Spokane Valley Duplex For
3921 S Johnson St Spokane Valley, WA 99206
For Sale
$565,000
MULTI_FAMILY - Spokane Valley, WA
Property Size3,170 SF
Lot Size0.28 Acres
Price / SF$178.23
Days on Market20
Property Features for 3921 S Johnson St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Rooms
Bedroom 3, Basement, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 2
Parking features
Driveway, Underground/Basement
Window features
Vinyl Frames
Patio and Porch features
Deck
Fireplace
1
Basement
Full, Daylight, Finished
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Microwave
Standard status
Active
APN
45332.2905
Size
3,170 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
5947
Utilities
Heating system
Ductless (Heating), Electric (Heating), Baseboard
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Building materials
Masonite, Wood Siding
Roof type
Composition
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Riley Price · License #128051
(855) 450-0442
Added: Jul 9
Changed: Jul 17
Last Checked: Jul 28 at 8:06AM
MLS# 202620757
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 well-maintained duplex offers two separate units on a corner lot with ample parking. The owner-occupied unit includes 3 bedrooms, 2 full bathrooms, a pellet fireplace, an attached garage, and a private back deck. The second unit is tenant-occupied and includes two recently updated bathrooms.
The property is located in Spokane Valley, Washington. Public remarks note attractive curb appeal and pride of ownership throughout the duplex.
With its dual-unit setup and in-place income from the tenant-occupied unit, the property provides an owner-occupant option alongside a residential income component.
The property is located in Spokane Valley, Washington. Public remarks note attractive curb appeal and pride of ownership throughout the duplex.
With its dual-unit setup and in-place income from the tenant-occupied unit, the property provides an owner-occupant option alongside a residential income component.
Key Highlights
- Duplex built in 1978 with two units, including a tenant‑occupied unit for immediate rental income.
- Owner‑occupied unit offers 3 bedrooms and 2 full bathrooms, plus a pellet fireplace and private back deck.
- Second unit includes two recently updated bathrooms and is currently occupied by a reliable tenant.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.8k | $13.20 |
| − Vacancy | −$2.6k | −$0.81 |
| EGI | $39.3k | $12.39 |
| − OpEx | −$11.8k | −$3.72 |
| NOI | $27.5k | $8.67 |
3,170 SF · lease $13.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$392.6K
$343.6K – $458.1K
NOI $27,484 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.9K
NOI $25,431 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$688.6K
$602.6K – $803.4K
NOI $48,204 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex on a corner lot with ample parking and two units, one tenant-occupied.
Where is this duplex located?
The property is located at 3921 S Johnson St Spokane Valley, WA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Duplex built in 1978 with two units, including a tenant‑occupied unit for immediate rental income.; Owner‑occupied unit offers 3 bedrooms and 2 full bathrooms, plus a pellet fireplace and private back deck.; Second unit includes two recently updated bathrooms and is currently occupied by a reliable tenant.
