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    316 N Silver Lake Ave Medical Lake, WA 99022

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    For Sale
    $385,000

    MULTI_FAMILY - Medical Lake, WA

    Property size:
    2,240 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $171/SF
    Added:
    May 8, 2026
    Days on Market:
    1
    Last Refresh:
    May 8 at 4:06 pm

    Property Features for 316 N Silver Lake Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 3
    Parking features
    Offsite
    Window features
    Vinyl Frames
    Interior features
    Hot Water
    Basement
    Crawl Space
    Appliances
    Free-Standing Range, Dishwasher, Refrigerator
    Standard status
    Active
    Size
    2,240 SF
    Lot size
    0.29 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas, Electric (Heating)

    Building Details

    Year built
    1971
    Floors in Building
    2
    Number of units
    2
    Building materials
    Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Wendy Armes

    Listing agent Wendy Armes

    Listing office eXp Realty, LLC 601 W 1st Ave Ste 1400, Seattle, WA

    Listing date May 8, 2026

    MLS# 202617019 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.

    HighLights

    • Strong investment opportunity with consistent rental demand.
    • Each unit has a spacious 3‑bedroom, 1‑bath floor plan (approx. 1,120 sq ft).
    • Conveniently located near Spokane International Airport, Eastern Washington University, Fairchild Air Force Base, and Amazon facilities.
    • Off‑street parking available for tenants.
    • Proximity to outdoor recreation: lakes, hiking, boating, and fishing.
    • Low‑maintenance living.

    Overview

    Medical Lake Duplex Investment Opportunity

    This duplex, located in the growing community of Medical Lake, Washington, offers a strong investment opportunity with a proven track record of consistent rental demand. Each unit features a spacious 3-bedroom, 1-bath floor plan with approximately 1,120 square feet of comfortable living space. The property also includes convenient off-street parking for tenants. Situated on a 0.29-acre lot, the property provides simple, low-maintenance living with easy access to the Spokane area. Its location is just minutes from Spokane International Airport, Eastern Washington University, Fairchild Air Force Base, Amazon facilities, and downtown Spokane. Outdoor enthusiasts will appreciate the close proximity to the West Plains' scenic lakes, hiking trails, boating, fishing, and year-round recreation. A short drive brings residents to Spokane's dining and entertainment scene.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Hair Salon Food Market Grocery & Convenience Store Furniture & Home Goods Grocery & Convenience Store Cafe & Coffee Shop Wine and Liquor Store Daycare Center Acupuncture

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

    Location Insight

    • Map
    • Local Demand
    City
    Medical Lake
    County
    Spokane
    State
    Washington
    Longitude
    -117.705
    Latitude
    47.6094

    FAQs

    What type of property is this?
    Duplex - Well-positioned duplex in Medical Lake with consistent rental demand.
    Where is this duplex located?
    The property is located at 316 N Silver Lake Ave Medical Lake, WA.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: Strong investment opportunity with consistent rental demand.; Each unit has a spacious 3‑bedroom, 1‑bath floor plan (approx. 1,120 sq ft).; Conveniently located near Spokane International Airport, Eastern Washington University, Fairchild Air Force Base, and Amazon facilities.
    (360) 339-5093
    We can help!
    Listing Contact
    Wendy Armes
    Learn More
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    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
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