Score
0Vancouver, WA
1901 Norris Rd
480K
5 beds
2 baths
1,550 sqft
5 bd • 2 ba • 1,550 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$480,000
Price/Sq.Ft
$310
Year Built
1976
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This duplex property offers strong investment potential with its prime location near Clark College. At $309.68/sqft, it's priced 15% below the Vancouver average of $365/sqft for multi-family properties. The 5-bedroom, 2-bathroom layout across two units (3BR and 2BR) provides flexibility for various tenant needs. Current month-to-month leases allow for potential rent increases to match market rates. The property includes valuable features like attached and detached garages, extra parking, and a fenced backyard. Its minimal flood (1/10) and fire (1/10) risk scores are significantly better than area averages, potentially leading to lower insurance costs.
The Bad
The property's age (built 1976) suggests potential for increased maintenance costs. With 297 days on market, it's significantly above the Vancouver average of 45 days, indicating possible overpricing or underlying issues. The lack of central air conditioning (only radiant heating mentioned) could be a drawback for tenants, especially given the area's moderate heat risk (3/10). The property has undergone multiple price reductions, dropping from $560,000 to $480,000 (-14.3%) over 8 months, which may indicate challenges in valuation or condition.
The Ugly
The extreme air quality risk (10/10) with 20 bad air days per year is a significant concern, potentially affecting tenant health and satisfaction. This could lead to higher turnover rates or difficulty attracting long-term tenants. The property's appreciation has been volatile, with a 36.6% increase from 2021 to 2024, followed by multiple price reductions, suggesting market instability or potential overvaluation. Total monthly ownership costs are high, estimated at $4,000+ ($2,500 mortgage + $500 taxes + $150 insurance + $850 maintenance/vacancy reserve), which could strain cash flow for investors.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for experienced real estate investors with a household income above $150,000 (based on a 33% DTI ratio). It's ideal for those looking to build a rental portfolio in a growing college town market. The duplex structure appeals to investors seeking multiple income streams from a single property. The location near Clark College makes it attractive for student housing, potentially allowing for higher-than-average rents during the academic year.
Not For
Not suitable for first-time homebuyers or those seeking a primary residence. The high monthly costs ($4,000+) and potential for increased maintenance make it impractical for owner-occupants. Not ideal for passive investors seeking turnkey properties due to the age and potential upcoming maintenance needs. The extreme air quality risk makes it unsuitable for investors prioritizing properties in areas with excellent environmental conditions.
Demographics
Area Median Income
$61,579
Property History
Price History
Ownership Timeline
$400,000Financed
Jan 13, 2021Alexander StaniselMark Wright, Yihong Fei Wright
Warranty Deed
Standard Sale (Purchase/Resales)
$300,000Financed
Apr 17, 2019Yvonne GreenAlexander Stanisel
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Apr 4, 2019Giorgiana StaniselAlex Stanisel
Intrafamily Transfer
Non-Arm's Length Transactions
$349,900Financed
Sep 28, 2005Malcolm J Nozoe, Neal G NozoeLeonard C Green, Yvonne Green
Warranty Deed
Standard Sale (Purchase/Resales)
Property Taxes
$3,907
2023 Tax Assessment
13.4%from previous year
Assessed Value$417,559
Tax Rate0.94%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
3.0/10
Below AverageMiddle
1.0/10
Below AverageHigh
2.0/10
Below AverageFinancials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow$1,500
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$480,000
Price/sqft
$310
Layout
5 bd•2 ba
Days on market
296 daysat time of analysis
Stats in the Area
Based on 5 comparable properties nearby
Average Price
$354,400
35.4%
Your price is 35.4% above average
Median Price
$380,000
26.3%
Based on 5 recent sales
Price per Sq.Ft
$257
20.5%
Your price is 20.5% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1604 CELLARS AVE, Vancouver, WA 98661 | $380,000 | 1,620 | N/A | N/A | $23524.3% | 10/11/2024 |
| 1600 CELLARS AVE, Vancouver, WA 98661 | $380,000 | 1,680 | N/A | N/A | $22627.0% | 10/11/2024 |
| 2415 E 20TH ST, Vancouver, WA 98661 | $510,000 | 1,640 | N/A | N/A | $3110.4% | 8/22/2024 |
| 4006 E 13th Street, Vancouver, WA 98661 | $251,000 | N/A | N/A | N/A | N/A | 9/7/2024 |
| 4006 E 13TH ST, Vancouver, WA 98661 | $251,000 | N/A | N/A | N/A | N/A | 9/7/2024 |
1604 CELLARS AVE, Vancouver, WA 98661
Price: $380,000
Sq.Ft: 1,620
Beds/Baths: N/A/N/A
$/Sq.Ft:
$23524.3%
Sale Date: 10/11/2024
1600 CELLARS AVE, Vancouver, WA 98661
Price: $380,000
Sq.Ft: 1,680
Beds/Baths: N/A/N/A
$/Sq.Ft:
$22627.0%
Sale Date: 10/11/2024
2415 E 20TH ST, Vancouver, WA 98661
Price: $510,000
Sq.Ft: 1,640
Beds/Baths: N/A/N/A
$/Sq.Ft:
$3110.4%
Sale Date: 8/22/2024
4006 E 13th Street, Vancouver, WA 98661
Price: $251,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/7/2024
4006 E 13TH ST, Vancouver, WA 98661
Price: $251,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/7/2024
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