Brick Ranch Duplex with Fenced
For Sale
$525,000
Pending
10720 & 10722 E SPRINGFIELD Ave, Spokane Valley, WA 99206
Residential Income, Spokane Valley, WA
Property Size3,816 SF
Lot Size0.25 Acres
Days on Market138
Property Features for 10720 & 10722 E SPRINGFIELD Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 5
Parking features
Offsite, Open
Patio and Porch features
Patio
Interior features
Hot Water, High Speed Internet
Fireplace
1
Basement
Full, Finished
Appliances
Free-Standing Range, Refrigerator
Lot features
Fenced Yard, Level, City Bus (w/in 6 blks)
Elementary school
Broadway
Middle school
N. Pines
High school
University
Elementary school district
Spokane Valley
Directions
GPS will get you there
Standard status
Pending
APN
45163.0167
Size
3,816 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
5237
Utilities
Utilities
Cable Available
Heating system
Heat Pump (Heating), Hot Water(Heating), Natural Gas, Forced Air
Amenities
covered patios
fully fenced backyard
hardwood flooring
Building Details
Year built
1962
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Realty One Group Eclipse
(509) 327-2238
Listed By:
Krystle Atkins · License #SP50083
(509) 624-6873
Added: Apr 24
Changed: Sep 5
Last Checked: Sep 8 at 9:06PM
MLS# 202616094
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 3,816 square feet on a 0.25-acre lot and was built in 1962. The ranch-style structure features brick construction, composition roofing, forced-air and heat-pump heating, natural gas, and hot-water systems. Interior amenities include some hardwood flooring, free-standing ranges, refrigerators, hot water, high-speed internet, and fireplaces. Each residence includes a covered patio, while the property also offers a fully fenced backyard and open or offsite parking.
Located in Spokane Valley, the property provides access to schools, shopping, Dishman Hills, and nearby freeway connections. The R zoning designation, two-unit configuration, and residential setting support continued use as a duplex. Cable service is available, and the property includes a combination of bedrooms and bathrooms across both residences.
Located in Spokane Valley, the property provides access to schools, shopping, Dishman Hills, and nearby freeway connections. The R zoning designation, two-unit configuration, and residential setting support continued use as a duplex. Cable service is available, and the property includes a combination of bedrooms and bathrooms across both residences.
Key Highlights
- 3,816 square feet on a 0.25‑acre lot
- Duplex with R zoning in Spokane Valley
- Built in 1962 with brick construction and ranch‑style design
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,084
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$661,680
$661.7K
Cap Rate 7%
$472,629
$472.6K
Cap Rate 9%
$367,600
$367.6K
Market Conditions
NOI Build-Up for 3,816 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.4K $13.20/SF
− Vacancy
−$3.1K −$0.81/SF
EGI
$47.3K $12.39/SF
− OpEx
−$14.2K −$3.72/SF
NOI
$33.1K $8.67/SF
Area
Spokane Valley, WA
Vacancy
6.17%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$661,680
Cap Rate 7%
$472,629
Cap Rate 9%
$367,600
Alternative Uses
Best Use
Multifamily LT 5
$472.6K
$413.6K – $551.4K
NOI $33,084 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$437.3K
$382.7K – $510.2K
NOI $30,613 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$829.0K
$725.4K – $967.1K
NOI $58,028 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 99206, WA
39,842
Population
17,339
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
95%
High-School Grad
23.4 sq mi
ZIP Area
1,703
Density / Sq Mi
$75,538
Median Household Income
$42,018
Median Earnings
$1,174
Median Rent
$362,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with covered patios, fenced outdoor space, and separate living arrangements.
Where is this duplex located?
The property is located at 10720 & 10722 E SPRINGFIELD Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,816 square feet on a 0.25‑acre lot; Duplex with R zoning in Spokane Valley; Built in 1962 with brick construction and ranch‑style design
