Single-Level Duplex with Updated
For Sale
$375,000
Pending
705 8th St, Benton City, WA 99320
Two attached residences feature practical layouts, natural light, and separate water heaters for each unit.
Property Size2,052 SF
Lot Size0.18 Acres
Days on Market120
Property Features for 705 8th St
General Information
Standard status
Pending
Size
2,052 SF
Lot size
0.18 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,077
Listing Agency:
Retter and Company Sotheby's
(509) 948-6606
Listed By:
Stephanie Garcia · License #108899
(509) 948-6606
Source:
Exprealty
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 2:50PM
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 Retter and Company Sotheby's
Investment Insights
Based on property information with market context.
This duplex contains two single-level residences, each measuring approximately 1,026 square feet, for 2,052 square feet combined. Both units are arranged for practical everyday living and receive natural light. Major building systems include a roof replaced in 2018, an HVAC system installed around 2016, and separate water heaters, with one approximately four years old and the other two years old.
The property occupies a 0.18-acre lot at 705 8th St in Benton City, Washington, within an established neighborhood near local amenities and schools. One unit is vacant, providing flexibility for an owner-occupant or a new tenancy while the second unit remains part of the duplex configuration.
The property occupies a 0.18-acre lot at 705 8th St in Benton City, Washington, within an established neighborhood near local amenities and schools. One unit is vacant, providing flexibility for an owner-occupant or a new tenancy while the second unit remains part of the duplex configuration.
Key Highlights
- Two‑unit duplex with approximately 2,052 SF total, including approximately 1,026 SF per unit
- Single‑level layouts with natural light in both residences
- Roof replaced in 2018
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
$17,849
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
4.76%
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%
$356,980
$357.0K
Cap Rate 7%
$254,986
$255.0K
Cap Rate 9%
$198,322
$198.3K
Market Conditions
NOI Build-Up for 2,052 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
$27.8K $13.56/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$25.5K $12.43/SF
− OpEx
−$7.6K −$3.73/SF
NOI
$17.8K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /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%
$356,980
Cap Rate 7%
$254,986
Cap Rate 9%
$198,322
Alternative Uses
Best Use
Multifamily LT 5
$255.0K
$223.1K – $297.5K
NOI $17,849 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$225.9K
$197.6K – $263.5K
NOI $15,810 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$569.1K
$498.0K – $664.0K
NOI $39,840 @ 7.0% cap · market cap 10.62%
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
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 99320, WA
10,215
Population
3,781
Households
2.7
Avg Household Size
40
Median Age
17%
College-Educated
87%
High-School Grad
209.3 sq mi
ZIP Area
49
Density / Sq Mi
$84,494
Median Household Income
$45,755
Median Earnings
$1,090
Median Rent
$300,300
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 - Two attached residences feature practical layouts, natural light, and separate water heaters for each unit.
Where is this duplex located?
The property is located at 705 8th St Benton City, WA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,052 SF total, including approximately 1,026 SF per unit; Single‑level layouts with natural light in both residences; Roof replaced in 2018
