Restored Historic Short-Term
For Sale
$750,000
640 N ELM St, Colville, WA 99114
Commercial, COLVILLE, WA
Property Size4,800 SF
Lot Size0.33 Acres
Price / SF$156.25
Days on Market504
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
Basement
Full, Walk-Out Access, Daylight
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
Radiant Floor, Forced Air, Radiant, Other (Heating), Heat Pump (Heating), Natural Gas
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: Aug 19
Last Checked: Sep 2 at 6:06PM
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.
Investment Insights
Based on property information with market context.
This 4,800-square-foot short-term rental property occupies 0.33 acres and includes a historic main home together with a separate guest house. Built in 1906 and restored with Edwardian details, the primary residence provides 5 bedrooms and 4 baths. The guest house adds 1 bedroom and 1 bath, with its own alley access.
Guest-oriented features include a gourmet kitchen and hot tub. The property has wood, ceramic tile, and carpet flooring, along with radiant floor, forced-air, radiant, heat pump, and natural gas heating systems. Public water serves the site, while the grounds include landscaping, fencing, off-street parking, covered parking, and road frontage. Furnishings are available for separate purchase.
Guest-oriented features include a gourmet kitchen and hot tub. The property has wood, ceramic tile, and carpet flooring, along with radiant floor, forced-air, radiant, heat pump, and natural gas heating systems. Public water serves the site, while the grounds include landscaping, fencing, off-street parking, covered parking, and road frontage. Furnishings are available for separate purchase.
Key Highlights
- 4,800‑square‑foot property on 0.33 acres
- 1906 historic home restored with Edwardian details
- Main residence offers 5 bedrooms and 4 baths
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
$47,740
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
6.37%
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%
$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
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
$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 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%
$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 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,688 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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?
Short term rental property - Two rental units include a main residence and a separate guest house with independent 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: 4,800‑square‑foot property on 0.33 acres; 1906 historic home restored with Edwardian details; Main residence offers 5 bedrooms and 4 baths
