Duplex with Three-Bay
For Sale
$925,000
7380 Woodland, Ferndale, WA 98248
Single-story primary home with a two-bedroom, two-bath accessory dwelling unit and multiple outdoor improvements.
Property Size2,722 SF
Price / SF$339.82
Days on Market73
Property Features for 7380 Woodland
General Information
Standard status
Active
Size
2,722 SF
Property subtype
Multi-family
Building Details
Year Built
1970
Listing Agency:
Best Choice Realty LLC
Listed By:
Brenton Wolters
(425) 205-2135
Source:
Skylineproperties
Added: May 29
Changed: Aug 8
Last Checked: Aug 8 at 4:26PM
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 Best Choice Realty LLC
Investment Insights
Based on property information with market context.
This duplex property includes a single-story, four-bedroom primary home with a kitchen oriented toward the landscaped grounds and a slider opening to a broad patio. A separate two-bedroom, two-bath accessory dwelling unit is positioned toward the rear of the property. The site also includes a three-bay shop or garage with a bonus workroom, two storage sheds, and two carports.
The address is 7380 Woodland in Ferndale, Washington, with access to I-5 at Grandview Road approximately three minutes away. The property occupies a shy one-acre setting with pastoral views to the east and a fully fenced front yard. Built in 1970, it combines residential living space with substantial storage, parking, and workshop improvements.
The address is 7380 Woodland in Ferndale, Washington, with access to I-5 at Grandview Road approximately three minutes away. The property occupies a shy one-acre setting with pastoral views to the east and a fully fenced front yard. Built in 1970, it combines residential living space with substantial storage, parking, and workshop improvements.
Key Highlights
- Four‑bedroom, single‑story primary home
- Two‑bedroom, two‑bath accessory dwelling unit
- Three‑bay shop/garage with bonus 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
$31,662
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
3.42%
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%
$633,240
$633.2K
Cap Rate 7%
$452,314
$452.3K
Cap Rate 9%
$351,800
$351.8K
Market Conditions
NOI Build-Up for 2,722 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
$47.4K $17.40/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$45.2K $16.62/SF
− OpEx
−$13.6K −$4.99/SF
NOI
$31.7K $11.63/SF
Area
Whatcom County, WA
Vacancy
4.50%
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%
$633,240
Cap Rate 7%
$452,314
Cap Rate 9%
$351,800
Alternative Uses
Best Use
Multifamily LT 5
$452.3K
$395.8K – $527.7K
NOI $31,662 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$418.8K
$366.5K – $488.7K
NOI $29,319 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$642.1K
$561.9K – $749.2K
NOI $44,950 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 98248, WA
26,784
Population
10,576
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
71.8 sq mi
ZIP Area
373
Density / Sq Mi
$88,566
Median Household Income
$50,059
Median Earnings
$1,455
Median Rent
$550,300
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 - Single-story primary home with a two-bedroom, two-bath accessory dwelling unit and multiple outdoor improvements.
Where is this duplex located?
The property is located at 7380 Woodland Ferndale, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four‑bedroom, single‑story primary home; Two‑bedroom, two‑bath accessory dwelling unit; Three‑bay shop/garage with bonus room
