Duplex with
For Sale
$725,000
957 Willow St, Kelso, WA 98626
Each residence includes a fenced backyard, garage, and extended driveway parking.
Property Size2,988 SF
Price / SF$242.64
Days on Market10
Property Features for 957 Willow St
General Information
Standard status
Active
Size
2,988 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Amenities
garage
fully fenced \u0026 usable backyards
Building Details
Year Built
2023
Listing Agency:
Real Broker LLC
Listed By:
Daniel Belza · License #132688
(360) 953-9933
Source:
Searchhomesinbellingham
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 8:42PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residences measuring 1,494 square feet each. Both units offer three bedrooms, 2.5 bathrooms, quartz countertops, stainless steel appliances, walk-in closets, walk-in showers, and heat pumps with mini-split heating and cooling systems. Fully fenced backyards, garages, and extended driveways provide private outdoor space and parking for residents and guests.
The property is currently leased and provides convenient access to I-5, grocery stores, shopping, dining, schools, a nearby golf course, and other everyday amenities. The 2,988-square-foot configuration offers a modern two-unit layout with separate residential spaces and practical features suited to multifamily ownership.
The property is currently leased and provides convenient access to I-5, grocery stores, shopping, dining, schools, a nearby golf course, and other everyday amenities. The 2,988-square-foot configuration offers a modern two-unit layout with separate residential spaces and practical features suited to multifamily ownership.
Key Highlights
- Two‑unit property totaling 2,988 SF, with 1,494 SF per residence
- Built in 2023 with modern finishes and systems
- Each unit includes 3 bedrooms and 2.5 bathrooms
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
$34,392
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
4.74%
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%
$687,840
$687.8K
Cap Rate 7%
$491,314
$491.3K
Cap Rate 9%
$382,133
$382.1K
Market Conditions
NOI Build-Up for 2,988 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
$52.0K $17.40/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$49.1K $16.44/SF
− OpEx
−$14.7K −$4.93/SF
NOI
$34.4K $11.51/SF
Area
Cowlitz County, WA
Vacancy
5.50%
Lease Rate
$17.40 /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%
$687,840
Cap Rate 7%
$491,314
Cap Rate 9%
$382,133
Alternative Uses
Best Use
Multifamily LT 5
$491.3K
$429.9K – $573.2K
NOI $34,392 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$451.2K
$394.8K – $526.4K
NOI $31,581 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$984.5K
$861.4K – $1.15M
NOI $68,912 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 98626, WA
26,291
Population
10,642
Households
2.5
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
134.6 sq mi
ZIP Area
195
Density / Sq Mi
$70,058
Median Household Income
$40,996
Median Earnings
$1,169
Median Rent
$339,800
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 - Each residence includes a fenced backyard, garage, and extended driveway parking.
Where is this duplex located?
The property is located at 957 Willow St Kelso, WA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit property totaling 2,988 SF, with 1,494 SF per residence; Built in 2023 with modern finishes and systems; Each unit includes 3 bedrooms and 2.5 bathrooms
