Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spokane Duplex: Investor Special Title is generated by Realmo AI

    923 E Everett Ave, Spokane, WA 99212

    View on Map
    Claim this Listing
    For Sale
    $599,000

    MULTI_FAMILY - Contemporary - Spokane, WA

    Property size:
    2,948 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $203/SF
    Added:
    Feb 21, 2026
    Days on Market:
    96
    Last Refresh:
    May 28 at 3:06 am

    Property Features for 923 E Everett Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bedroom 6, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 1, Bathroom 2, Bathroom 6, Bathroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 5
    Parking features
    Alley, Offsite, Open
    Interior features
    Smart Thermostat, Pantry, Windows Vinyl
    Appliances
    Free-Standing Range, Dishwasher, Refrigerator, Microwave, Hard Surface Counters
    Standard status
    Active
    APN
    36324.2327
    Size
    2,948 SF
    Lot size
    0.11 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air, Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2025
    Floors in Building
    2
    Number of units
    2
    Building materials
    Masonite, Siding, Shake Siding
    Roof type
    Composition
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Leslie Plaksin

    Listing agent Leslie Plaksin License #20117447

    Listing office Kelly Right Real Estate of Spokane 140 S ARTHUR ST STE 600, Spokane, WA

    Listing date Feb 21, 2026

    MLS# 202612471 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

    • Turnkey duplex investment property: Two new homes for one price, offering immediate rental income potential.
    • Excellent location: Convenient access to public transportation and close proximity to Gonzaga University, Downtown Spokane, hospitals, Spokane Airport, and Northtown Mall.
    • Spacious and modern units: Each side features 3 bedrooms, 2.5 baths, laundry area, and a one‑car garage, with open‑concept living spaces and contemporary finishes.
    • Low‑maintenance new construction: Built in 2025 with durable materials and modern insulation, minimizing upkeep and maximizing long‑term value.
    • Strong rental potential: Suitable for both long‑term rentals and short‑term Airbnb, offering flexibility for investors.
    • Modern amenities: Includes stainless steel appliances, smart thermostat, and vinyl windows.

    Overview

    This two-story duplex in Spokane, WA, presents a turnkey investment opportunity with potential for both long-term and short-term (Airbnb) rentals. The property, situated on a 0.11-acre lot, features two identical units, each offering 1,474 square feet of living space. Each side includes 3 bedrooms, 2.5 baths, a laundry area, and an attached one-car garage with separate driveways. The main level of each unit features an open-concept kitchen and living space equipped with stainless steel appliances, contemporary finishes, and durable flooring. The property is located on a bus route, providing convenient access to public transportation and nearby amenities. Its location offers proximity to various destinations, including Gonzaga University (5 minutes), Downtown Spokane (7 minutes), hospitals (10 minutes), Spokane Airport (12 minutes), and Northtown Mall (5 minutes). Grocery stores, restaurants, and freeway access are also within minutes of the property. The total property size is 2,948 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $374.7K
    NOI $33,724 @ 9.00% cap · cautious / downside scenario
    Moderate
    $481.8K
    NOI $33,724 @ 7.00% cap · market / base-case scenario
    Aggressive
    $674.5K
    NOI $33,724 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $51.3k $17.40
    − Vacancy −$3.1k −$1.06
    EGI $48.2k $16.34
    − OpEx −$14.5k −$4.90
    NOI $33.7k $11.44
    2,948 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $481.8K
    $421.6K – $562.1K (±1% cap)
    NOI $33,724 @ 7.0% cap · market cap 5.63%
    Second Best
    Apartment 5plus
    $418.9K
    $366.5K – $488.7K (±1% cap)
    NOI $29,321 @ 7.0% cap · market cap 4.89%
    Theoretical Best
    Office A
    $760.6K
    $665.5K – $887.4K (±1% cap)
    NOI $53,241 @ 7.0% cap · market cap 8.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office 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
    -117.39537
    Latitude
    47.705849

    Nearby Similar for Sale

    • $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
    • $675,000
      13,386 SF

      South Hill Adult Family Home

      Well-established, income-producing adult family home in a peaceful Spokane neighborhood.
      2214 E 36th Ave, Spokane, WA 99203
      View Details
    • $525,000
      4,448 SF

      Spokane Ranch Duplex Investment Opportunity

      Well-maintained duplex in Indian Trail neighborhood with income potential.
      3220 W Francis Ave, Spokane, WA 99205
      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
    • $899,000
      9,000 SF

      Spokane Commercial Flex Space Available

      9,000 SF flex space on 1.88 acres for sale.
      1611 S Geiger Blvd, Spokane, WA 99224
      View Details
    • $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
      3303 E Ferry Ave, Spokane, WA 99202
      View Details
    • $1,790,000
      7,950 SF

      Spokane 10-Unit Apartment Building

      Turn-key investment opportunity: 10-unit apartment near NorthTown Mall.
      6511 N Atlantic St, Spokane, WA 99208
      View Details
    • $225,000
      1,200 SF

      Spokane Garage Lodge Automotive Space

      Automotive space with lift, clubhouse access, near Hwy 2.
      1551 Deer Heights Rd, Spokane, WA 99224
      View Details
    • $365,000
      2,608 SF

      Versatile Church Property on Corner

      Church property with development potential on a large corner lot.
      4315 N Evergreen Rd, Spokane, WA 99216
      View Details
    • $857,300
      3,534 SF

      Modern Duplex in Mead District

      New construction duplex with high-end finishes and spacious layouts.
      12809 N Jaydee Ln, Spokane, WA 99208
      View Details
    • $589,900
      2,776 SF

      South Hill Duplex Investment Opportunity

      Well-maintained duplex in desirable location with long-term leases.
      2716 E 37TH Ave, Spokane, WA 99223
      View Details
    • $599,900
      2,912 SF

      Spokane Fourplex: Investment Opportunity

      Well-maintained fourplex with updated interiors and strong rental income.
      2927 E Olympic Ave, Spokane, WA 99217
      View Details

    FAQs

    What type of property is this?
    Duplex - Two new homes with rental potential in a convenient location.
    Where is this duplex located?
    The property is located at 923 E Everett Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Turnkey duplex investment property: Two new homes for one price, offering immediate rental income potential.; Excellent location: Convenient access to public transportation and close proximity to Gonzaga University, Downtown Spokane, hospitals, Spokane Airport, and Northtown Mall.; Spacious and modern units: Each side features 3 bedrooms, 2.5 baths, laundry area, and a one‑car garage, with open‑concept living spaces and contemporary finishes.
    (509) 489-7000
    We can help!
    Listing Contact
    Leslie Plaksin
    Real Estate License ID: 20117447
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    923 E Everett Ave, Spokane, WA 99212
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!