Side-by-Side Duplex with
For Sale
$449,900
Pending
1113 W 10th Ave, Spokane, WA 99203
Separate entrances, fenced outdoor areas, and updated flooring support flexible occupancy across both residential units.
Property Size2,096 SF
Days on Market118
Property Features for 1113 W 10th Ave
General Information
Standard status
Pending
Size
2,096 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,996
Amenities
electric baseboard heaters
wall A/Cs
storage rooms
decks
fenced backyards
patios
sprinkler system
Garage: Attached, Carport, Off Site
Garage Spaces: 0
Style: Other
Other
Attached, Carport, Off Site
Building Details
Year Built
1982
Buildings
1
Listing Agency:
Windermere Manito, LLC
(509) 280-1161
Listed By:
Brian Zapotocky · License #SP52248
Source:
Clearwaterproperties
Added: May 7
Changed: Aug 31
Last Checked: Aug 30 at 11:49PM
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 Windermere Manito, LLC
Investment Insights
Based on property information with market context.
This 1982 duplex contains two side-by-side residences with separate entrances and a combined 2,096 square feet. Each unit offers two bedrooms and one bathroom, along with a kitchen featuring informal dining space. Electric baseboard heat, wall air-conditioning units, storage rooms, and a 3-car attached carport serve the property. Recent improvements include new flooring and carpeting in both units, while decks, patios, fenced backyards, and an irrigation system provide defined outdoor areas.
The property is located at 1113 W 10th Ave in Spokane’s Cannon Hill neighborhood on South Hill. Huckleberry’s Natural Market is within walking distance, and Deaconess and Sacred Heart Medical Centers are a short drive away. Cannon Hill Park, schools, grocery stores, and restaurants are also nearby. Unit A is occupied, Unit B is temporarily vacant, and the property has a continuous rental history.
The property is located at 1113 W 10th Ave in Spokane’s Cannon Hill neighborhood on South Hill. Huckleberry’s Natural Market is within walking distance, and Deaconess and Sacred Heart Medical Centers are a short drive away. Cannon Hill Park, schools, grocery stores, and restaurants are also nearby. Unit A is occupied, Unit B is temporarily vacant, and the property has a continuous rental history.
Key Highlights
- 2,096 total square feet across two residential units
- 1982 side‑by‑side duplex with 2 bedrooms and 1 bath per unit
- 3‑car attached carport plus storage rooms
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
$23,977
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
5.33%
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%
$479,540
$479.5K
Cap Rate 7%
$342,529
$342.5K
Cap Rate 9%
$266,411
$266.4K
Market Conditions
NOI Build-Up for 2,096 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
$36.5K $17.40/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$34.3K $16.34/SF
− OpEx
−$10.3K −$4.90/SF
NOI
$24.0K $11.44/SF
Area
Spokane, WA
Vacancy
6.08%
Lease Rate
$17.40 /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%
$479,540
Cap Rate 7%
$342,529
Cap Rate 9%
$266,411
Alternative Uses
Best Use
Multifamily LT 5
$342.5K
$299.7K – $399.6K
NOI $23,977 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$297.8K
$260.6K – $347.5K
NOI $20,847 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$540.8K
$473.2K – $630.9K
NOI $37,854 @ 7.0% cap · market cap 8.41%
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
1,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 99203, WA
21,072
Population
9,742
Households
2.2
Avg Household Size
43
Median Age
57%
College-Educated
99%
High-School Grad
4.6 sq mi
ZIP Area
4,581
Density / Sq Mi
$95,532
Median Household Income
$56,122
Median Earnings
$1,243
Median Rent
$449,100
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 - Separate entrances, fenced outdoor areas, and updated flooring support flexible occupancy across both residential units.
Where is this duplex located?
The property is located at 1113 W 10th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2,096 total square feet across two residential units; 1982 side‑by‑side duplex with 2 bedrooms and 1 bath per unit; 3‑car attached carport plus storage rooms
