Two-Home Short-Term Rental
For Sale
$739,900
640 N Elm St, Colville, WA 99114
A restored 5-bedroom main residence is paired with a separate 1-bedroom guest home with alley access.
Property Size4,800 SF
Price / SF$154.15
Days on Market561
Property Features for 640 N Elm St
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
10
Property subtype
Residential Income
Units
Unit Mix
main house (5BR/4BA), guest house (1BR/1BA)
Multifamily Units
2
Additional Details
Currently Operating
Yes
Amenities
Hot Water
Other
Pantry
Kitchen Island
Natural Woodwork
In-Law Floorplan
Building Details
Building Size
4,800 SF
Year Built
1906
Buildings
2
Stories
2
Units
2
Listing Agency:
Keller Williams Colville
(509) 684-1414
Listed By:
Arna Banfe · License #125928
(509) 738-3338
Source:
Ericksrealty
Added: Apr 16, 2025
Changed: Oct 26
Last Checked: Oct 26 at 3:47AM
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 Keller Williams Colville
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Investment Insights
Based on property information with market context.
This 4,800-square-foot short-term rental property includes a main residence and a separate guest home. Built in 1906, the main house has 5 bedrooms and 4 bathrooms, while the guest home contains 1 bedroom and 1 bathroom and is accessed from an alley. The property combines Edwardian architectural details with modern amenities.
The main house entered the rental market in March. During its first month, it was booked for 23 days; in April, both homes were booked nearly to capacity.
The main house entered the rental market in March. During its first month, it was booked for 23 days; in April, both homes were booked nearly to capacity.
Key Highlights
- 4,800‑square‑foot property built in 1906
- Main residence has 5 bedrooms and 4 bathrooms
- Separate guest home includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,740
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$954,800
$954.8K
Cap Rate 7%
$682,000
$682.0K
Cap Rate 9%
$530,444
$530.4K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$92.7K $19.32/SF
− Vacancy
−$5.9K −$1.24/SF
EGI
$86.8K $18.08/SF
− OpEx
−$39.1K −$8.14/SF
NOI
$47.7K $9.95/SF
Area
Stevens County, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$954,800
Cap Rate 7%
$682,000
Cap Rate 9%
$530,444
Alternative Uses
Best Use
Apartment 5plus
$682.0K
$596.8K – $795.7K
NOI $47,740 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,688 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
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Business Placement
Demographics for 99114, WA
12,649
Population
6,154
Households
2.1
Avg Household Size
49
Median Age
23%
College-Educated
91%
High-School Grad
718.5 sq mi
ZIP Area
18
Density / Sq Mi
$61,891
Median Household Income
$45,164
Median Earnings
$916
Median Rent
$268,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Short term rental property - A restored 5-bedroom main residence is paired with a separate 1-bedroom guest home with alley access.
Where is this short term rental property located?
The property is located at 640 N Elm St Colville, WA.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: 4,800‑square‑foot property built in 1906; Main residence has 5 bedrooms and 4 bathrooms; Separate guest home includes 1 bedroom and 1 bathroom
