Duplex With Oversized
For Sale
$449,000
1206 N Marcus Rd, Spokane Valley, WA 99216
Residential Income, Spokane Valley, WA
Property Size2,432 SF
Lot Size0.29 Acres
Price / SF$184.62
Days on Market48
Property Features for 1206 N Marcus Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2
Parking
2150
Parking features
Oversize, Garage
Patio and Porch features
Deck
Basement
Daylight
Appliances
Free-Standing Range, Dishwasher, Refrigerator
Lot features
Fenced Yard, Level, Cul-De-Sac
View
Territorial
Elementary school district
Central Valley
Directions
From Sullivan, West on Mission, North on Marcus. Duplex is on Left
Standard status
Active
APN
45141.1203
Size
2,432 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
4534
Utilities
Heating system
Electric (Heating), Baseboard
Amenities
vaulted ceilings
private deck
Building Details
Year built
1976
Floors in Building
2
Number of units
2
Building materials
Siding, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Spokane - Main · Keller Williams Realty
(509) 458-4000
Listed By:
Mary Stanton
(509) 710-8200
Added: Jul 23
Changed: Sep 5
Last Checked: Sep 8 at 9:06PM
MLS# 202621379
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.
Built in 1976, this duplex contains 2,432 square feet across two residential units. Each unit offers approximately 1,216 square feet with two bedrooms, 1.5 baths, vaulted ceilings, and an open floor plan. Private decks extend the living space, while attached oversized garages include shop areas. The property also features siding, composition roofing, electric baseboard heating, and appliances including ranges, dishwashers, and refrigerators.
The 0.29-acre property is located on a cul-de-sac at 1206 N Marcus Rd in Spokane Valley, Washington. It is within the Central Valley School District and has a rental history with long-term tenants who would like to remain. The configuration supports continued use as a two-unit residential income property or occupancy of one unit while retaining the second for rental use.
The 0.29-acre property is located on a cul-de-sac at 1206 N Marcus Rd in Spokane Valley, Washington. It is within the Central Valley School District and has a rental history with long-term tenants who would like to remain. The configuration supports continued use as a two-unit residential income property or occupancy of one unit while retaining the second for rental use.
Key Highlights
- Two‑unit duplex totaling 2,432 square feet
- Each unit has 2 bedrooms, 1.5 baths, and approximately 1,216 square feet
- Attached oversized garages include shop areas
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
$21,085
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
4.70%
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%
$421,700
$421.7K
Cap Rate 7%
$301,214
$301.2K
Cap Rate 9%
$234,278
$234.3K
Market Conditions
NOI Build-Up for 2,432 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%
$421,700
Cap Rate 7%
$301,214
Cap Rate 9%
$234,278
Alternative Uses
Best Use
Multifamily LT 5
$301.2K
$263.6K – $351.4K
NOI $21,085 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$278.7K
$243.9K – $325.2K
NOI $19,510 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$528.3K
$462.3K – $616.4K
NOI $36,982 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 99216, WA
28,379
Population
12,703
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
1,999
Density / Sq Mi
$69,958
Median Household Income
$40,652
Median Earnings
$1,307
Median Rent
$336,700
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-unit property with private decks, attached garages, and a functional layout suited to rental or owner-occupant use.
Where is this duplex located?
The property is located at 1206 N Marcus Rd Spokane Valley, WA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,432 square feet; Each unit has 2 bedrooms, 1.5 baths, and approximately 1,216 square feet; Attached oversized garages include shop areas
