2-Unit Short-Term Rental
For Sale
$739,900
640 N ELM St, Colville, WA 99114
Commercial, COLVILLE, WA
Property Size4,800 SF
Lot Size0.33 Acres
Price / SF$154.15
Days on Market549
Property Features for 640 N ELM St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential
Rooms
Basement
Parking features
Off Street, Covered
Exterior features
Fence, Landscaped, Road Frontage
Fencing
Fenced
Fireplace
1
Basement
Walk-Out Access, Daylight, Full
Directions
395 to 3rd Ave. go East 2 Blocks, Left on Elm to sign on Right.
Subdivision
S1 - Colville
Standard status
Active
APN
0091300
Size
4,800 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Colville L.W. Meyers tax #6, Block 4, Colville LW Meyers Beginning 90' N of the SW corner of block 4 Meyers.
Tax Annual Amount
1647
Legal Description
Colville L.W. Meyers tax #6, Block 4, Colville LW Meyers Beginning 90' N of the SW corner of block 4 Meyers.
Utilities
Heating system
Heat Pump (Heating), Other (Heating), Forced Air, Fireplace(s), Natural Gas, Radiant Floor, Radiant
Water source
Public
Amenities
gourmet kitchen
hot tub
Building Details
Year built
1906
Flooring type
Wood, Tile - Ceramic, Carpet
Listing Agency:
KELLER WILLIAMS REALTY COLVILLE
(509) 684-1414
Listed By:
Day Star Realty Team
(509) 593-1059
Added: Apr 17, 2025
Changed: Oct 15
Last Checked: Oct 17 at 8:06PM
MLS# 44494
Copyright © 2026 Northeast Washington Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1906, this 4,800-square-foot property pairs a five-bedroom, four-bathroom main residence with a separate one-bedroom, one-bathroom guest house. The historic home has been restored, with wood, ceramic tile, and carpet flooring, a fireplace, and a basement. The guest house has its own alley access; guest amenities include a gourmet kitchen and hot tub.
The 0.33-acre parcel has public water, landscaping, fencing, and covered and off-street parking. Furnishings may be available for purchase.
The 0.33-acre parcel has public water, landscaping, fencing, and covered and off-street parking. Furnishings may be available for purchase.
Key Highlights
- Two rental units: a 5‑bedroom, 4‑bath main home and a 1‑bedroom, 1‑bath guest house
- 4,800 square feet on a 0.33‑acre parcel
- Historic residence built in 1906 and restored
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.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
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 historic residence and separate guest house offer two distinct rental accommodations.
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: Two rental units: a 5‑bedroom, 4‑bath main home and a 1‑bedroom, 1‑bath guest house; 4,800 square feet on a 0.33‑acre parcel; Historic residence built in 1906 and restored
