Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2659 N Walnut St Spokane, WA 99205

    Sponsored
    For Sale
    $299,000

    MULTI_FAMILY - Craftsman - Spokane, WA

    Property size:
    1,382 SF
    Lot size:
    0.14 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 19 at 11:06 pm

    Property Features for 2659 N Walnut St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 2, Laundry Room, Bedroom 1, Bedroom 3, Bathroom 2, Utility Room, Bathroom 1
    Bedrooms
    3
    APN
    25121.3001
    Parking features
    Offsite, Oversize
    Patio and Porch features
    Deck, Patio
    Interior features
    Pantry, Natural Woodwork, Windows Vinyl, Multi Pn Wn, In-Law Floorplan
    Basement
    Unfinished, Partial
    Appliances
    Free-Standing Range, Refrigerator
    Size
    1,382 SF
    Lot size
    0.14 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1907
    Floors in Building
    2
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Composition
    Architectural style
    Craftsman

    We can help!

    Listing Contact
    Patrick Kendrick
    Patrick Kendrick

    Real Broker, LLC (855) 450-0442

    Listing agent Patrick Kendrick (509) 991-2470

    Listing date Feb 19, 2026

    MLS# 202611002 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Turn Key Spokane Duplex

    This turn-key duplex, located in a central location, presents an opportunity for conversion to a single-family home. The main floor operates as a furnished Airbnb, featuring a bright, open living room, two large bedrooms, an eat-in kitchen, storage space, a laundry/mud room, and a tiled bathroom. A freshly painted front porch enhances the guest experience. The upper unit includes one bedroom, one bathroom, and a bonus mud/laundry room. Updates to the property feature vinyl windows throughout and two newer water heaters. Situated on a clean, fenced corner lot, the property includes a gravel parking area and a shed, with potential for further development. The lot size is 0.14 acres and the property size is 1382 square feet. Potential uses include multifamily property, residential income property, and short term rental property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.434448
    Latitude
    47.682472

    Nearby Similar for Sale

    • New
      $590,000
      4,950 SF

      Updated Triplex Near Gonzaga

      Updated triplex near Gonzaga University with high rental income.
      1117 E Illinois Ave, Spokane, WA 99207
      View Details
    • New
      $519,000
      Pending

      South Hill Triplex on Large Lot

      Well-maintained triplex with development potential in Spokane's South Hill.
      1611 W 9Th Ave, Spokane, WA 99223
      View Details
    • New
      $725,000
      3,174 SF

      Spokane Triplex Investment Opportunity

      Triplex in Spokane's South Hill neighborhood, ideal for investors.
      3415 S Grand Blvd, Spokane, WA 99203
      View Details
    • $675,000
      Pending

      Spokane Mixed-Use Commercial Landmark

      Historic mixed-use property with income potential in Spokane, Washington.
      5634 E Commerce Ave, Spokane, WA 99207
      View Details
    • $350,000
      0.47 Acres

      Versatile Commercial Property in Spokane

      Industrial Mixed Use property with shop, house, and detached garage.
      10807 E Trent Ave, Spokane, WA 99206
      View Details
    • New
      $425,000
      3,130 SF

      South Hill Spokane Duplex

      Charming 1908 duplex with investment potential in desirable location.
      511 W 14Th Ave, Spokane, WA 99204
      View Details
    • New
      $675,000
      Pending

      Spokane Landmark Apartment Building

      Unique apartment building with expansion potential in Spokane, Washington.
      5634 E Commerce Ave, Spokane, WA 99207
      View Details
    • New
      $350,000
      2,624 SF

      Spokane Triplex with Updated Systems

      Centrally located triplex featuring updated systems and classic architectural details.
      1027 W Maxwell Ave, Spokane, WA 99201
      View Details
    • New
      $569,000
      0.11 Acres

      New Construction Duplex in Spokane

      New construction duplex with modern layout near Perry District.
      2324 E 7Th Ave, Spokane, WA 99202
      View Details
    • $990,000
      8,020 SF

      Spokane Commercial Property For Sale

      Commercial property with showroom and easy freeway access in Spokane.
      3626 E Trent Ave, Spokane, WA 99202
      View Details
    • $700,000
      16,063 SF

      South Hill Adult Family Home

      Well-established, income-producing adult family home in a peaceful Spokane neighborhood.
      4414 S Helena St, Spokane, WA 99223
      View Details
    • New
      $329,000
      1,828 SF

      Spokane Duplex Near Kendall Yards

      Duplex near Kendall Yards with updated systems and separate meters.
      2507 W Gardner Ave, Spokane, WA 99201
      View Details

    FAQs

    What type of property is this?
    Duplex - Centrally located duplex, potential single family conversion, generating cash flow.
    Where is this duplex located?
    The property is located at 2659 N Walnut St Spokane, WA.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Turn-key duplex with potential to convert to a single-family home.; - Main floor is a working, fully furnished Airbnb with positive cash flow.; - Central location eligible for up to $5k in lender-paid closing costs (WA Trust Bank).
    (509) 991-2470
    Request Owner's contact information
    2659 N Walnut St Spokane, WA 99205
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2659 N Walnut St
    Spokane, WA 99205
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2659 N Walnut St Spokane, WA 99205
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Patrick Kendrick
    Patrick Kendrick
    (509) 991-2470 (509) 458-4000 (855) 450-0442
    Learn more
    Google sign-in failed. Please try again or use another login method.