Well-Maintained Townhome Duplex
For Sale
Contact for pricing
630 90th St SW, Everett, WA 98204
Duplex with strong rental history in high-demand area.
Property Size2,964 SF
Lot Size0.25 Acres
Price / SF$290.13
Days on Market176
Property Features for 630 90th St SW
General Information
Standard status
Active
Size
2,964 SF
Total Parking Spaces
4
Lot size
0.25 Acres
Property subtype
Multifamily
Occupancy
99%
Building Details
Year Built
1995
Buildings
1
Stories
2
Units
2
Listing Agency:
HomeSmart Real Estate Associates
(206) 523-7653
Listed By:
Jason Stricevich · License #119920
Source:
Crexi
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 20 at 10:54AM
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 HomeSmart Real Estate Associates
Investment Insights
Based on property information with market context.
This well-maintained mirror-image townhome duplex, constructed in 1995, is located on a quiet dead-end street in the Mukilteo School District. Situated on a quarter-acre lot bordered by a greenbelt, the 2,964 sq ft property is set back on a private drive. Each unit features 3 bedrooms, 2.5 bathrooms, a 2-car garage, and a fully fenced backyard, with all bedrooms located upstairs. The property has a strong rental history with long-term tenants and a 99.99% occupancy rate over 8 years, presenting an excellent investment opportunity with minimal turnover and reliable cash flow in a high-demand rental area. Major upgrades completed in 2022 include a new 30-year roof, exterior paint, and perimeter fencing. The property is located minutes from Boeing and 6 blocks from an elementary school. Current rents are scheduled to increase on May 1st to $2,300 and $2,495 with long term tenants.
Key Highlights
- Strong rental history with long‑term tenants and 99.99% occupancy over 8 years, providing reliable cash flow.
- Each unit features 3 beds, 2.5 baths, a 2‑car garage, and a fully fenced backyard.
- Recent major upgrades in 2022 include a new 30‑year roof, exterior paint, and perimeter fencing.
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
$49,059
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
5.70%
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%
$981,180
$981.2K
Cap Rate 7%
$700,843
$700.8K
Cap Rate 9%
$545,100
$545.1K
Market Conditions
NOI Build-Up for 2,964 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
$74.7K $25.20/SF
− Vacancy
−$4.6K −$1.55/SF
EGI
$70.1K $23.65/SF
− OpEx
−$21.0K −$7.09/SF
NOI
$49.1K $16.55/SF
Area
Everett, WA
Vacancy
6.17%
Lease Rate
$25.20 /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%
$981,180
Cap Rate 7%
$700,843
Cap Rate 9%
$545,100
Alternative Uses
Best Use
Multifamily LT 5
$700.8K
$613.2K – $817.7K
NOI $49,059 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$627.1K
$548.7K – $731.6K
NOI $43,898 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$981.1K
$858.5K – $1.14M
NOI $68,678 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 98204, WA
44,810
Population
18,914
Households
2.4
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
7.2 sq mi
ZIP Area
6,224
Density / Sq Mi
$66,592
Median Household Income
$44,349
Median Earnings
$1,732
Median Rent
$386,300
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 - Duplex with strong rental history in high-demand area.
Where is this duplex located?
The property is located at 630 90th St SW Everett, WA.
What is the asking price?
The asking price for this property is $859,950.
What are key features of this property?
This property features: Strong rental history with long‑term tenants and 99.99% occupancy over 8 years, providing reliable cash flow.; Each unit features 3 beds, 2.5 baths, a 2‑car garage, and a fully fenced backyard.; Recent major upgrades in 2022 include a new 30‑year roof, exterior paint, and perimeter fencing.
