Duplex with Heated
New
For Sale
$750,000
7415 100th St E, Puyallup, WA 98373
Income-producing layout includes a remodeled one-bedroom ADU, oversized service doors, office or storage space, and installed septic.
Property Size4,234 SF
Lot Size0.39 Acres
Price / SF$177.14
Days on Market7
Property Features for 7415 100th St E
General Information
Standard status
Active
Size
4,234 SF
Lot size
0.39 Acres
Property subtype
Multi-Family
Financials
Gross Income
$75,000
Average Monthly Rent
$1,750
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1982
Listing Agency:
Terrafin
(253) 466-3736
Listed By:
Dennis Folk · License #25739
Source:
Montgomeryht
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 12:14PM
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 Terrafin
Investment Insights
Based on property information with market context.
Built in 1982, this duplex property includes a 2-bedroom, 1-bath main home and a fully remodeled 1-bedroom, 1-bath non-conforming ADU attached to the rear of a large heated garage. The garage measures 1,800 square feet and includes an additional 600 square feet of office or storage space, two oversized doors, a half bath, insulation, engine-hoist-ready construction, and 320 amp power. The property contains 4,234 square feet overall, with septic already installed.
Located at 7415 100th St E in Puyallup, the property offers views of Mt. Rainier and the Cascades, along with access to freeways and the Puyallup S.D. The site also includes a 140 x 120 building-ready lot area, providing additional physical context for the property.
Located at 7415 100th St E in Puyallup, the property offers views of Mt. Rainier and the Cascades, along with access to freeways and the Puyallup S.D. The site also includes a 140 x 120 building-ready lot area, providing additional physical context for the property.
Key Highlights
- Duplex includes a 2‑bedroom, 1‑bath main home and a 1‑bedroom, 1‑bath non‑conforming ADU
- 1,800 sq ft heated garage with 600 sq ft of office or additional storage space
- Two oversized 14' tall x 12' wide doors and 320 amp power
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
$55,550
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
7.41%
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%
$1,111,000
$1.1M
Cap Rate 7%
$793,571
$793.6K
Cap Rate 9%
$617,222
$617.2K
Market Conditions
NOI Build-Up for 4,234 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
$85.4K $20.16/SF
− Vacancy
−$6.0K −$1.42/SF
EGI
$79.4K $18.74/SF
− OpEx
−$23.8K −$5.62/SF
NOI
$55.5K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /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%
$1,111,000
Cap Rate 7%
$793,571
Cap Rate 9%
$617,222
Alternative Uses
Best Use
Multifamily LT 5
$793.6K
$694.4K – $925.8K
NOI $55,550 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$731.9K
$640.4K – $853.9K
NOI $51,235 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,049 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 98373, WA
28,165
Population
11,113
Households
2.5
Avg Household Size
35
Median Age
26%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
2,996
Density / Sq Mi
$102,791
Median Household Income
$51,865
Median Earnings
$1,823
Median Rent
$517,600
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 - Income-producing layout includes a remodeled one-bedroom ADU, oversized service doors, office or storage space, and installed septic.
Where is this duplex located?
The property is located at 7415 100th St E Puyallup, WA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Duplex includes a 2‑bedroom, 1‑bath main home and a 1‑bedroom, 1‑bath non‑conforming ADU; 1,800 sq ft heated garage with 600 sq ft of office or additional storage space; Two oversized 14' tall x 12' wide doors and 320 amp power
