Duplex with Four-Car
For Sale
$550,000
Pending
10906 E 17th Ave, Spokane Valley, WA 99206
Residential Income, Spokane Valley, WA
Property Size2,704 SF
Lot Size0.36 Acres
Days on Market47
Property Features for 10906 E 17th Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Basement, Bathroom 2
Parking
9
Parking features
Oversize, Open, Garage, Offsite
Patio and Porch features
Patio
Interior features
Hot Water
Basement
Partial, Walk-Out Access, Partially Finished
Appliances
Free-Standing Range, Dishwasher, Refrigerator
Subdivision
KOKMO2
Lot features
Fenced Yard, Sprinkler - Automatic, Treed, Level, Secluded, Corner Lot, Fencing
Elementary school
University
Middle school
Bowdish
High school
University
Elementary school district
Central Valley
Directions
From Sprague and University. South on University, left on 16th, right on Glenn, go one block, property on the left.
Standard status
Pending
APN
45282.4021
Size
2,704 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
5582
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Building materials
Wood Siding
Roof type
Metal
Architectural style
Ranch
Additional Structures
Workshop
Listing Agency:
EXIT Real Estate Professionals · EXIT Realty
(509) 535-8400
Listed By:
Mike Hansen · License #20120710
(509) 535-8400
Added: Jul 11
Changed: Aug 19
Last Checked: Aug 26 at 7:06AM
MLS# 202620815
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 2,704-square-foot ranch-style duplex was built in 1972 and includes two residential units. Each unit offers two bedrooms, two bathrooms, an additional non-egress bedroom, a detached one-car garage, gas forced-air heat, and a gas water heater. New vinyl flooring and recently painted interior and exterior surfaces provide updated finishes. The property also includes free-standing ranges, dishwashers, and refrigerators.
A separate insulated four-car shop adds water, power, and a small finished loft, supporting workshop, storage, home-business, or other flex-space uses. The duplex sits on 0.36 acres in Spokane Valley, near schools, shopping, and everyday amenities. Both units are vacant, allowing the next owner to occupy, lease, or use the property for multigenerational living, subject to applicable verification.
A separate insulated four-car shop adds water, power, and a small finished loft, supporting workshop, storage, home-business, or other flex-space uses. The duplex sits on 0.36 acres in Spokane Valley, near schools, shopping, and everyday amenities. Both units are vacant, allowing the next owner to occupy, lease, or use the property for multigenerational living, subject to applicable verification.
Key Highlights
- Both duplex units are vacant
- Each unit has 2 bedrooms, 2 bathrooms, and an additional non‑egress bedroom
- 2,704 square feet on a 0.36‑acre lot
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
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with refreshed interiors, detached garages, and a powered accessory shop with finished loft space.
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: Both duplex units are vacant; Each unit has 2 bedrooms, 2 bathrooms, and an additional non‑egress bedroom; 2,704 square feet on a 0.36‑acre lot
