Updated Duplex with Attached
New
For Sale
$589,000
11308/11310 E 29th Ave, Spokane, WA 99206
Residential Income, Spokane, WA
Property Size2,992 SF
Lot Size0.45 Acres
Price / SF$196.86
Days on Market2
Property Features for 11308/11310 E 29th Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 4, Bathroom 4, Laundry Room, Utility Room, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2
Parking
907
Parking features
Open
Patio and Porch features
Patio
Interior features
Hot Water, High Speed Internet
Fireplace
1
Appliances
Free-Standing Range, Double Oven, Dishwasher, Refrigerator, Disposal, Washer, Dryer, Hard Surface Counters
Lot features
Sprinkler - Automatic, Treed, Level, Oversized Lot
Elementary school
University
Middle school
Bowdish
High school
University
Elementary school district
Central Valley
Directions
From Bowdish & 29th, head west on 29th to the property on the corner of Skipworth and 29th.
Standard status
Active
APN
45283.4810
Size
2,992 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Annual Amount
7308
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
wood-burning fireplace
patio
separate utility rooms
central air conditioning
Building Details
Year built
1977
Floors in Building
1
Number of units
2
Building materials
Wood Siding
Roof type
Shake
Architectural style
Ranch
Listing Agency:
EXIT Real Estate Professionals · EXIT Realty
(509) 535-8400
Listed By:
Sabrina Jones-Schroeder · License #2098
(509) 466-4500
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 5 at 1:06AM
MLS# 202623826
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 2,992-square-foot duplex includes two mirror-image residences with ranch-style layouts, a combined four-bedroom and four-bathroom configuration, and separate utility rooms. Each unit has a living room with a wood-burning fireplace, dining area, two bedrooms with backyard access, two full bathrooms, and an updated kitchen with tile flooring, wood cabinetry, slab granite counters, and supplied appliances. Newer furnaces, natural-gas forced-air heat, and central air conditioning serve both residences. Each side also includes an attached two-car garage and patio access.
Built in 1977 on 0.45 acres, the property is located at 11308/11310 E 29th Ave in Spokane, Washington 99206. Wood siding, a shake roof, open parking, and patio areas are among the exterior features. One unit includes a double wall oven and cooktop, while the other has a free-standing range. High-speed internet, washer and dryer connections, and additional storage and utility functionality support daily residential use.
Built in 1977 on 0.45 acres, the property is located at 11308/11310 E 29th Ave in Spokane, Washington 99206. Wood siding, a shake roof, open parking, and patio areas are among the exterior features. One unit includes a double wall oven and cooktop, while the other has a free-standing range. High-speed internet, washer and dryer connections, and additional storage and utility functionality support daily residential use.
Key Highlights
- Two‑unit duplex with 2,992 square feet of total property size
- 0.45‑acre site at 11308/11310 E 29th Ave, Spokane, WA 99206
- Each unit includes 2 bedrooms, 2 full bathrooms, and an attached 2‑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
$34,227
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
5.81%
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%
$684,540
$684.5K
Cap Rate 7%
$488,957
$489.0K
Cap Rate 9%
$380,300
$380.3K
Market Conditions
NOI Build-Up for 2,992 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
$52.1K $17.40/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$48.9K $16.34/SF
− OpEx
−$14.7K −$4.90/SF
NOI
$34.2K $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%
$684,540
Cap Rate 7%
$488,957
Cap Rate 9%
$380,300
Alternative Uses
Best Use
Multifamily LT 5
$489.0K
$427.8K – $570.5K
NOI $34,227 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$425.1K
$372.0K – $496.0K
NOI $29,758 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$771.9K
$675.5K – $900.6K
NOI $54,036 @ 7.0% cap · market cap 9.17%
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
117
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 - Two ranch-style residences feature updated kitchens, private patios, central air, and separate utility rooms.
Where is this duplex located?
The property is located at 11308/11310 E 29th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,992 square feet of total property size; 0.45‑acre site at 11308/11310 E 29th Ave, Spokane, WA 99206; Each unit includes 2 bedrooms, 2 full bathrooms, and an attached 2‑car garage
