Side-by-Side Duplex with Private
For Sale
$629,000
922 Northwest Greeley Street, Camas, WA 98607
Two townhouse-style units offer locked storage, functional layouts, and off-street parking.
Property Size1,891 SF
Lot Size0.11 Acres
Price / SF$332.63
Days on Market150
Property Features for 922 Northwest Greeley Street
General Information
Standard status
Active
Size
1,891 SF
Total Parking Spaces
4
Lot size
0.11 Acres
Property subtype
Multi Family
Zoning
MF-18
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,433
Amenities
private entries
locked storage
off-street parking
2
Crawl Space
Composition
T111Siding
Building Details
Year Built
1974
Construction
town house style
Tenancy
Multi
Listing Agency:
List4FlatFee.com, LLC
(425) 344-6779
Listed By:
Stacie Whitfield · License #13147
(425) 344-6779
Source:
Compass
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 6:49PM
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 List4FlatFee.com, LLC
Investment Insights
Based on property information with market context.
Built in 1974, this 1,891-square-foot duplex contains two side-by-side townhouse-style residences on a 5,000-square-foot lot. Each unit provides 2 bedrooms, 1.5 bathrooms, approximately 940 sq ft, a private entrance, and locked storage. The property also includes crawl-space areas, composition roofing, T111 siding, and off-street parking.
Both residences are occupied under month-to-month tenancies. Original architectural plans are available for the next owner. The property is zoned MF-18 and located within the Camas School District, with downtown shops and dining nearby and access to Hwy 14 within minutes.
Both residences are occupied under month-to-month tenancies. Original architectural plans are available for the next owner. The property is zoned MF-18 and located within the Camas School District, with downtown shops and dining nearby and access to Hwy 14 within minutes.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms, 1.5 bathrooms, and approximately 940 sq ft
- 1,891‑square‑foot duplex on a 5,000‑square‑foot lot
- Private entrances, locked storage, and off‑street parking
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
$24,637
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
3.92%
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%
$492,740
$492.7K
Cap Rate 7%
$351,957
$352.0K
Cap Rate 9%
$273,744
$273.7K
Market Conditions
NOI Build-Up for 1,891 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
$37.4K $19.80/SF
− Vacancy
−$2.2K −$1.19/SF
EGI
$35.2K $18.61/SF
− OpEx
−$10.6K −$5.58/SF
NOI
$24.6K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /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%
$492,740
Cap Rate 7%
$351,957
Cap Rate 9%
$273,744
Alternative Uses
Best Use
Multifamily LT 5
$352.0K
$308.0K – $410.6K
NOI $24,637 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$328.6K
$287.5K – $383.4K
NOI $23,002 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$460.7K
$403.1K – $537.5K
NOI $32,249 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 98607, WA
35,054
Population
12,667
Households
2.8
Avg Household Size
40
Median Age
53%
College-Educated
96%
High-School Grad
47.6 sq mi
ZIP Area
736
Density / Sq Mi
$132,234
Median Household Income
$64,422
Median Earnings
$1,854
Median Rent
$648,700
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 townhouse-style units offer locked storage, functional layouts, and off-street parking.
Where is this duplex located?
The property is located at 922 Northwest Greeley Street Camas, WA.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms, 1.5 bathrooms, and approximately 940 sq ft; 1,891‑square‑foot duplex on a 5,000‑square‑foot lot; Private entrances, locked storage, and off‑street parking
