Duplex with Four-Car
For Sale
$550,000
10906 E 17th Ave, Spokane Valley, WA 99206
Vacant units combine refreshed interiors with flexible rental, owner-occupant, and multigenerational living options.
Property Size2,704 SF
Price / SF$203.40
Days on Market41
Property Features for 10906 E 17th Ave
General Information
Standard status
Active
Size
2,704 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1972
Listing Agency:
EXIT Real Estate Professionals
(509) 535-8400
Listed By:
Mike Hansen · License #20120710
Source:
Clemensregroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 7:44PM
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 duplex includes two vacant residences, each with two bedrooms, two bathrooms, and an additional non-egress bedroom. Both units have detached one-car garages, gas forced-air heat, gas water heaters, and new vinyl flooring. Interior and exterior paint has also been completed. The property contains 2,704 square feet and was built in 1972.
A separate insulated four-car shop adds substantial utility, with water, power, and a small finished loft. The shop can accommodate workshop, storage, or other flex-space needs. The floor plan may support adult family home use, subject to buyer verification. Located near schools, shopping, and everyday amenities, the property supports rental, owner-occupant, and multigenerational living strategies.
A separate insulated four-car shop adds substantial utility, with water, power, and a small finished loft. The shop can accommodate workshop, storage, or other flex-space needs. The floor plan may support adult family home use, subject to buyer verification. Located near schools, shopping, and everyday amenities, the property supports rental, owner-occupant, and multigenerational living strategies.
Key Highlights
- Two‑unit duplex with 2,704 square feet, built in 1972
- Each unit offers 2 bedrooms, 2 bathrooms, and an additional non‑egress bedroom
- Both units are vacant and include a detached one‑car garage
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
$23,443
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
4.26%
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%
$468,860
$468.9K
Cap Rate 7%
$334,900
$334.9K
Cap Rate 9%
$260,478
$260.5K
Market Conditions
NOI Build-Up for 2,704 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
$35.7K $13.20/SF
− Vacancy
−$2.2K −$0.81/SF
EGI
$33.5K $12.39/SF
− OpEx
−$10.0K −$3.72/SF
NOI
$23.4K $8.67/SF
Area
Spokane Valley, WA
Vacancy
6.17%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$468,860
Cap Rate 7%
$334,900
Cap Rate 9%
$260,478
Alternative Uses
Best Use
Multifamily LT 5
$334.9K
$293.0K – $390.7K
NOI $23,443 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$309.9K
$271.2K – $361.5K
NOI $21,692 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$587.4K
$514.0K – $685.3K
NOI $41,118 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 99206, WA
39,842
Population
17,339
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
95%
High-School Grad
23.4 sq mi
ZIP Area
1,703
Density / Sq Mi
$75,538
Median Household Income
$42,018
Median Earnings
$1,174
Median Rent
$362,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant units combine refreshed interiors with flexible rental, owner-occupant, and multigenerational living options.
Where is this duplex located?
The property is located at 10906 E 17th Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,704 square feet, built in 1972; Each unit offers 2 bedrooms, 2 bathrooms, and an additional non‑egress bedroom; Both units are vacant and include a detached one‑car garage
