Renovated Two-Unit Ranch
5005 N EVERGREEN Rd Spokane, WA 99216
5005 N EVERGREEN Rd, Spokane, WA, 99216
$425,000
Pending
For Sale
$425,000
Pending
MULTI_FAMILY - Ranch - Spokane, WA
Property Size1,710 SF
Lot Size0.47 Acres
Days on Market48
Property Features for 5005 N EVERGREEN Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Laundry Room, Utility Room, Bedroom 1
- Parking
- 4
- Parking features
- RV, Offsite
- Window features
- Vinyl Frames
- Patio and Porch features
- Patio
- Interior features
- Hot Water, High Speed Internet
- Basement
- Crawl Space
- Appliances
- Free-Standing Range, Dishwasher, Refrigerator, Hard Surface Counters
- Standard status
- Pending
- APN
- 46344.0706
- Size
- 1,710 SF
- Lot size
- 0.47 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3777
Utilities
- Heating system
- Ductless (Heating)
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1942
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Brick Veneer, Vinyl Siding, Wood Siding
- Roof type
- Composition
- Architectural style
- Ranch
Listing agency
Kelly Right Real Estate of Spokane
(509) 489-7000
Listed by
James Cote
(509) 489-7000
Added: Jun 5 Updated: Jun 10 at 12:52AM Checked: Jul 22 at 6:06PM
MLS# 202618769
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 property is a ranch-style, two-unit duplex configured with two separate 2-bedroom, 1-bath residences. Both units were renovated in 2020 and include quartz countertops, undermount sinks, and appliances. Each unit also has washer and dryer hookups, a garage, and a fenced backyard, along with separate utilities to support individual tenant billing and convenience.
The home sits on a nearly half-acre lot in Spokane, Washington. The layout includes additional land toward the back of the property, where the seller has been renting RV or trailer parking for $50 per month. Buyer should verify any future development or additional improvements since the remarks note potential for building an additional home or shop, subject to confirmation.
For tenants or owner-occupants, the duplex offers straightforward, unit-by-unit setup with separate utilities and in-unit laundry hookups. For investors, the property is currently fully rented, with Unit #1 scheduled to vacate on June 30, 2026, creating flexibility for a future move-in or repositioning plan. Gross rental income is reported as $2,790 per month, and tenants pay their own sewer/garbage as well as power and gas.
The home sits on a nearly half-acre lot in Spokane, Washington. The layout includes additional land toward the back of the property, where the seller has been renting RV or trailer parking for $50 per month. Buyer should verify any future development or additional improvements since the remarks note potential for building an additional home or shop, subject to confirmation.
For tenants or owner-occupants, the duplex offers straightforward, unit-by-unit setup with separate utilities and in-unit laundry hookups. For investors, the property is currently fully rented, with Unit #1 scheduled to vacate on June 30, 2026, creating flexibility for a future move-in or repositioning plan. Gross rental income is reported as $2,790 per month, and tenants pay their own sewer/garbage as well as power and gas.
Key Highlights
- Ranch‑style multi‑family on nearly half an acre; includes two 2‑bedroom, 1‑bath units
- Both units renovated in 2020 with quartz countertops, undermount sinks, and appliances
- Each unit has washer/dryer hookups, garage, fenced backyard, and separate utilities; both units are currently rented
Local 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 | $29.8k | $17.40 |
| − Vacancy | −$1.8k | −$1.06 |
| EGI | $27.9k | $16.34 |
| − OpEx | −$8.4k | −$4.90 |
| NOI | $19.6k | $11.44 |
1,710 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$279.4K
$244.5K – $326.0K
NOI $19,561 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$243.0K
$212.6K – $283.5K
NOI $17,008 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$441.2K
$386.0K – $514.7K
NOI $30,883 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two renovated 2-bedroom units with separate utilities and garages, with add-on space on a nearly half-acre lot.
Where is this duplex located?
The property is located at 5005 N EVERGREEN Rd Spokane, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Ranch‑style multi‑family on nearly half an acre; includes two 2‑bedroom, 1‑bath units; Both units renovated in 2020 with quartz countertops, undermount sinks, and appliances; Each unit has washer/dryer hookups, garage, fenced backyard, and separate utilities; both units are currently rented
