4-Unit Quadplex with Updated
For Sale
$1,400,000
Pending
642 Maple St, Edmonds, WA 98020
Four residential units combine established occupancy, one available unit, and updated electrical and plumbing systems.
Property Size4,136 SF
Days on Market10
Property Features for 642 Maple St
General Information
Standard status
Pending
Size
4,136 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1959
Buildings
1
Listing Agency:
The Preview Group
Listed By:
Jesse L. Jaynes · License #4436
(360) 659-6800
Source:
Pugetsoundpropertyguide
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 9:50PM
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 The Preview Group
Investment Insights
Based on property information with market context.
This quadplex contains four 2-bedroom, 1-bath residences, each measuring 1,034 SF, for a combined PropertySize of 4,136 SF. The building dates to 1959 and has updated electrical and plumbing systems. Three units are occupied at below-market rents, while the remaining unit is vacant and available for showings. Interior improvements provide an opportunity to modernize the residences and reposition the existing rental operation.
The property sits at 642 Maple St in Edmonds, with a Walk Score of 87 and proximity to downtown Edmonds. The site also includes a large lot and abundant parking, supporting the four-unit configuration and its residential rental use.
The property sits at 642 Maple St in Edmonds, with a Walk Score of 87 and proximity to downtown Edmonds. The site also includes a large lot and abundant parking, supporting the four-unit configuration and its residential rental use.
Key Highlights
- Four 2‑bedroom, 1‑bath units, each measuring 1,034 sq ft
- 4,136 sq ft quadplex built in 1959
- Three units occupied at below‑market rents
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
$68,946
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
4.92%
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%
$1,378,920
$1.4M
Cap Rate 7%
$984,943
$984.9K
Cap Rate 9%
$766,067
$766.1K
Market Conditions
NOI Build-Up for 4,136 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
$104.2K $25.20/SF
− Vacancy
−$5.7K −$1.39/SF
EGI
$98.5K $23.81/SF
− OpEx
−$29.5K −$7.14/SF
NOI
$68.9K $16.67/SF
Area
Snohomish County, WA
Vacancy
5.50%
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%
$1,378,920
Cap Rate 7%
$984,943
Cap Rate 9%
$766,067
Alternative Uses
Best Use
Multifamily LT 5
$984.9K
$861.8K – $1.15M
NOI $68,946 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$883.8K
$773.3K – $1.03M
NOI $61,863 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,742 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 98020, WA
20,236
Population
9,379
Households
2.2
Avg Household Size
52
Median Age
60%
College-Educated
98%
High-School Grad
5.2 sq mi
ZIP Area
3,892
Density / Sq Mi
$122,243
Median Household Income
$73,725
Median Earnings
$1,894
Median Rent
$959,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units combine established occupancy, one available unit, and updated electrical and plumbing systems.
Where is this quadplex located?
The property is located at 642 Maple St Edmonds, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units, each measuring 1,034 sq ft; 4,136 sq ft quadplex built in 1959; Three units occupied at below‑market rents
