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    418 Pioneer Ave Montesano, WA 98563

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    For Sale
    Contact for pricing

    Prime location, two-unit rental property.

    Property size:
    2,362 SF

    Property Features for 418 Pioneer Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,362 SF

    Building Details

    Year Built
    1891
    Buildings
    1
    Stories
    2
    Units
    2

    We can help!

    Listing Contact
    Tracey Wagoner
    Tracey Wagoner

    Listing Agency: Aberdeen Realty Inc Listing Agent: Tracey Wagoner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This charming Montesano duplex, located at 418 Pioneer Ave E, presents a compelling investment opportunity. The property boasts a total of 2,362 square feet across two units situated on a 6,000 square foot lot. Built in 1891, this two-story building offers a blend of character and potential. The main unit, spanning 1,392 square feet according to county records, features two bedrooms, one full bath, and an eat-in kitchen with washer/dryer hookups. The upper unit, at 970 square feet, includes one bedroom, a 3/4 bath, high ceilings, and a spacious living room with an eat-in kitchen. Off-street parking is conveniently accessible from the rear alley. Currently, rents are below market value, with potential for significant increases. The main unit could command approximately $1400 per month, and the upper unit around $1000, representing substantial upside. The property's prime location places it within walking distance of shopping, the post office, a pharmacy, and a bus station, making it highly attractive to renters. This property is ideal for an owner-occupant seeking to live in one unit while generating rental income from the other. The property's proximity to schools further enhances its appeal. A modest refresh would significantly enhance the property's value and rental income. The asking price is $389,900, with a net operating income (NOI) of $11,311 and a cap rate of 2.90%. The property's APN is 076100800900. This is a rare opportunity to acquire a well-situated duplex in a desirable area with significant rental upside.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Montesano
    County
    Grays Harbor
    State
    Washington
    Longitude
    -123.59626544308
    Latitude
    46.979552855592

    Nearby Similar for Sale

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    • $675,000

      Versatile Portfolio on Large Lot

      Eight units across four buildings on a large lot.
      116 S Chehalis St, Montesano, WA 98563
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime location, two-unit rental property.
    Where is this multifamily property located?
    The property is located at 418 Pioneer Ave Montesano, WA.
    What is the asking price?
    The asking price for this property is $389,900.
    What are key features of this property?
    This property features: $389,900 asking price for a two-unit multifamily property.; Located at 418 Pioneer Ave E, Montesano, WA 98563.; Features 2,362 square feet of net rentable space, with units sized at 1392 and 970 square feet respectively.
    (360) 533-7100 Call to check price and availability
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    418 Pioneer Ave Montesano, WA 98563
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    Montesano, WA 98563
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    418 Pioneer Ave Montesano, WA 98563
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tracey Wagoner
    Tracey Wagoner
    Real Estate License ID: 128419
    (360) 533-7100
    Learn more
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