2–4 Unit Multi-Family Financing in Bonney Lake, WA

2–4 Unit Multi-Family investing in Bonney Lake

A 2–4 unit property in Bonney Lake is still residential financing — it is underwritten on the 1025 Small Residential Income Property appraisal rather than a commercial rent roll, so you keep 30-year fixed terms while spreading vacancy risk across multiple doors. Losing one tenant in a duplex costs you roughly half your income instead of all of it.

At the Bonney Lake median of $600,000, a 2–4 unit multi-family prices near $948,000 for a typical duplex — small multifamily trades at a premium per building but a discount per door. Minimum down is 25% ($237,000), leaving a loan of $711,000. Estimated all-in PITIA runs about $6,090 per month.

Returns and structure

Return metrics at the Bonney Lake median for this product: an estimated cap rate of 4.12%, and monthly cash flow of $835 negative at 25% down. Negative cash flow at the minimum down payment is common in appreciation-led markets; investors close the gap with a larger down payment, a purchase below median, an added unit, or a rate buydown.