Updated Duplex With Detached
For Sale
$529,950
1203 S Walnut St, Spokane, WA 99204
Residential Income, Spokane, WA
Property Size3,432 SF
Lot Size0.14 Acres
Price / SF$154.41
Days on Market64
Property Features for 1203 S Walnut St
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 3, Basement
Parking
2
Parking features
Offsite, Open, Alley
Basement
Walk-Out Access, Finished, Full
Appliances
Free-Standing Range, Dishwasher, Refrigerator
Lot features
Fencing, Fenced Yard, Sprinkler - Automatic, Level, City Bus (w/in 6 blks)
Elementary school
Roosevelt
Middle school
Sacajawea
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Standard status
Active
APN
25244.0506
Size
3,432 SF
Lot size
0.14 Acres
Utilities
Heating system
Ductless (Heating), Electric (Heating)
Cooling system
Wall Unit(s)
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Building materials
Shake Siding, Cedar
Roof type
Composition
Architectural style
Ranch
Listing Agency:
RE/MAX Inland Empire · RE/MAX International
(509) 232-0824
Listed By:
Riley Long
(509) 879-1128
Added: Aug 4
Changed: Sep 30
Last Checked: Oct 6 at 7:06AM
MLS# 202622091
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 ranch-style duplex spans 3,432 square feet on a 0.14-acre parcel and was built in 1953. Recent property work includes a new composition roof, exterior paint, new sod, and additional repairs. Interior improvements include new carpet in one unit and refinished oak hardwood flooring. The property also includes a detached garage, open parking, alley access, and offsite parking options. Heating is provided by electric and ductless systems, with wall-unit cooling, while appliances include a range, dishwasher, and refrigerator.
Located at 1203 S Walnut St in Spokane’s Lower South Hill, the duplex is near parks, scenic trails, coffee shops, grocery stores, and other everyday services. The two-unit configuration supports either an owner-occupant arrangement or continued rental use.
Located at 1203 S Walnut St in Spokane’s Lower South Hill, the duplex is near parks, scenic trails, coffee shops, grocery stores, and other everyday services. The two-unit configuration supports either an owner-occupant arrangement or continued rental use.
Key Highlights
- 3,432‑square‑foot duplex on a 0.14‑acre parcel
- New composition roof, exterior paint, and sod
- Detached garage plus open, alley, and offsite parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,260
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,200
$785.2K
Cap Rate 7%
$560,857
$560.9K
Cap Rate 9%
$436,222
$436.2K
Market Conditions
NOI Build-Up for 3,432 SF
Gross rent
$59.7K $17.40/SF
− Vacancy
−$3.6K −$1.06/SF
EGI
$56.1K $16.34/SF
− OpEx
−$16.8K −$4.90/SF
NOI
$39.3K $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 Rate 5%
$785,200
Cap Rate 7%
$560,857
Cap Rate 9%
$436,222
Alternative Uses
Best Use
Multifamily LT 5
$560.9K
$490.8K – $654.3K
NOI $39,260 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$487.6K
$426.7K – $568.9K
NOI $34,134 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$885.5K
$774.8K – $1.03M
NOI $61,982 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,077
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-unit property with refreshed exterior elements, updated interiors, and flexible parking and storage options.
Where is this duplex located?
The property is located at 1203 S Walnut St Spokane, WA.
What is the asking price?
The asking price for this property is $529,950.
What are key features of this property?
This property features: 3,432‑square‑foot duplex on a 0.14‑acre parcel; New composition roof, exterior paint, and sod; Detached garage plus open, alley, and offsite parking
