416 & 420 2nd St SE, Auburn, WA 98002
- $539,000
- 1,650
- SqFt
Listing courtesy of HomeSmart Real Estate Assoc. Selling Office: John L. Scott, Inc..
- Sold Price
- $539,000
- List Price
- $585,000
- Status
- SOLD
- MLS#
- 2318437
- Closing Date
- Mar 17, 2025
- Days on Market
- 35
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 1,650
- Area Total SqFt
- 1650
- Annual Tax Ammount
- 5360.43
- Lot Size (sq ft)
- 5,705
- Sewer
- Sewer Connected
Property Description
Rare investment opportunity awaits to purchase a quality, income producing duplex in the heart of downtown Auburn. Each rambler style unit on this prime corner lot offers two good sized bedrooms, one full bathroom, spacious living space and is equipped with a washer and dryer. Good sized carport offers covered parking as well as a storage closet. Conveniently located near freeways, shopping, restaurants, schools, public transit if needed (or walk downtown) and so much more. Roof was replaced recently as well as carpet in each unit. Great opportunity for investors seeking consistent rental income, potential future house hacking, or multigenerational living. Potential for 6%+ cap rate in future if rent is market value.
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Additional Information
- List Date
- 2025-02-10 00:00:00
- Community
- Downtown - Auburn
- Net Operating Income
- $27,823
- Gross Scheduled Income
- $34,800
- Total Monthly Income
- $2,900
- Insurance Expenses
- $1,617
- Gross Rent Multiplier
- 16.81
- Total Expenses
- $6,977
- Cap Rate
- 4.75
- Total Number of Units
- 2
- Unit Name
- 416
- Potential Terms
- Cash Out, Conventional, FHA, VA Loan
- Year Built
- 1958
- Roof
- Composition
- Site Features
- Fenced-Partially, Gas Available
- Energy Source
- Electric, Natural Gas, Wood
- School District
- Auburn
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $2,900
- Gross Scheduled Income
- $34,800
- Tax Year
- 2024
- Insurance Expense
- $1,617
- Total Expenses
- $6,977
- Net Operating Income
- $27,823
- Gross Rent Multiplier
- 16.81
- Cap Rate
- 4.75
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.