.75 bathrooms, creating a different layout within the same building.
Positioned on a large corner lot, the property offers outdoor space in addition to the two-unit configuration. Its separate residences support rental use, multigenerational living, or an owner-occupied arrangement, as described for the property.
Positioned on a large corner lot, the property offers outdoor space in addition to the two-unit configuration. Its separate residences support rental use, multigenerational living, or an owner-occupied arrangement, as described for the property.
Key Highlights
- Two 3‑bedroom units within one duplex
- 2,720 square feet on a large corner lot
- Upper unit remodeled recently with an open living, dining, and kitchen layout
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
$24,830
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
6.90%
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%
$496,600
$496.6K
Cap Rate 7%
$354,714
$354.7K
Cap Rate 9%
$275,889
$275.9K
Market Conditions
NOI Build-Up for 2,720 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
$37.5K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$35.5K $13.04/SF
− OpEx
−$10.6K −$3.91/SF
NOI
$24.8K $9.13/SF
Area
Grays Harbor County, WA
Vacancy
5.50%
Lease Rate
$13.80 /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%
$496,600
Cap Rate 7%
$354,714
Cap Rate 9%
$275,889
Alternative Uses
Best Use
Multifamily LT 5
$354.7K
$310.4K – $413.8K
NOI $24,830 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$328.9K
$287.8K – $383.7K
NOI $23,023 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$749.8K
$656.1K – $874.8K
NOI $52,485 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 98520, WA
24,086
Population
9,333
Households
2.6
Avg Household Size
41
Median Age
14%
College-Educated
89%
High-School Grad
217.5 sq mi
ZIP Area
111
Density / Sq Mi
$59,744
Median Household Income
$34,591
Median Earnings
$1,034
Median Rent
$237,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate residences occupy a corner lot with distinct layouts and generous living space.
Where is this duplex located?
The property is located at 621 W 2nd St Aberdeen, WA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two 3‑bedroom units within one duplex; 2,720 square feet on a large corner lot; Upper unit remodeled recently with an open living, dining, and kitchen layout
