Single-Story Duplex with
For Sale
$599,000
6620 Littlerock Rd SW, Tumwater, WA 98512
Single-story duplex with individual garages, fireplaces, and off-street parking.
Property Size2,300 SF
Price / SF$260.43
Days on Market51
Property Features for 6620 Littlerock Rd SW
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Buildings
1
Stories
1
Listing Agency:
Virgil Adams Real Estate, Inc.
Listed By:
Tammy Adams · License #25034522
(360) 584-2736
Source:
Nfrrealty
Added: Aug 16
Changed: Sep 10
Last Checked: Oct 4 at 3:51PM
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 Virgil Adams Real Estate, Inc.
Investment Insights
Based on property information with market context.
This single-story duplex includes two separate residential units, each with a single-car garage and off-street parking. Unit A has been refreshed with new flooring, interior paint, lighting, counters, and faucets. Its layout includes 3 bedrooms, 1 full bath, large closets, interior laundry, and a pellet stove. Unit B offers 2 bedrooms, 1 full bath, two large bedrooms, a fireplace, and interior laundry. Unit B is tenant occupied.
The property encompasses just under 1 acre at 6620 Littlerock Rd Sw in Tumwater, Washington. Shopping is located down the street, and the property provides access to I-5 for commuters. The duplex also includes a combination of private garages and off-street parking for both units.
The property encompasses just under 1 acre at 6620 Littlerock Rd Sw in Tumwater, Washington. Shopping is located down the street, and the property provides access to I-5 for commuters. The duplex also includes a combination of private garages and off-street parking for both units.
Key Highlights
- Unit A includes 3 bedrooms, 1 full bath, interior laundry, large closets, a pellet stove, and a single‑car garage
- Unit B offers 2 bedrooms, 1 full bath, a fireplace, a single‑car garage, and off‑street parking
- Unit A updates include new flooring, interior paint, lighting, counters, and faucets
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
$31,284
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
5.22%
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%
$625,680
$625.7K
Cap Rate 7%
$446,914
$446.9K
Cap Rate 9%
$347,600
$347.6K
Market Conditions
NOI Build-Up for 2,300 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
$46.9K $20.40/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$44.7K $19.43/SF
− OpEx
−$13.4K −$5.83/SF
NOI
$31.3K $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%
$625,680
Cap Rate 7%
$446,914
Cap Rate 9%
$347,600
Alternative Uses
Best Use
Multifamily LT 5
$446.9K
$391.1K – $521.4K
NOI $31,284 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$412.0K
$360.5K – $480.7K
NOI $28,842 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$673.4K
$589.3K – $785.7K
NOI $47,141 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 98512, WA
31,422
Population
13,216
Households
2.4
Avg Household Size
41
Median Age
37%
College-Educated
95%
High-School Grad
138.7 sq mi
ZIP Area
227
Density / Sq Mi
$93,738
Median Household Income
$56,673
Median Earnings
$1,655
Median Rent
$438,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Single-story duplex with individual garages, fireplaces, and off-street parking.
Where is this duplex located?
The property is located at 6620 Littlerock Rd SW Tumwater, WA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Unit A includes 3 bedrooms, 1 full bath, interior laundry, large closets, a pellet stove, and a single‑car garage; Unit B offers 2 bedrooms, 1 full bath, a fireplace, a single‑car garage, and off‑street parking; Unit A updates include new flooring, interior paint, lighting, counters, and faucets
