Property Details
1903 W 31st Street
Vancouver, WA 98660
$530,000
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Property Overview
Investor Alert! Fully Rented Duplex | 3 Bed Units | Tenants Pay All Utilities | Strong Cash Flow | Updated | Prime Vancouver Location Turnkey duplex offering two spacious units, K and L, each with 3 bedrooms, 1.1 baths, and ~1,100 sq ft—an ideal layout for long-term tenant retention or owner-occupant flexibility. Starting May 1, 2026, rents total $3,403/month with a normalized NOI of ~$2,849/month, delivering strong, low-maintenance cash flow. Major updates are already complete, including new roof (2018), updated paint, flooring, and water heaters (2017), plus brand new windows and sliding doors (April 2025)—minimizing near-term capital expenses and enhancing tenant appeal. Built-in upside with rent growth already in motion: Unit L increase takes effect May 2026, while Unit K lease expires 6/30/26 and rolls month-to-month, giving flexibility to adjust rents or owner-occupy. Located minutes from downtown, shopping, dining, and major commuter routes, this property sits in a high-demand rental area supporting strong occupancy and long-term appreciation. Live in one side and offset your mortgage, hold as a cash-flowing asset, or reposition for increased returns—multiple paths to win with this investment. *ASK ABOUT OUR PREFERRED LENDER INCENTIVES
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Clark
Neighborhood
Fruit Valley
Listed
Apr 21, 2026
Original Price
$545,000
Financial Summary
Cap Rate
6.40%
Net Operating Income
$35,073
Gross Scheduled Income
$40,836
Gross Rent Multiplier
13.34
Total Expenses
$5,763
Building & Use
Building Sq Ft
2,200
Leasable Area
2,200 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
5,227 sqft
Year Built
1971
Exterior & Lot
Lot Size
0.12 sqft
Year Built
1971
Garage
2 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Cul-De-Sac, Paved
Exterior Features
Wood Products
Location
City
Vancouver
County
Clark
Coordinates
45.64351, -122.69087
Additional Information
Tax Year
2025
Annual Taxes
$4,959
Possession
Array
Based on information submitted to the MLS GRID as of May 7, 2026 5:00 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
