Two-Unit Duplex with Storage
For Sale
$450,000
914 West 39th Street, Vancouver, WA 98660
Two matching residences offer separate utilities, hardwood flooring, and designated off-street parking for each unit.
Property Size1,774 SF
Price / SF$253.66
Days on Market218
Property Features for 914 West 39th Street
General Information
Standard status
Active
Size
1,774 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
R6
Property Condition
Severity
Repairs Needed
Evidence
some cosmetic updates possible
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,280
Amenities
washer/dryer hookups
storage basement
1
Exterior Entry, Storage Space, Unfinished
Concrete Perimeter
Composition
Brick
Building Details
Year Built
1942
Listing Agency:
Keller Williams Realty Professionals
(503) 828-9551
Listed By:
Rick Sadle · License #88904
(503) 828-9551
Source:
Compass
Added: Jan 25
Changed: Aug 31
Last Checked: Aug 31 at 4:43AM
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 Keller Williams Realty Professionals
Investment Insights
Based on property information with market context.
This 1,774-square-foot duplex contains two matching one-bedroom, one-bath units with efficient layouts and spacious living areas. Oak hardwood floors and built-in cabinetry add character, while each residence has its own electric water heater, forced-air electric furnace, and separate power service. The building dates to 1942 and includes brick and composition exterior materials.
An unfinished basement expands the property’s functional space with separate washer and dryer hookups for both units, storage capacity, and an additional refrigerator. Each unit is assigned one off-street driveway parking space. The property is zoned R6 and is located on West 39th Street in Vancouver, with nearby amenities, transit, and everyday services described as accessible on foot or by bicycle.
An unfinished basement expands the property’s functional space with separate washer and dryer hookups for both units, storage capacity, and an additional refrigerator. Each unit is assigned one off-street driveway parking space. The property is zoned R6 and is located on West 39th Street in Vancouver, with nearby amenities, transit, and everyday services described as accessible on foot or by bicycle.
Key Highlights
- 1,774‑square‑foot duplex with two matching units
- Each unit includes 1 bedroom and 1 bathroom
- Separate electric water heaters, furnaces, and power for each residence
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
$23,704
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
5.27%
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%
$474,080
$474.1K
Cap Rate 7%
$338,629
$338.6K
Cap Rate 9%
$263,378
$263.4K
Market Conditions
NOI Build-Up for 1,774 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
$35.6K $20.04/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$33.9K $19.09/SF
− OpEx
−$10.2K −$5.73/SF
NOI
$23.7K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /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%
$474,080
Cap Rate 7%
$338,629
Cap Rate 9%
$263,378
Alternative Uses
Best Use
Multifamily LT 5
$338.6K
$296.3K – $395.1K
NOI $23,704 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$294.0K
$257.2K – $343.0K
NOI $20,578 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$434.0K
$379.8K – $506.4K
NOI $30,383 @ 7.0% cap · market cap 6.75%
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
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 98660, WA
12,735
Population
7,048
Households
1.8
Avg Household Size
39
Median Age
38%
College-Educated
91%
High-School Grad
15.3 sq mi
ZIP Area
832
Density / Sq Mi
$65,147
Median Household Income
$51,895
Median Earnings
$1,408
Median Rent
$444,300
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 - Two matching residences offer separate utilities, hardwood flooring, and designated off-street parking for each unit.
Where is this duplex located?
The property is located at 914 West 39th Street Vancouver, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,774‑square‑foot duplex with two matching units; Each unit includes 1 bedroom and 1 bathroom; Separate electric water heaters, furnaces, and power for each residence
