Rented Duplex with Updated
302 W Indiana Ave Spokane, WA 99205
302 W Indiana Ave, Spokane, WA, 99205
Contact for pricing
For Sale
Contact for pricing
Pending
Two separate units each with on-demand hot water, updated furnace on bottom unit, and a recently replaced roof.
Property Size1,194 SF
Days on Market528
Property Features for 302 W Indiana Ave
General Information
- Standard status
- Pending
- Size
- 1,194 SF
- Property subtype
- Special Purpose, Land
Listing agency
Coldwell Banker Tomlinson
Listed by
Robin Henspeter · License #WA
Source
Crexi
Added: Feb 10, 2025 Updated: Jul 21 at 5:06PM Checked: Jul 22 at 8:21AM
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 Coldwell Banker Tomlinson
Investment Insights
Based on property information with market context.
This property is currently rented as a duplex with both units served independently. The bottom unit features forced-air gas heat with an updated furnace, while the top unit uses electric heating. Both units have their own on-demand hot water systems.
A shared basement includes washer and dryer facilities, with an outside entry serving the top unit. The roof has been replaced recently.
The property is zoned for retail, which may allow a range of uses beyond its current duplex configuration, depending on approvals. For tenants and investors, it presents a straightforward setup with independent utilities and practical on-site laundry access.
A shared basement includes washer and dryer facilities, with an outside entry serving the top unit. The roof has been replaced recently.
The property is zoned for retail, which may allow a range of uses beyond its current duplex configuration, depending on approvals. For tenants and investors, it presents a straightforward setup with independent utilities and practical on-site laundry access.
Key Highlights
- Duplex currently rented with two separate units, each on its own service
- Bottom unit: forced air gas system with updated furnace
- Both units: on‑demand hot water
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.8k | $17.40 |
| − Vacancy | −$1.3k | −$1.06 |
| EGI | $19.5k | $16.34 |
| − OpEx | −$5.9k | −$4.90 |
| NOI | $13.7k | $11.44 |
1,194 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$195.1K
$170.7K – $227.7K
NOI $13,659 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$169.6K
$148.4K – $197.9K
NOI $11,875 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$308.1K
$269.6K – $359.4K
NOI $21,564 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate units each with on-demand hot water, updated furnace on bottom unit, and a recently replaced roof.
Where is this duplex located?
The property is located at 302 W Indiana Ave Spokane, WA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex currently rented with two separate units, each on its own service; Bottom unit: forced air gas system with updated furnace; Both units: on‑demand hot water
