Brick Duplex with Attached
For Sale
$699,000
7418 Rainier Ave S, Seattle, WA 98118
Two residential units offer hardwood floors, private basements, garages, and separate driveway parking.
Property Size2,860 SF
Price / SF$244.41
Days on Market45
Property Features for 7418 Rainier Ave S
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Multi-Family
Zoning
LR3(M)
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
laundry
storage
Building Details
Year Built
1953
Construction
brick
Listing Agency:
AQUA Real Estate
(360) 338-8355
Listed By:
Rick Juma
Source:
Eastsideseattleproperties
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 25 at 6:12AM
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 AQUA Real Estate
Investment Insights
Based on property information with market context.
This 1953 brick duplex contains two residential units, each with 2 bedrooms, 1 full bath, and approximately 840 square feet. Both layouts include hardwood flooring, large windows, kitchens with dining areas, attached one-car garages, and additional driveway parking. Spacious basements provide laundry facilities and storage, with room for added finished living or recreation space. The total property size is 2,860 square feet.
The property is located at 7418 Rainier Ave S in Seattle, near Light Rail, Columbia City, Seward Park, and Lake Washington. LR3(M) zoning supports the property's multifamily classification. The rear unit is vacant and ready for occupancy, while the front unit is tenant occupied, creating a two-unit configuration with one occupied residence and one available unit.
The property is located at 7418 Rainier Ave S in Seattle, near Light Rail, Columbia City, Seward Park, and Lake Washington. LR3(M) zoning supports the property's multifamily classification. The rear unit is vacant and ready for occupancy, while the front unit is tenant occupied, creating a two-unit configuration with one occupied residence and one available unit.
Key Highlights
- Two‑unit duplex with approximately 840 square feet per unit
- Each unit includes 2 bedrooms and 1 full bath
- Spacious basements provide laundry and storage space
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
$47,676
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
6.82%
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%
$953,520
$953.5K
Cap Rate 7%
$681,086
$681.1K
Cap Rate 9%
$529,733
$529.7K
Market Conditions
NOI Build-Up for 2,860 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
$72.1K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$68.1K $23.81/SF
− OpEx
−$20.4K −$7.14/SF
NOI
$47.7K $16.67/SF
Area
ZIP 98118
Vacancy
5.50%
Lease Rate
$25.20 /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%
$953,520
Cap Rate 7%
$681,086
Cap Rate 9%
$529,733
Alternative Uses
Best Use
Multifamily LT 5
$681.1K
$596.0K – $794.6K
NOI $47,676 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$613.5K
$536.8K – $715.8K
NOI $42,947 @ 7.0% cap · market cap 6.14%
Theoretical Best
Specialty Retail
$1.03M
$900.4K – $1.20M
NOI $72,033 @ 7.0% cap · market cap 10.31%
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
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 98118, WA
47,504
Population
19,831
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
90%
High-School Grad
6.2 sq mi
ZIP Area
7,662
Density / Sq Mi
$109,085
Median Household Income
$54,827
Median Earnings
$1,831
Median Rent
$746,400
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 residential units offer hardwood floors, private basements, garages, and separate driveway parking.
Where is this duplex located?
The property is located at 7418 Rainier Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 840 square feet per unit; Each unit includes 2 bedrooms and 1 full bath; Spacious basements provide laundry and storage space
