Fully Remodeled Duplex With
1014 W Spofford Ave Spokane, WA 99205
New
1014 W Spofford Ave, Spokane, WA, 99205
$389,000
For Sale
$389,000
Updated duplex with two leased units, remodeled interiors, and both front-entry and back-entry access.
Property Size2,284 SF
Price / SF$170.32
Days on Market3
Property Features for 1014 W Spofford Ave
General Information
- Standard status
- Active
- Size
- 2,284 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1908
Listing agency
EXIT Real Estate Professionals
(509) 535-8400
Listed by
Kali Butler · License #89559
Source
Clearwaterproperties
Added: Jul 20 Updated: Jul 21 at 2:15AM Checked: Jul 21 at 4:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Real Estate Professionals
Investment Insights
Based on property information with market context.
This fully remodeled duplex offers two income-producing units with current leases. The lower unit features three bedrooms and one bath, along with a fourth bonus room. Inside, an open-concept living and dining area connects to a remodeled kitchen with new appliances and layout space for an island, plus a walk-in butler’s pantry with built-ins. Two main-level bedrooms share access to a full guest bath, while the lower level includes an oversized egress bedroom, laundry area, and the additional bonus room. Access is available from the front foyer or the back entry.
The updated upstairs unit includes a welcoming living area, two large storage areas, and laundry off the kitchen. It has an oversized bedroom with a walk-in closet, a stylish 3/4 bath with a tiled shower, and a designed kitchen with a dedicated dining space. The upstairs HVAC is brand new, and extensive updates throughout include fresh paint, new cabinets, counters, flooring, and landscaping.
Parking is available with street parking in front or a one-car garage accessed via an alley.
The updated upstairs unit includes a welcoming living area, two large storage areas, and laundry off the kitchen. It has an oversized bedroom with a walk-in closet, a stylish 3/4 bath with a tiled shower, and a designed kitchen with a dedicated dining space. The upstairs HVAC is brand new, and extensive updates throughout include fresh paint, new cabinets, counters, flooring, and landscaping.
Parking is available with street parking in front or a one-car garage accessed via an alley.
Key Highlights
- Updated duplex built in 1908 with two leased units
- Lower unit: 3 beds, 1 bath plus a 4th bonus room; includes an oversized egress bedroom and laundry area
- Lower unit features an open‑concept living/dining area, remodeled kitchen with new appliances and walk‑in butler’s pantry with built‑ins
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 | $39.7k | $17.40 |
| − Vacancy | −$2.4k | −$1.06 |
| EGI | $37.3k | $16.34 |
| − OpEx | −$11.2k | −$4.90 |
| NOI | $26.1k | $11.44 |
2,284 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$373.3K
$326.6K – $435.5K
NOI $26,128 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$324.5K
$284.0K – $378.6K
NOI $22,717 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$589.3K
$515.6K – $687.5K
NOI $41,249 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Updated duplex with two leased units, remodeled interiors, and both front-entry and back-entry access.
Where is this duplex located?
The property is located at 1014 W Spofford Ave Spokane, WA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Updated duplex built in 1908 with two leased units; Lower unit: 3 beds, 1 bath plus a 4th bonus room; includes an oversized egress bedroom and laundry area; Lower unit features an open‑concept living/dining area, remodeled kitchen with new appliances and walk‑in butler’s pantry with built‑ins
