Duplex with Attached
New
For Sale
$625,000
7015 Gaston Lane, Tumwater, WA 98501
Both residences provide two bedrooms, a wood-burning stove, laundry hookups, and a private fenced yard.
Property Size2,064 SF
Price / SF$302.81
Days on Market7
Property Features for 7015 Gaston Lane
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
washer/dryer hookup
wood burning stove
private yard fencing
Building Details
Year Built
1978
Listing Agency:
Skyline Properties,Inc.
Listed By:
Eric Johnson
(206) 550-4573
Source:
Skylineproperties
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 9:53AM
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 Skyline Properties,Inc.
Investment Insights
Based on property information with market context.
This 1978 duplex contains 2,064 square feet across two residences, each measuring 1,032 square feet. Both units have two bedrooms, one bathroom, washer and dryer hookups, a wood-burning stove, and a private attached garage. The roof is two years old; yard fencing is new, and the garage doors have been replaced.
The property is near Tumwater High School and Tumwater City Hall, with several state office buildings a short drive away. A second duplex owned by the same owner is across the street. Tenants pay electricity, while the owner covers water.
The property is near Tumwater High School and Tumwater City Hall, with several state office buildings a short drive away. A second duplex owned by the same owner is across the street. Tenants pay electricity, while the owner covers water.
Key Highlights
- Two units, each with 1,032 square feet, 2 bedrooms, and 1 bathroom
- 2,064‑square‑foot duplex built in 1978
- Each residence has a private attached garage, washer/dryer hookup, and wood‑burning stove
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
$28,074
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
4.49%
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%
$561,480
$561.5K
Cap Rate 7%
$401,057
$401.1K
Cap Rate 9%
$311,933
$311.9K
Market Conditions
NOI Build-Up for 2,064 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
$42.1K $20.40/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$40.1K $19.43/SF
− OpEx
−$12.0K −$5.83/SF
NOI
$28.1K $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%
$561,480
Cap Rate 7%
$401,057
Cap Rate 9%
$311,933
Alternative Uses
Best Use
Multifamily LT 5
$401.1K
$350.9K – $467.9K
NOI $28,074 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$369.8K
$323.5K – $431.4K
NOI $25,883 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$604.3K
$528.8K – $705.1K
NOI $42,304 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Explore this area
Business Placement
Demographics for 98501, WA
45,274
Population
19,969
Households
2.3
Avg Household Size
40
Median Age
48%
College-Educated
97%
High-School Grad
34.9 sq mi
ZIP Area
1,297
Density / Sq Mi
$95,695
Median Household Income
$55,909
Median Earnings
$1,600
Median Rent
$485,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Both residences provide two bedrooms, a wood-burning stove, laundry hookups, and a private fenced yard.
Where is this duplex located?
The property is located at 7015 Gaston Lane Tumwater, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two units, each with 1,032 square feet, 2 bedrooms, and 1 bathroom; 2,064‑square‑foot duplex built in 1978; Each residence has a private attached garage, washer/dryer hookup, and wood‑burning stove
