Updated Duplex With Two
For Sale
$649,900
7216 NE 14TH CT, Vancouver, WA 98665
Vacant, fenced units support flexible occupancy, including an owner-occupied arrangement or leasing both residences.
Property Size2,748 SF
Price / SF$236.50
Days on Market14
Property Features for 7216 NE 14TH CT
General Information
Standard status
Active
Size
2,748 SF
Property subtype
MULTI_FAMILY
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,432
Building Details
Building Size
2,748 SF
Year Built
1997
Listing Agency:
John L. Scott Real Estate
(503) 740-2231
Listed By:
Starling Preuninger
(503) 740-2231
Source:
Currangrouprealtors
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 9 at 11:31AM
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 John L. Scott Real Estate
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,748 square feet of living space across two residences, each with 3 bedrooms and 2 1/2 bathrooms. One unit has a single-car garage, while the other includes a two-car garage. Both residences are fully fenced and were built in 1997.
Recent work includes interior paint, carpeting, light fixtures, interior doors, and select linoleum flooring in both units. Exterior improvements include paint completed in 2020, a 50-year roof installed in 2019, water heaters replaced in 2021, and newer gas furnaces dating to 2020. Both units are currently vacant, allowing an owner to occupy one residence, lease the other, or place both units on the rental market. Shopping, dining, and access to I-5 and I-205 are nearby.
Recent work includes interior paint, carpeting, light fixtures, interior doors, and select linoleum flooring in both units. Exterior improvements include paint completed in 2020, a 50-year roof installed in 2019, water heaters replaced in 2021, and newer gas furnaces dating to 2020. Both units are currently vacant, allowing an owner to occupy one residence, lease the other, or place both units on the rental market. Shopping, dining, and access to I-5 and I-205 are nearby.
Key Highlights
- Two‑unit duplex with approximately 2,748 square feet of living space
- Each unit includes 3 bedrooms and 2 1/2 bathrooms
- Single‑car garage for one unit and two‑car garage for the other
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
$36,718
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
5.65%
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%
$734,360
$734.4K
Cap Rate 7%
$524,543
$524.5K
Cap Rate 9%
$407,978
$408.0K
Market Conditions
NOI Build-Up for 2,748 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
$55.1K $20.04/SF
− Vacancy
−$2.6K −$0.95/SF
EGI
$52.5K $19.09/SF
− OpEx
−$15.7K −$5.73/SF
NOI
$36.7K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$734,360
Cap Rate 7%
$524,543
Cap Rate 9%
$407,978
Alternative Uses
Best Use
Multifamily LT 5
$524.5K
$459.0K – $612.0K
NOI $36,718 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$455.4K
$398.4K – $531.3K
NOI $31,875 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$672.4K
$588.3K – $784.4K
NOI $47,065 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 98665, WA
28,780
Population
11,894
Households
2.4
Avg Household Size
38
Median Age
29%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,889
Density / Sq Mi
$83,750
Median Household Income
$46,000
Median Earnings
$1,678
Median Rent
$447,700
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 - Vacant, fenced units support flexible occupancy, including an owner-occupied arrangement or leasing both residences.
Where is this duplex located?
The property is located at 7216 NE 14TH CT Vancouver, WA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,748 square feet of living space; Each unit includes 3 bedrooms and 2 1/2 bathrooms; Single‑car garage for one unit and two‑car garage for the other
