Two-Unit Duplex with
For Sale
$349,900
706 Laurel St, Kelso, WA 98626
Corner property with separate residences, private parking, and a fenced backyard.
Property Size1,572 SF
Lot Size0.11 Acres
Price / SF$222.58
Days on Market474
Property Features for 706 Laurel St
General Information
Standard status
Active
Size
1,572 SF
Lot size
0.11 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/0.75BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,342
Amenities
laundry room
fenced backyard
Building Details
Buildings
1
Listing Agency:
Woodford Commercial RE
(360) 501-5500
Listed By:
Chris Roewe · License #23495
(360) 501-5500
Source:
Exprealty
Added: May 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:05AM
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 Woodford Commercial RE
Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,572 SF of living space, plus nearly 300 SF of garage area. The larger residence includes three bedrooms, one bathroom, a substantial laundry room, an attached one-car garage, and a fenced backyard with additional side-yard space. The second unit offers one bedroom, a three-quarter bathroom, and dedicated off-street parking.
The property occupies a 4,800 SF corner lot at 706 Laurel St in Kelso, WA. Long-term tenants are already in place, providing established occupancy for an owner seeking a two-unit residential income property. The combination of separate living arrangements, garage space, outdoor area, and on-site parking creates a straightforward duplex configuration.
The property occupies a 4,800 SF corner lot at 706 Laurel St in Kelso, WA. Long-term tenants are already in place, providing established occupancy for an owner seeking a two-unit residential income property. The combination of separate living arrangements, garage space, outdoor area, and on-site parking creates a straightforward duplex configuration.
Key Highlights
- Two residential units with 1,572 SF of combined living space
- Nearly 300 SF of garage space, including an attached one‑car garage
- Three‑bedroom, one‑bath unit with a large laundry room
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
$18,094
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
5.17%
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%
$361,880
$361.9K
Cap Rate 7%
$258,486
$258.5K
Cap Rate 9%
$201,044
$201.0K
Market Conditions
NOI Build-Up for 1,572 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
$27.4K $17.40/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$25.8K $16.44/SF
− OpEx
−$7.8K −$4.93/SF
NOI
$18.1K $11.51/SF
Area
Cowlitz County, WA
Vacancy
5.50%
Lease Rate
$17.40 /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%
$361,880
Cap Rate 7%
$258,486
Cap Rate 9%
$201,044
Alternative Uses
Best Use
Multifamily LT 5
$258.5K
$226.2K – $301.6K
NOI $18,094 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$237.4K
$207.7K – $276.9K
NOI $16,615 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$517.9K
$453.2K – $604.3K
NOI $36,255 @ 7.0% cap · market cap 10.36%
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
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 98626, WA
26,291
Population
10,642
Households
2.5
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
134.6 sq mi
ZIP Area
195
Density / Sq Mi
$70,058
Median Household Income
$40,996
Median Earnings
$1,169
Median Rent
$339,800
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 - Corner property with separate residences, private parking, and a fenced backyard.
Where is this duplex located?
The property is located at 706 Laurel St Kelso, WA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two residential units with 1,572 SF of combined living space; Nearly 300 SF of garage space, including an attached one‑car garage; Three‑bedroom, one‑bath unit with a large laundry room
