2023 Single-Level
For Sale
$635,000
11704 E Valleyway Ave, Spokane Valley, WA 99206
Two residences feature modern construction, private laundry, and access to the Central Valley School District.
Property Size2,430 SF
Price / SF$261.32
Days on Market29
Property Features for 11704 E Valleyway Ave
General Information
Standard status
Active
Size
2,430 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
in-unit washer and dryer
Building Details
Year Built
2023
Listing Agency:
Amplify Real Estate Services
(509) 263-1870
Listed By:
Dustin Cramer · License #113010
Source:
Clemensregroup
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 25 at 4:21AM
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 Amplify Real Estate Services
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains 2,430 square feet configured as two single-level residences. Each unit includes three bedrooms, two bathrooms, and an in-unit washer and dryer. The ranch-style design provides a straightforward layout for daily living and property maintenance.
Located at 11704 Valleyway in Spokane Valley, Washington, the property falls within the Central Valley School District. Its two-unit format, newer construction, and consistent bedroom-and-bathroom configuration create a clearly defined residential income property with practical in-unit amenities.
Located at 11704 Valleyway in Spokane Valley, Washington, the property falls within the Central Valley School District. Its two-unit format, newer construction, and consistent bedroom-and-bathroom configuration create a clearly defined residential income property with practical in-unit amenities.
Key Highlights
- Built in 2023
- 2,430 SF duplex
- Each unit has 3 bedrooms and 2 bathrooms
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
$21,068
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
3.32%
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%
$421,360
$421.4K
Cap Rate 7%
$300,971
$301.0K
Cap Rate 9%
$234,089
$234.1K
Market Conditions
NOI Build-Up for 2,430 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
$32.1K $13.20/SF
− Vacancy
−$2.0K −$0.81/SF
EGI
$30.1K $12.39/SF
− OpEx
−$9.0K −$3.72/SF
NOI
$21.1K $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%
$421,360
Cap Rate 7%
$300,971
Cap Rate 9%
$234,089
Alternative Uses
Best Use
Multifamily LT 5
$301.0K
$263.4K – $351.1K
NOI $21,068 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$278.5K
$243.7K – $324.9K
NOI $19,494 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$527.9K
$461.9K – $615.9K
NOI $36,952 @ 7.0% cap · market cap 5.82%
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
966
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 residences feature modern construction, private laundry, and access to the Central Valley School District.
Where is this duplex located?
The property is located at 11704 E Valleyway Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Built in 2023; 2,430 SF duplex; Each unit has 3 bedrooms and 2 bathrooms
