Craftsman Rental
For Sale
$275,000
Pending
1011 E Augusta Ave, Spokane, WA 99207
MULTI_FAMILY - Craftsman - Spokane, WA
Property Size1,860 SF
Lot Size0.16 Acres
Days on Market113
Property Features for 1011 E Augusta Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Parking
4
Parking features
Alley
Window features
Vinyl Frames
Interior features
Hot Water
Basement
Unfinished, Partial
Appliances
Free-Standing Range, Refrigerator
Subdivision
Logan
Lot features
Fencing, Fenced Yard, Sprinkler - Automatic, Level
Elementary school
Logan
Middle school
Yasuhara
High school
North Central
Elementary school district
Spokane Dist 81
Directions
North on Hamilton, East on Augusta, home on north side of street.
Standard status
Pending
APN
35084.3313
Size
1,860 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2685
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1904
Floors in Building
2
Number of units
1
Building materials
Wood Siding
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
Keller Williams Spokane - Main · Keller Williams Realty
(509) 458-4000
Listed By:
Bryan Swanson · License #102133
(509) 458-4000
Added: May 6
Changed: Aug 18
Last Checked: Aug 26 at 8:06AM
MLS# 202616856
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 craftsman rental home offers 4 bedrooms and 1 bathroom, with three main-floor bedrooms featuring tall ceilings. Upstairs, the home includes a large fourth bedroom and a secondary family room. The front entry opens to a huge enclosed porch that adds finished space, with interior access to a butler’s pantry leading into the kitchen, which has tile floors.
Outside, the property includes a fenced yard and an inground sprinkler system. Recent updates include a brand-new exterior paint job completed last summer. The home is described as Gonzaga-area rental housing, located just a handful of blocks from GU, and conveniently near grocery stores, restaurants, and coffee shops. The property has been rented to GU students for the past 20 years.
Outside, the property includes a fenced yard and an inground sprinkler system. Recent updates include a brand-new exterior paint job completed last summer. The home is described as Gonzaga-area rental housing, located just a handful of blocks from GU, and conveniently near grocery stores, restaurants, and coffee shops. The property has been rented to GU students for the past 20 years.
Key Highlights
- 4‑bedroom, 1‑bath home with 3 main‑floor bedrooms and a large upstairs 4th bedroom plus secondary family room
- Huge enclosed front porch for additional finished space, plus butler’s pantry leading into the kitchen with tile floors
- Fenced yard with an inground sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,499
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$369,980
$370.0K
Cap Rate 7%
$264,271
$264.3K
Cap Rate 9%
$205,544
$205.5K
Market Conditions
NOI Build-Up for 1,860 SF
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.
Gross rent
$35.9K $19.32/SF
− Vacancy
−$2.3K −$1.24/SF
EGI
$33.6K $18.08/SF
− OpEx
−$15.1K −$8.14/SF
NOI
$18.5K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$369,980
Cap Rate 7%
$264,271
Cap Rate 9%
$205,544
Alternative Uses
Best Use
Apartment 5plus
$264.3K
$231.2K – $308.3K
NOI $18,499 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,592 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - 4-bedroom, 1-bath craftsman rental home with an enclosed porch, fenced yard, and inground sprinklers.
Where is this single family property located?
The property is located at 1011 E Augusta Ave Spokane, WA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 4‑bedroom, 1‑bath home with 3 main‑floor bedrooms and a large upstairs 4th bedroom plus secondary family room; Huge enclosed front porch for additional finished space, plus butler’s pantry leading into the kitchen with tile floors; Fenced yard with an inground sprinkler system
