Two-Story Residential
97 Penny Ln, Kelso, WA 98626
For Sale
$449,900
Pending
Both residences include private garages and fenced backyard space, with occupants covering their own utilities and landscaping.
Property Size3,019 SF
Lot Size0.21 Acres
Days on Market23
Property Features for 97 Penny Ln
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Stories
Listing Agency:
Woodford Commercial RE
Listed By:
Chris Roewe · License WA #23495
(360) 501-5500
Source:
Exprealty
Added: Oct 19
Changed: Nov 7
Last Checked: Nov 10 at 10:37AM
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 Woodford Commercial RE
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Investment Insights
Based on property information with market context.
This duplex contains 3,019 square feet across two two-story residences on a 9,261-square-foot lot. Each unit offers just over 1,509 square feet, with three bedrooms, two bathrooms, an attached one-car garage, and a fenced backyard. Tenants handle water, sewer, garbage, electricity, and landscaping for their respective units.
Key Highlights
- 3,019 SF building on a 9,261 SF lot
- Two‑story units of just over 1,509 SF each
- Each unit has 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,749
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,980
$695.0K
Cap Rate 7%
$496,414
$496.4K
Cap Rate 9%
$386,100
$386.1K
Market Conditions
NOI Build-Up for 3,019 SF
Gross rent
$52.5K $17.40/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$49.6K $16.44/SF
− OpEx
−$14.9K −$4.93/SF
NOI
$34.7K $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 Rate 5%
$694,980
Cap Rate 7%
$496,414
Cap Rate 9%
$386,100
Alternative Uses
Best Use
Multifamily LT 5
$496.4K
$434.4K – $579.2K
NOI $34,749 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$455.8K
$398.9K – $531.8K
NOI $31,909 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$994.7K
$870.3K – $1.16M
NOI $69,627 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private garages and fenced backyard space, with occupants covering their own utilities and landscaping.
Where is this duplex located?
The property is located at 97 Penny Ln Kelso, WA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,019 SF building on a 9,261 SF lot; Two‑story units of just over 1,509 SF each; Each unit has 3 bedrooms and 2 bathrooms
