Modern Duplex With In-Unit
1428 North Michigan Lane Greenacres, WA 99016
For Sale
$675,000
A 2020-built duplex with open layouts, included appliances, and in-unit laundry for flexible owner-occupant or rental use.
Property Size2,920 SF
Price / SF$231.16
Days on Market98
Property Features for 1428 North Michigan Lane
General Information
- Standard status
- Active
- Size
- 2,920 SF
- Property subtype
- MultiFamily / Multi Family
Building Details
- Year Built
- 2020
Listing Agency:
Avalon 24 Real Estate
(509) 899-1774
Listed By:
Andrew Graham · License #SP48557
(509) 899-1774
Source:
Compass
Added: Apr 20
Changed: Jul 10
Last Checked: Jul 26 at 3:02AM
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 Avalon 24 Real Estate
Investment Insights
Based on property information with market context.
This 2020-built duplex features two separate units designed for practical, low-maintenance living. Each unit includes an open main-floor layout with quartz countertops, LVP flooring, included appliances, and a convenient half bathroom for guests. Upstairs, both units offer three bedrooms, two full bathrooms, and laundry within the unit.
The property is located near the River District, Orchard Park, the Centennial Trail, and the Spokane River, placing outdoor recreation and neighborhood dining within minutes. This convenient setting can support a range of household needs while keeping daily errands and leisure close by.
From a tenant-buyer perspective, the duplex offers straightforward, repeatable unit configurations, which can simplify leasing and occupancy planning. With one unit recently remodeled and currently vacant, the property provides a ready option for an owner-occupant seeking to move in while receiving rental income from the other side. It may also appeal to investors looking for a manageable duplex structure with modern interior finishes and in-unit laundry across both units.
The property is located near the River District, Orchard Park, the Centennial Trail, and the Spokane River, placing outdoor recreation and neighborhood dining within minutes. This convenient setting can support a range of household needs while keeping daily errands and leisure close by.
From a tenant-buyer perspective, the duplex offers straightforward, repeatable unit configurations, which can simplify leasing and occupancy planning. With one unit recently remodeled and currently vacant, the property provides a ready option for an owner-occupant seeking to move in while receiving rental income from the other side. It may also appeal to investors looking for a manageable duplex structure with modern interior finishes and in-unit laundry across both units.
Key Highlights
- 2020‑built duplex with open main‑floor layouts, quartz countertops, and LVP flooring in each unit
- Each unit includes appliances and in‑unit laundry, plus a half bathroom on the main level
- Upstairs in each unit: 3 bedrooms and 2 full bathrooms
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 | $38.5k | $13.20 |
| − Vacancy | −$2.4k | −$0.81 |
| EGI | $36.2k | $12.39 |
| − OpEx | −$10.8k | −$3.72 |
| NOI | $25.3k | $8.67 |
2,920 SF · lease $13.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $421.9K
NOI $25,316 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$334.6K
$292.8K – $390.4K
NOI $23,425 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$634.3K
$555.0K – $740.1K
NOI $44,403 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - A 2020-built duplex with open layouts, included appliances, and in-unit laundry for flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 1428 North Michigan Lane Greenacres, WA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2020‑built duplex with open main‑floor layouts, quartz countertops, and LVP flooring in each unit; Each unit includes appliances and in‑unit laundry, plus a half bathroom on the main level; Upstairs in each unit: 3 bedrooms and 2 full bathrooms
