Duplex with Shop and
New
For Sale
$749,900
19019 E 4th Ave, Spokane, WA 99016
Residential Income, Spokane, WA
Property Size3,998 SF
Lot Size0.57 Acres
Price / SF$187.57
Days on Market2
Property Features for 19019 E 4th Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bathroom 2, Laundry Room, Basement, Utility Room, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 6
Parking features
Open
Window features
Vinyl Frames
Patio and Porch features
Deck
Interior features
Hot Water, In-Law Floorplan
Basement
Full, Finished, Partially Finished
Appliances
Water Softener, Free-Standing Range, Dishwasher, Refrigerator, Microwave, Washer, Dryer
Lot features
Views, Fenced Yard, Sprinkler - Automatic, Level, Secluded, Oversized Lot
Elementary school
Liberty Lake
Middle school
Greenacres
High school
Ridgeline
Elementary school district
Central Valley
Directions
South on Barker, left on 4th Ave.
Standard status
Active
APN
55202.0181
Size
3,998 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
6378
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
pool
Building Details
Year built
2001
Floors in Building
1
Number of units
2
Building materials
Masonite, Siding
Roof type
Composition
Architectural style
Ranch
Additional Structures
Workshop
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Craig Hudkins
(509) 458-4000
Added: Sep 1
Last Checked: Sep 2 at 1:06PM
MLS# 202623575
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.
Built in 2001, this ranch-style duplex contains 3,998 square feet on a 0.57-acre parcel. Each three-bedroom, three-bath unit includes an attached two-car garage, living room fireplace, dining area, kitchen with eat-up bar, upstairs laundry, deck, and fenced backyard with sprinklers. Finished lower levels add gathering space, an egress-window bedroom, bonus room, bathroom, and storage; one unit also has an ensuite.
The property includes a 30-by-50-foot shop with 11.5-foot doors and an in-ground pool. Natural-gas forced-air heat, central air, a composition roof, and a range of included appliances support the existing improvements. The address is near Central Valley schools, freeway access, shopping, Liberty Lake, and hiking and biking trails.
The property includes a 30-by-50-foot shop with 11.5-foot doors and an in-ground pool. Natural-gas forced-air heat, central air, a composition roof, and a range of included appliances support the existing improvements. The address is near Central Valley schools, freeway access, shopping, Liberty Lake, and hiking and biking trails.
Key Highlights
- 3,998‑square‑foot duplex with two three‑bedroom, three‑bath units
- Each unit includes an attached two‑car garage, deck, fenced backyard, and finished lower level
- 30‑by‑50‑foot shop with 11.5‑foot doors
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
$45,735
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
6.10%
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%
$914,700
$914.7K
Cap Rate 7%
$653,357
$653.4K
Cap Rate 9%
$508,167
$508.2K
Market Conditions
NOI Build-Up for 3,998 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
$69.6K $17.40/SF
− Vacancy
−$4.2K −$1.06/SF
EGI
$65.3K $16.34/SF
− OpEx
−$19.6K −$4.90/SF
NOI
$45.7K $11.44/SF
Area
Spokane, WA
Vacancy
6.08%
Lease Rate
$17.40 /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%
$914,700
Cap Rate 7%
$653,357
Cap Rate 9%
$508,167
Alternative Uses
Best Use
Multifamily LT 5
$653.4K
$571.7K – $762.3K
NOI $45,735 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$568.1K
$497.1K – $662.7K
NOI $39,764 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.03M
$902.6K – $1.20M
NOI $72,204 @ 7.0% cap · market cap 9.63%
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
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 99016, WA
18,496
Population
8,004
Households
2.3
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
24.6 sq mi
ZIP Area
752
Density / Sq Mi
$94,253
Median Household Income
$56,661
Median Earnings
$1,715
Median Rent
$450,000
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 three-bedroom residences feature attached garages, finished lower levels, decks, and fenced outdoor space.
Where is this duplex located?
The property is located at 19019 E 4th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3,998‑square‑foot duplex with two three‑bedroom, three‑bath units; Each unit includes an attached two‑car garage, deck, fenced backyard, and finished lower level; 30‑by‑50‑foot shop with 11.5‑foot doors
