Duplex with Attached
For Sale
$849,950
8011 Aurora Ave N, Seattle, WA 98103
The property includes two separate residences, in-unit laundry, central air, and secured parking.
Property Size2,490 SF
Price / SF$341.35
Days on Market10
Property Features for 8011 Aurora Ave N
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR+den/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
in-unit laundry
central air
patio
storage
attached garage
covered carport
gated entry
Building Details
Year Built
1920
Listing Agency:
WILCOX REAL ESTATE
Listed By:
Charles and Janette Wilcox
(253) 256-1721
Source:
Wilcoxrealestatewa
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 22 at 5:11PM
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 WILCOX REAL ESTATE
Investment Insights
Based on property information with market context.
This 2,490-square-foot Seattle duplex, built in 1920, contains two independent residences. The upper home offers 2 bedrooms, a den, and 2 baths, while the main-level residence provides 2 bedrooms and 1 bath. Interior features include hardwood and tile flooring, vaulted ceilings, skylights, and an updated kitchen with stone countertops, custom cabinetry, a gas range, and a breakfast bar. Each residence includes in-unit laundry, and the property has central air, a patio, and storage areas.
The property is located at 8011 Aurora Ave N near Greenwood and Green Lake, with access to transit, neighborhood shops, and Green Lake. Parking and entry improvements include an attached garage, covered carport, and gated access.
The property is located at 8011 Aurora Ave N near Greenwood and Green Lake, with access to transit, neighborhood shops, and Green Lake. Parking and entry improvements include an attached garage, covered carport, and gated access.
Key Highlights
- 2,490 SF duplex with two independent residences
- Upper residence includes 2 bedrooms, den, and 2 baths
- Main‑level residence includes 2 bedrooms and 1 bath
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
$44,473
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
5.23%
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%
$889,460
$889.5K
Cap Rate 7%
$635,329
$635.3K
Cap Rate 9%
$494,144
$494.1K
Market Conditions
NOI Build-Up for 2,490 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
$67.2K $27.00/SF
− Vacancy
−$3.7K −$1.49/SF
EGI
$63.5K $25.51/SF
− OpEx
−$19.1K −$7.65/SF
NOI
$44.5K $17.86/SF
Area
ZIP 98103
Vacancy
5.50%
Lease Rate
$27.00 /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%
$889,460
Cap Rate 7%
$635,329
Cap Rate 9%
$494,144
Alternative Uses
Best Use
Multifamily LT 5
$635.3K
$555.9K – $741.2K
NOI $44,473 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$567.5K
$496.6K – $662.1K
NOI $39,728 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$1.01M
$880.7K – $1.17M
NOI $70,457 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,609
Businesses Nearby
Explore this area
Business Placement
Demographics for 98103, WA
53,056
Population
27,857
Households
1.9
Avg Household Size
35
Median Age
77%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
11,534
Density / Sq Mi
$127,372
Median Household Income
$80,508
Median Earnings
$2,006
Median Rent
$1,012,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes two separate residences, in-unit laundry, central air, and secured parking.
Where is this duplex located?
The property is located at 8011 Aurora Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $849,950.
What are key features of this property?
This property features: 2,490 SF duplex with two independent residences; Upper residence includes 2 bedrooms, den, and 2 baths; Main‑level residence includes 2 bedrooms and 1 bath
