Historic Home with Two Rental
640 N ELM St Colville, WA 99114
640 N ELM St, Colville, WA, 99114
$750,000
For Sale
$750,000
COMMERCIAL - COLVILLE, WA
Property Size4,800 SF
Lot Size0.33 Acres
Price / SF$156.25
Days on Market21
Property Features for 640 N ELM St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- 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
Building Details
- Year built
- 1906
Listing Agency
KELLER WILLIAMS REALTY COLVILLE
(509) 684-1414
1375 MAIN, Colville, WA
Listed by
Day Star Realty Team
(509) 593-1059
Added: Jun 29 Checked: Jul 19 at 11:06 am
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.
Investment Insights
Based on property information with market context.
This masterfully restored historic home blends Edwardian detail with modern amenities and is currently configured as two separate rental units. The main home offers 5 bedrooms and 4 bathrooms. A detached guest home provides 1 bedroom and 1 bathroom and features its own alley access. Guest amenities include a gourmet kitchen and a hot tub, with furnishings available for purchase. The listing also references an air-conditioning system.
The property sits on a 0.33-acre lot and contains approximately 4,800 square feet of building area. It was opened for rentals in March, operating as a short-term rental with Air BnB bookings. Financials are available in the documents and through the listing agent, including information through August and to-date for September.
For buyers or operators looking for an income-producing short-term rental setup, the configuration offers an owner-friendly option with a larger primary unit and a separate guest unit. The presence of dedicated alley access to the guest house can support privacy and operational separation between the two rentals. Furnishings may also be purchased, which may help reduce near-term setup time for new operators. For updated details and the provided financials, contact the listing agent.
The property sits on a 0.33-acre lot and contains approximately 4,800 square feet of building area. It was opened for rentals in March, operating as a short-term rental with Air BnB bookings. Financials are available in the documents and through the listing agent, including information through August and to-date for September.
For buyers or operators looking for an income-producing short-term rental setup, the configuration offers an owner-friendly option with a larger primary unit and a separate guest unit. The presence of dedicated alley access to the guest house can support privacy and operational separation between the two rentals. Furnishings may also be purchased, which may help reduce near-term setup time for new operators. For updated details and the provided financials, contact the listing agent.
Key Highlights
- Historic home built in 1906 with Edwardian details and modern amenities
- Main home offers 5 bedrooms and 4 baths
- Guest home is a 1 bedroom, 1 bath house with its own alley access
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.5k | $17.40 |
| − Vacancy | −$5.1k | −$1.06 |
| EGI | $78.4k | $16.34 |
| − OpEx | −$23.5k | −$4.90 |
| NOI | $54.9k | $11.44 |
4,800 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$784.4K
$686.4K – $915.2K
NOI $54,909 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$682.0K
$596.8K – $795.7K
NOI $47,740 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,688 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
What type of property is this?
Short term rental property - Restored Edwardian-style home configured for two short-term rental units, including a guest house 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 $750,000.
What are key features of this property?
This property features: Historic home built in 1906 with Edwardian details and modern amenities; Main home offers 5 bedrooms and 4 baths; Guest home is a 1 bedroom, 1 bath house with its own alley access
