Duplex with
For Sale
$895,000
8115 145TH, Snohomish, WA 98290
Two-unit property with one occupied residence, one vacant unit, private outdoor areas, and no HOA.
Property Size2,348 SF
Lot Size1.31 Acres
Price / SF$381.18
Days on Market34
Property Features for 8115 145TH
General Information
Standard status
Active
Size
2,348 SF
Lot size
1.31 Acres
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1.5BA, 3 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1980
Buildings
1
Listing Agency:
RE/MAX Elite
Listed By:
Robert Serviss
(425) 205-2135
Source:
Skylineproperties
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 4:14PM
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 RE/MAX Elite
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains 2,348 square feet across two separate residences on a 1.31-acre lot. The first unit provides two bedrooms, 1.5 baths, 1,018 SF, a fenced private yard, stone countertops, included kitchen appliances, and a wood-burning fireplace. The second offers three bedrooms, 1.5 baths, 1,330 SF, an attached one-car garage, engineered wood flooring, a heat pump for air conditioning, an upgraded bath vanity, stone countertops, and a large patio. Both residences include laundry, wood-burning fireplaces, and central-vacuum hookups.
Unit 1 is occupied, while Unit 2 is vacant. Additional features include a utility sink, extra refrigerator, and fenced yard at Unit 2. The property is located near Snohomish Golf Course, within the Snohomish School District, and has no HOA.
Unit 1 is occupied, while Unit 2 is vacant. Additional features include a utility sink, extra refrigerator, and fenced yard at Unit 2. The property is located near Snohomish Golf Course, within the Snohomish School District, and has no HOA.
Key Highlights
- 1.31‑acre lot with 57,064 SF of land
- Two residences totaling 2,348 SF
- Unit 1: 2 bed, 1.5 bath, 1,018 SF
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
$39,141
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
4.37%
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%
$782,820
$782.8K
Cap Rate 7%
$559,157
$559.2K
Cap Rate 9%
$434,900
$434.9K
Market Conditions
NOI Build-Up for 2,348 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
$59.2K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$55.9K $23.81/SF
− OpEx
−$16.8K −$7.14/SF
NOI
$39.1K $16.67/SF
Area
Snohomish County, WA
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%
$782,820
Cap Rate 7%
$559,157
Cap Rate 9%
$434,900
Alternative Uses
Best Use
Multifamily LT 5
$559.2K
$489.3K – $652.4K
NOI $39,141 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$501.7K
$439.0K – $585.3K
NOI $35,120 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$654.8K
$573.0K – $764.0K
NOI $45,837 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 98290, WA
37,535
Population
15,348
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
95%
High-School Grad
117.5 sq mi
ZIP Area
319
Density / Sq Mi
$129,656
Median Household Income
$68,573
Median Earnings
$1,591
Median Rent
$717,600
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 - Two-unit property with one occupied residence, one vacant unit, private outdoor areas, and no HOA.
Where is this duplex located?
The property is located at 8115 145TH Snohomish, WA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 1.31‑acre lot with 57,064 SF of land; Two residences totaling 2,348 SF; Unit 1: 2 bed, 1.5 bath, 1,018 SF
