Two-Duplex Residential Income
For Sale
$799,900
6521 201st, Rochester, WA 98579
Four two-bedroom residences include private garages, electric fireplaces, and individual one-bath layouts.
Property Size3,200 SF
Price / SF$249.97
Days on Market42
Property Features for 6521 201st
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
electric fireplaces
Building Details
Year Built
2009
Buildings
2
Listing Agency:
Dream Weavers Inc.
(360) 273-3333
Listed By:
Larry Weaver · License #13381WASHINGTON
Source:
Chehalisvalleyrealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 4:16AM
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 Dream Weavers Inc.
Investment Insights
Based on property information with market context.
This residential income property consists of two duplex buildings with four rental units totaling approximately 3,200 square feet. Each residence offers about 800 sq. ft., a two-bedroom, one-bath layout, and an electric fireplace. The buildings were constructed in 2009 and have recently received new roofs. Single-car garages and additional outdoor parking serve the units, while the private cul-de-sac setting keeps the buildings off the main road.
The property is approximately five minutes from I-5 access at Exit 88, with commuting routes toward Olympia and Centralia. Restaurants are a short distance away, Lucky Eagle Casino is about 15 minutes from the property, Safeway in Centralia is less than 6 miles away, and Costco in Tumwater is approximately 20 minutes away.
The property is approximately five minutes from I-5 access at Exit 88, with commuting routes toward Olympia and Centralia. Restaurants are a short distance away, Lucky Eagle Casino is about 15 minutes from the property, Safeway in Centralia is less than 6 miles away, and Costco in Tumwater is approximately 20 minutes away.
Key Highlights
- Two duplexes provide 4 rental units totaling approximately 3,200 square feet
- Each unit has 2 bedrooms, 1 bath, approximately 800 sq.ft., and an electric fireplace
- Built in 2009 with a recent new roof on each building
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
$43,525
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
5.44%
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%
$870,500
$870.5K
Cap Rate 7%
$621,786
$621.8K
Cap Rate 9%
$483,611
$483.6K
Market Conditions
NOI Build-Up for 3,200 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
$65.3K $20.40/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$62.2K $19.43/SF
− OpEx
−$18.7K −$5.83/SF
NOI
$43.5K $13.60/SF
Area
Thurston County, WA
Vacancy
4.75%
Lease Rate
$20.40 /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%
$870,500
Cap Rate 7%
$621,786
Cap Rate 9%
$483,611
Alternative Uses
Best Use
Multifamily LT 5
$621.8K
$544.1K – $725.4K
NOI $43,525 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$573.3K
$501.6K – $668.8K
NOI $40,128 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$937.0K
$819.8K – $1.09M
NOI $65,587 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 98579, WA
13,648
Population
5,005
Households
2.7
Avg Household Size
42
Median Age
19%
College-Educated
92%
High-School Grad
94.2 sq mi
ZIP Area
145
Density / Sq Mi
$94,284
Median Household Income
$47,834
Median Earnings
$1,222
Median Rent
$405,500
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?
Duplex - Four two-bedroom residences include private garages, electric fireplaces, and individual one-bath layouts.
Where is this duplex located?
The property is located at 6521 201st Rochester, WA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two duplexes provide 4 rental units totaling approximately 3,200 square feet; Each unit has 2 bedrooms, 1 bath, approximately 800 sq.ft., and an electric fireplace; Built in 2009 with a recent new roof on each building
